A story I was following for the lat month or so..... but this bastard should hang, he walks to his court cases with a smile on his face, whilst his investors kill themselves..... f*&^ him
" London - A former British soldier killed himself after losing his life savings in an alleged $50bn fraud run by Wall Street financier Bernard Madoff, the dead man's son said.
William Foxton, 65, who had served in the British Army and more recently worked as a defence contractor in Afghanistan, died from a single bullet wound to the head in the southern English port city of Southampton on Tuesday, police said.
"A pistol was recovered at the scene. Police do not believe the death to be suspicious," a police statement said.
His son Willard said his father had returned from Afghanistan and revealed his life savings had been lost.
He did not say how much had gone, but news reports said it was close to £1m.
"He came back and we were all very glad he was back and retiring and we were looking forward to him spending a long and happy retirement with us, but unfortunately very recently ...
'I'm really sorry'
"I got in contact with him to ask him some ordinary family stuff and halfway through the conversation he said: 'Look, I'm really sorry, I can't concentrate, I'm afraid I've lost everything, I've lost all the money, I might have to declare myself bankrupt'," Willard Foxton told Sky news.
"He invested in hedge funds [and] without going into the names of the specific hedge funds, essentially these two hedge funds had taken the money, and as far as I can understand from news reports and the class action lawsuits being filed against them, they had taken all the money that was invested with them and then sunk that into Bernie Madoff's fund."
The BBC's website said Foxton had invested his life savings in two Austrian-based hedge funds, but he discovered both funds had been closed and their funds invested with Madoff.
"I want Madoff and others involved to know that they have my father's blood on their hands," Willard Foxton was quoted by The Daily Telegraph as saying.
"I'm very angry. My first thought was to show up at Madoff's trial in New York and throw my father's medals in his face."
Madoff was charged in a criminal complaint in December with fraud, after US federal authorities said he confessed to running a long-standing swindle that cost investors $50bn.
"
Pardon my taal.... maar dit maak my net befok......
Yes they should be so severely punished as deterent to future fraudsters .. sad thing again is this is a case of having the carrot dangled , and people following that carrot ,, The words of warning remain ... IF AN INSTITUTION OFFERS A RETURN FAR IN EXCESS OF WHAT THE MARKET IS OFFERING BE CAREFUL .. VERY CAREFUL .. Sure there are some well timed deals that hit luck but that just once or twice ... never forever .. and yes if one goes in as an individual and plays stocks ,, well then you take that individual risk ..
But yes to prey upon peoples wanting to get the most and sadly so pensioners who just want to have a more comfortable retirement .. thats criminal ... I had a call on friday from a company ... I will listen to them on monday and then have the pleasure of telling them to F.. off ...
Your right Sandy,
Before I left OMD there was a particular investment person based in Windhoek that wanted me to invest with him ( guaranteed me a mininum or a 35% ROI ) I went through weeks and months of up's & downs paper /e-mails & phone calls etcwith this guy.
Wanted his fee paid up front, when I told him I was prepared to invest with him if he only took his fee at the end of the first year, you should have hear his comments.
Accused me of spinning him allong etc anyway like I said, " if you are so sure of your facts and rate of return surley it will not be a problem)
Needless to say, I never invested with him or any of the firms he suggested
Mmm ,, yes the " seller ' middleman is pretty sure its dodgy but yes taking the chance ,,, works on peoples naivety .. he gets fee upfront .. when all collapses he disapears ... no damage to him .. but yes the wheel is round .. if you dont have a working conscious conscience in this life you will just ahve to take the consequences and well ... so many theories ... but yes it comes back to you ..
Follow up on the investment company that just wanted to send an " advisor " to do the obvious hard sell as to how I could get 25 % return ... I got my follow up call on monday morning .. so what time can our " advisor" come see you today ?? I explained gently that I am a busy person .. and that yes I would like to view their website and get a bit more background on the company and their affiliates before I had an " advisor " aka hard sell sign on the dotted line salesman visit me .. sure she said .. here is the address .... " www . ?? blink " ... call suddenly ended .. never bothered again .... Mmmm smells more fishy than Luderitz on a hot windless day ?? me not stupid .. sooner have slow steady interest linked growth than lose all for foolishness ...
Good on you Sandy, complete agreement this side.
See mr Madoff did a no contest admission .. he now in jail and will be sentenced soon ,,, wish mr James w Brown of the fidentia scandal .. 1.62 billion of miners widows and orphans fund gone missing would do the same ...
American jails are awful. Many are contracted out and run on a shoestring. California has a "three strikes and your out" policy. Dick Chaney has one. M will have many enemies inside since there will always be a relative of someone who was had on the inside.... Sometimes this is worse than ..... my tickey worth.
I read he could get 150yrs in jail....errr the man is 70 already. So maybe he he lasts 15years..that not justice. Take all his assests then hang him.Fine time to be sorry it aint going to make anything right.
Considering only $1 bilion of $65 billion has been recovered from Madoff, I suspect he's going to be able to buy quite cushy prison deal a la Paris Hilton et al
Let Mossad have him on the condition that they get to keep 10% of funds located.
The comaprison made ... Both James W Brown and Madoff .. over a period of tiime plundered funds and both knew exactly what they were doing .... peoples invertments ... pension funds .. that is unforgivable ... But Mr Brown is fighting tooth and nail against his obvious guilt .... Madoff has admitted no contest , whether he hopes that will lighten his sentence which i do not see happening , but at least he will not be tying up the courts and valuable taxpayers money and not jamming the courts with technical timeplay and time wasting ...