December 30, 2008
Where’d the money go?
Bernie Madoff claimed his Ponzi scheme took investors for $50 billion. Even if he’s lying about that too—investigators say a more likely figure is $30 billion—you have to wonder, where’d it all go?
According to a report in talkingpointsmemo.com, the answer is fourfold:
1. A fraction went to support his lavish lifestyle
Investigators say it will take months to track down the assets. And lawyers may spend years trying to recover what’s recoverable.
Read the whole post here: