This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
Blog
-
Muck tracker – Hank Greenberg
Not everyone at AIG is benefitting from the federal bailout. Forbes notes that former AIG Chairman Hank Greenberg’s wealth, mainly in company stock, has dropped from $1.9 billion to less than $100 million.
Click here to sign up for the Muckety Newsletter
Read related stories: Muck trackerThe relationship map to the left is interactive.• Solid lines are current relations. Dotted lines are former relations.• Expand items with + signs by double-clicking or by selecting multiple items in the map and pressing the “e” key.• Move an item in the map by clicking and dragging.• You can also delete items, separate boxes and save maps. Right-click on the map or select Map Tools for these options.• Find out more about an item in the map by right-clicking on the item and choosing Information about…• View map color key.• This interactive map requires Flash player.
-
Sam Sifton has a face only a gourmet chef could loveAugust 9, 2009 at 9:56am
Sam Sifton looks like a good guy. But as he gets ready to begin his new job as the hired gut of The New York Times, that’s caused a minor controversy.
Natasha Richardson Hospitalized After Ski Injury
This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
Aig Gave Retention Bonuses to 73 Including 11 No Longer There
This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
Muck Tracker Hank Greenberg
This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
Despite the Outrage Aig is Still Too Big to Fail
This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
Bill Clinton Ends Relationship With Burkles Yucaipa Cos
This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
Feds to go after Ruth Madoff’s money too
Ruth Madoff will not get any breaks: Federal authorities plan to go after more than $100 million in real estate, cash, art, autos, boats and other property owned by her and her husband Bernard Madoff, who pleaded guilty last week to running the largest Ponzi scheme in history.
The government said in a court filing Sunday that it intends to seize all the assets, including the Madoffs’ Upper East Side penthouse, which is in Ruth Madoff’s name, as well as their homes in Montauk, New York, Palm Beach, Florida, and France, whose combined worth has been put at $22 million.
Hint: Click in map to explore connectionsStory continues below interactive map
Click to activate interactive map
(requires Java)MAP HINTS: Click expands a name. Control+Click centers map on a name. Solid lines are current relations. Dotted lines are former relations. For advanced tools choose Tools > Options from the menu at top. More help. Not seeing the maps? Please go here to check for the latest version of Java.Other items sought by prosecutors include $17 million in cash and $45 million in bonds held in Ruth Madoff’s name, several yachts, all bearing names ending in “Bull,” four cars, silverware valued at $69,000 and a Steinway piano worth $39,000.
Madoff, 70, pleaded guilty March 12 to defrauding investors of as much as $65 billion and faces 150 years in prison. His attorneys filed a request with the U.S. Court of Appeals in New York that he be freed until his sentencing June 16.
The government’s “notice of intent to seek forfeiture” is not a seizure, but rather, alerts U.S. District Judge Denny Chin and the Madoffs that prosecutors intend to go after the possessions.
Lawyers for the Madoffs have previously argued that Ruth Madoff is the rightful owner of $69 million worth of cash and bonds, in addition to the Manhattan apartment, which they say are “unrelated” to her husband’s fraud.
To date, she has not been accused of any wrongdoing. However, her withdrawal of $15 million from a brokerage account a short time before her husband was arrested has increased the suspicion that she knew something of her husband’s crimes.
According to court documents filed Friday, the Madoffs had nearly a billion dollars in personal wealth at the end of last year which is now being eyed by defrauded investors trying to recoup the money they lost in Madoff’s scam.
Click here to sign up for the Muckety Newsletter
This post is tagged with: Bernard L. Madoff, Bernard L. Madoff Investment Securities, Madoff, Recent Stories, Ruth MadoffRead related stories: Madoff · Recent Stories1 Comments
-
The Judicial system is missing the boat on this one. There is a deal that should be made with Madoff.
http://pacificgatepost.blogspot.com/2009/03/deal-to-make-with-madoff.html
The objective is NOT revenge, but Restitution and Reconstruction.
Leave a Comment
-
Henry Kravis is at the door, knocking politelyMarch 18, 2009 at 9:17am
Buyout king Henry Kravis has been humbled, if only slightly.
Feds to Go After Madoff Homes Cars and Boats
This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
-
1 Comments
#1. Normin 08.06.2009
Here it is my friends, leverage exposed. This is why the U.S. is in an economic decline. It’s possible that Mr. Greenberg is worth even less than the above number. If he was successful with his gamble he would have kept all the profits, however since this type of leverage is so extreme that only questionable and high risk business practices like derivatives markets which have sunk the U.S. economy can be used. Since he has lost, we bailout him and his multi billion dollar company AIG! A $15 million dollar fine is peanuts for the damage done and an insult to our heroic taxpayers. This damage to America is as bad as terrorism and should demand long jail time, not a fine with money from questionable business practices. Mr. Greenberg was a former candidate for C.I.A. director, ain’t that sweet.
Leave a Comment