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Photograph of Bernard Madoff after his court appearance yesterday by Louis Lanzano/AP
With swindling investor Bernard Madoff set to plead guilty tomorrow, here's a numeric summary of some interesting points:
- 11: The number of charges Madoff faces; here's a PDF outlining the charges, which include securities fraud, mail fraud, and investment adviser fraud.
- 150: The numbers of years he'll face in prison, if found guilty of all charges.
- 70: Madoff's age.
- 64.8 billion: The amount that investors were told they had in their "investments" and "earnings." Of course, this includes those fake earnings; last week, one estimate of the real money in Madoff's fund was $20 billion.
- 35: The number of labor union pension plans Madoff took from (about $10 million).
- 13: The number of years that investigators believed Madoff did not trade at all. In other words, he kept collecting money and "producing returns" with new clients' money.
- 46: The percent of return some investors were told they could earn if they invested with Madoff.
- 20: The number of people who may face indictments for their involvement in the scam; Lucinda Franks writes in the Daily Beast, "Sources say new information has surfaced that suggests several members of Madoff’s inner circle transferred assets to their wives, transactions thought to be laundered through an English bank." Additionally, a source tells Franks (who is married to Manhattan DA Robert Morgenthau), "There should be at least 20 indictments, between the three groups, if the feds are doing their jobs. Some will be conspiracy, the ones who were deep into it with Madoff, and others will be civil cases sent to the SEC for prosecution.” These people would include not just wife Ruth Madoff but his sons and other relatives.
- 4,800: The number of Madoff's victims—so far.
- 4: The number of Central Park benches named in honor of Madoff's parents and his wife's parents. A person told the Post, "They should rename them after the families that have been affected by" the fraud.
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- 666: The number of the beast
that one reporter with the hat is rockin' it old school
LOL, great observation. That reporter rocks.
Yes, can Gothamist find out what agency he works for and do an interview?
and can Gothamist please start dressing this way as well :)
What, you don't like bizarre Chinese New Year outfits? It's okay—maybe if I get a fedora, I'll start talking like I'm out of The Front Page.
Actually those would appear to be photographers, not reporters. You know, judging by the cameras.
any luck on getting a Press Pass?
Did people really believe they were going to get a 46% return on their investment legally?
I hope they charge his wife and other family members. No way he did this on his own for so long.
"Did people really believe they were going to get a 46% return on their investment legally?"
Reportedly a lot of people who were investing with Madoff suspected insider trading as the "secret" to why he was getting the returns he supposedly was. There's some speculation that's one reason why sophisticated investors never raised any questions.
4,800 is the number of the people available. The actual number involved is far higher because a lot of the money was invested within banks.
I hope he's on suicide watch tonight.
It would be great if someone captured a picture of his head evaporating into a cloud of red mist.
"I hope they let him keep his favorite slippers. Bernie's feet are always cold, even in summer."