Guilt By Association?-Friends, Family Members & Business Associates of Bernie Madoff

You know that Bernie Madoff has plead his guilt to the court in the securities fraud case against him, as well as  perjury; however, the investigators who are delving into this long -term Ponzi scam are allegedly, having to investigate his business associates, some of his family members, and his tax accountant too.  There is so much missing money…that many observers automatically assume that the money has been hidden among those that he has personal relationships with; whether that is true or not, remains to be seen.

It leaves the impression of guilt by association, though this is unfortunate, because many of them may not have had any idea about the fraud that was taking place.   I personally doubt whether he advertised the fact of what he was doing, to his friends and family; it isn’t something most people would be proud of.    I am thinking about his wife in particular; did she know where the money in their lives came from?  She is also allegedly, being investigated; and, unless she had direct involvement in the day-to-day business operations…how would she know what he did while he was at work?

Still, if the money in their accounts is  found to be accumulated from the fraud; the government could confiscate it couldn’t they?  His own family members could end up being “victims” of his actions, just as well as, those who lost so much financially!  Bernie will be sentenced for his crimes in June.   What the additional investigation finds, will also determine what happens to the others that are being investigated by their association with Bernie Madoff.  Bernie may have plead guilty, but, if this investigation negatively impacts his friends and family…you have to wonder if he will actually feel any guilt!

In this kind of a case, the cloud of suspicion could literally destroy many more lives than those that have already been destroyed.  If Bernie Madoff could admit his guilt in court…why can’t he just be honest and tell the investigators where the money is?   Maybe if some of the money could be found…maybe some of the people who were ripped off could get some of their money back.  If he is keeping that missing money information to himself…it could destroy those that he supposedly cares about, such as his wife, children, business associates and such.  Let the guilty be found out…and the innocent be proven so; still, what if the money is found  in their accounts without their having knowledge of the scam?

So many lives have been destroyed by this security fraud…this Ponzi scam this abuse of trust, it is sickening.  People have lost so much of their money that they counted on to survive.  It makes a person intensely frustrated and angry that Mr. Madoff will be sitting in a prison cell…getting three meals a day and all of his basic needs will be met; while his “victims” future is still up in the air.  The levels of trust and responsibility that we put in our leaders is immense and needs honored by meeting those levels of trust and responsibility and exceeding it!  This damages everyone’s ability to trust those in authority, who’s decisions affect our lives…has it affected how you trust people?

I have moved my site to a new Url:  WriteWhereYouAre if you are interested in more blog posts!

Advertisement

Read Full Post »

Prison Time For Wesley Snipes

         Yesterday, Wesley Snipes was sentenced for 3 years for tax fraud; for not filing his tax returns for approximately three years.  Wow, they are really making an example of him.  I am sure…Joe Smoe will think twice about it if they are tempted not to file; or, not to pay when they owe taxes.   This conviction will have a huge IMPACT on those tempted not to pay.   No-one wants to, willingly, go through this kind of trauma, if they can avoid it…unless they got screws loose.

         On the radio this morning, i heard that Mr. Snipes allegedly paid the court 5 million dollars in back taxes….with something like 30 million, or so to go!  Wowee, how many zillions of dollars does a person have to make to OWE that kind of money in taxes and penalties?  I, for one, don’t want to ever be in that position.  Maybe it isn’t so bad being a middle class Joe Smoe!  🙂 

         I am sure that Mr. Snipes’ lawyers will appeal this sentence; but, more than likely, that will only delay the event.  There was plenty of star power personal references presented to the court, attesting to Mr. Snipes character…but, it didn’t seem to make a difference.  The government is going to hold up this conviction so that the public will pay close attention to the consequences.

        I feel badly for Mr. Snipe’s family.  The stress of paying that kind of money plus, worry over their loved one going to prison has to be overwhelming.  If Mr. Snipes was a victim of poor tax advice…that is bad enough.  However, if he choose to put himself in this position, rebelling against having to part with his money…then the sentence is deserved.   It was alleged, in court, that he not only willfully was rebelling, he was hiding money overseas and through friends and family.  Understand that the prosecution presented evidence that this was not just a whim or a mistake…they alledged that this went on for a decade.  In that case, three years of prison time, should allow for enough time to reflect on the error of his ways.

          None of us have the ability to read his mind and determine his actions; thankfully, that responsibility was up to the judge and jury.  If nothing else, this conviction just reinforces the old saying…there is nothing sure about life, except death and taxes!!!

         

Read Full Post »