Madoff R.I.P.

This is what I wrote in 26 April 2010:

It’s not the first Ponzi scheme but is the biggest, a lot off money involved and for a long period off time.
Madoff is a bad person, that is clear, but he was credible for many other investors and for many banks and investments fond.
Probably because Madoff have a good resume: stoke broker, financial adviser, chairman of NASDAQ, philanthropist. A mystery aura, he’s identity never to be disclosed in investments fund reports. BLMIS was founded in 1960, in the ’80 or ’90 when is supposed that begun the foul play it was an important securities firm.
A 20% return is very big when bank deposits pay 3 or 4%. Why investors, charity foundations, banks and investments found believe that this is possible. Do they perform any tests, any financial analysis before give away billions?
It was only greed, only trust in Madoff ability to obtain spectacular earnings? I suppose that those investors make similar gains in other business, so for them 20% return it was an usual profit.
If that is the case, I am wonder how many other schemes are now in progress!
B.M. take all guilt on himself, for me is hard to believe. Probably it was a move to protect other family members, other associates, but this is justice task to clarify.
If only he is going down for Madoff will be easy to support, but if the chain of guilt is completed with family members, then the scam is not worthy.
Time will tell.

But two years after Bernie Madoff arrest, his son Mark, 46, choose to suicide.
Acording to Bloomberg : " Sued by Trustee
The sons, along with Bernard Madoff’s brother and five directors of the U.K. arm of Bernard Madoff’s investment firm, were sued Dec. 8 by Irving Picard, the court-appointed trustee recovering assets for Madoff’s victims."

Is not the end of Madoff saga, but for Mark Madoff was.