Madoff 'wired millions to London for laundering'

[emad]

Bernard Madoff is alleged to have funnelled at least $250 million (£182 million) of his victims' money through his London office in Mayfair, partly to fund his own lavish property purchases and lifestyle.

US prosecutors also claim Madoff sent funds placed with him by investors in his $64.8 billion Ponzi scheme to Madoff Securities International, which was based in Berkeley Street, to give the illusion he was dealing in European shares and options on their behalf.

Madoff is expected to plead guilty tomorrow, and could be sentenced to a maximum of 150 years for fraud. He could also be ordered to forfeit $170 billion of ill-gotten gains.

Among the 11 charges against him are two of international money-laundering through his London office
http://www.thisislondon.co.uk/standard-business/article-23660840-details/Madoff+%27wired+millions+to+London+for+laundering%27/article.do

[B Whale]

1. The great robbers of the economy

makes me sick. However i think its important to keep banging on that its the system's that broke not just individuals. It was the fanatical free market and the greed is good ideology that spawned these people.

The Right will no doubt claim everything's fine, just a few villians, back to normal now, nothing to see here, and we should ensure we don't go back to a dogma that instills greed and selfishness into the world.

[LeftishBrit]

2. Great post!

[D-Notice]

3. I believe the phrase that you are looking for is

"A few bad apples"