Prosecutor Details Contents of Madoff's Package

It's hard to swallow Bernard Madoff's lawyer claim that his scamming client "innocently" mailed gift packages to relatives, given that one of the packages alone had $1 million worth of jewelry in it. Also, since when do you mail $1 million worth of goods? Isn't that something you do face-to-face? Anyway, according to Bloomberg News, that package had "13 watches, a diamond necklace, an emerald ring, and two sets of cufflinks" while another two had "a diamond bracelet, a gold watch, a diamond Cartier watch, a diamond Tiffany watch, four diamond brooches, a jade necklace, and other assorted jewelry." The U.S. Attorney's office is trying to argue that Madoff is dispersing his assets, therefore violating his bail (and further making him seems like a flight risk), and wants him in jail pronto. Madoff's lawyer says the disgraced investor and his wife are trying to retrieve the items, which might be hard since the feds are in possession of some. In other Madoff news, he borrowed $250 million from a friend right before his arrest.

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By Jen Chung in News on January 7, 2009 4:53 PM

Comments [rss]

JenChungsBaby

That US Marshall in the picture looks like he's keeping a sharp eye on Bernie's package.

tingo

You gotta hand it to those postal carriers for having more ethics than Madoff not to xray this package, open it, and steal it. He sure trusts them.

nik13

According to NYT, an Austrian friend of Madoff is hiding, after she conned Russian mobsters to "invest" 2.1B in his scheme. Justice might be coming to them all sooner than we all expect. But it will be a mess to clean up.

NannyState

Eh. The russians like the ol' "five in the eye" with .380 calibre rounds. A little messy yes, but some deft work with the carpet knife and that Brighton Beach 2br is ready to turn the next day. (as for Madoff, there IS all those bull artworks to consider, it'll take a certified art restorer to freshen those up)