Tuesday, August 4, 2009
NOTE
Monday, August 3, 2009
Hot sauce update!
Friday, July 31, 2009
Bernie Madoff sand sculpture
Monday, July 27, 2009
Bernie in Hell Sauce Featured in Book
Saturday, January 24, 2009
BERNIE MADOFF UPDATE
http://www.nypost.com/seven/01292009/news/regionalnews/madoff__im_weakened_at_bernies_152557.htm
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'Mini-Madoff' Accused of $400M Ponzi Scheme Surrenders
HICKSVILLE, New York — The FBI says the owner of a Long Island investment firm has turned himself in to face accusations he cheated clients out of more than $100 million.FBI spokesman Jim Margolin says Nicholas Cosmo surrendered on Monday night.
Cosmo runs Agape World Inc. in Hauppauge. He's accused of taking in $300 million from investors and cheating them out of about $140 million.
A letter hanging in Cosmo's office window denies there was any pyramid scheme, the type of fraud Bernard Madoff is accused of committing. A Ponzi, or pyramid, scheme promises unusually high returns and pays early investors with money from later investors.
Cosmo is expected to appear in court Tuesday.
Defense attorneys at the Herrick Feinstein law firm haven't returned telephone calls seeking comment.
Friday, January 23, 2009
HOT SAUCE FEEDBACK
BERNIE MADOFF BIO--JAN 23
Bernard Madoff, "Bernie" to his Wall Street pals and deep-pocketed investors, launched his financial career with $5,000 earned as a Far Rockaway lifeguard.
That was nearly a half-century ago. Today, investors with Madoff's firm are drowning after the former Nasdaq chairman admitted fleecing his customers of $50 billion.
Madoff, 70, was known as a quirky figure inside his company offices at Manhattan's Lipstick Building. Still, he was respected for his uncanny - and apparently illegal - ability to generate cash for his clients.
The Hennessee Group, which tracks investment performance, says Madoff's firm suffered just five down months in 13 years between 1993-2007.
"He was God to people," said Charles Gradante, one of Hennessee's co-founders.
The relentless success raised hackles and suspicions among Madoff's critics. It also allowed Madoff to own homes in Manhattan, France and Palm Beach, Fla., along with a yacht.
The self-made Wall Street heavyweight recruited many of his clients at New York and Florida country clubs, including the Palm Beach Country Club.
His big-bucks roster of clients boasted Sterling Equities Inc., the investment firm led by Mets owner Fred Wilpon.
The investor with a passing resemblance to actor Robert Loggia was a donor to the Democratic Party and Jewish organizations, including Yeshiva University.
The school announced Friday Madoff had cut all ties with Yeshiva, resigning as a member of its board of trustees.
While other brokerage firms were bought out by larger operations, Madoff Investment Securities LLC remained a family business - right to the end.
His sons, Andrew and Mark, turned Madoff in Wednesday night after the father confessed his economic sins, said Martin Flumbenbaum, the brothers' lawyer.