Forum Home | Log in | Signup | My Page | Rules | FAQ | Boards | Members | Search
« POPE IV Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Re: Madoff fund has paid millions to administrator, zero to victims  

By: ribit in POPE IV | Recommend this post (3)
Wed, 24 May 17 5:57 AM | 47 view(s)
Boardmark this board | POPES NEW and Improved Real Board 		Msg. 25879 of 47202
(This msg. is a reply to 25877 by Beldin)
Jump:
Jump to board:
Jump to msg. #

beldin
...the administrator of all these things as well as the wealth of people who die without a will is in the hands of the courts who pass it off to an administrator. The administrator is usually a law firm the judge used to work for or a frat brother of someone he went to college with or a relative. They split the proceeds while cursing the expenses of protecting the family involved. I had a friend who was appointed administrator of a estate. My friend was the son of a frat brother and former law partner with the judge. My friend said he didn't know anything about being an administrator. Judge told him to just sign whatever I send you, cash your checks and keep your piehole shut.

It's a racket and there is no one so pitiful nor any amount of money so small that it is beneath their dignity to steal it.




Avatar

Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!

» You can also:
- - - - -
The above is a reply to the following message:
Madoff fund has paid millions to administrator, zero to victims
By: Beldin in POPE IV
Wed, 24 May 17 5:42 AM 		Msg. 25877 of 47202

http://www.msn.com/en-us/money/companies/madoff-fund-has-paid-millions-to-administrator-zero-to-victims/ar-BBBs1EJ?OCID=ansmsnnews11

A firm hired by the U.S. to distribute $4 billion to victims of Bernard Madoff's Ponzi scheme has racked up $38.8 million in billings over four years. The investors are still waiting for their first checks, though.

The Justice Department disclosed its payments to Richard Breeden, the Madoff Victim Fund administrator, in response to a Freedom of Information Act request by Bloomberg News. Breeden's fees, which are being paid from cash in the fund, cover his work through 2016.

The delay highlights how 8 1/2 years after Madoff's arrest investors are still scrambling to recover money from a U.S. fund that was announced with great fanfare. Victims have recovered billions of dollars from another fund, but they have yet to be made whole. ...

« POPE IV Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next