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Prosecutor Details Contents of Madoff's Package
By
Jen Chung
Published Jan 7, 2009
Modified Jan 7, 2009
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By
Jen Chung
Published Jan 7, 2009
Modified Jan 7, 2009
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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.
Tagged
bail
Bernard Madoff
Jewelry
package
ponzi scheme
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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