Bill Herbert

Don't Be Scammed by Madoff Investor Sob Stories

I agree - the Madoff "investors" should not get anything from SIPC. First of all, this was a Ponzi scheme, and I believe many of these so-called "investors" suspected some sort of front-running, market manipulation, insider trading, or other skulduggery by the supposedly-clever Madoff. Many have made statements that clearly show they knew Bernie's operation wasn't exactly on the up-and-up, but they loved the 'returns' they thought they were getting, and were a bit too greedy and clever for their own good.

Turns out - Madoff was just a common shyster, a ripoff artist who conned people into thinking he had a way to beat the market, when experts were all but proving it was a scam.

When you provide money to someone you think is running a fund that engages in some sort of dodgy activity to make a profit in the markets, you are not an investor - you are a part of what I would call a racketeering operation, and are no better than a mobster who provides backing to a guy running a crap game in the basement of some bar. You are abetting illegal activity, and you expect your cut.

I sincerely hope that the SIPC is not corrupted by these rich, greedy bloodsuckers - and I wouldn't give them one thin dime of taxpayer's money. It is bad enough that the SIPC and the FBI will spend tens of millions to sort out the crimes of this ba$tard Madoff - that is far more than I would like to pay to rectify the crimes and make the pain equal to all who got taken in - but that's as much as they deserve, period!