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Don't Be Scammed by Madoff Investor Sob Stories

1. Madoff's return might be modest for a hedge fund, but the steadiness was absolutely unreal, indicating foul play. Apparently, according to the SEC complaint in April 2008, it was open secret among exotic trading desks that Madoff's fund is a fraud.
2. Some of these investors are doing some sort of off-shore account to avoid taxes, so they are taking a hit but they have no way of complaining without having to explain to the IRS.
3. I feel sorry for the charities; as they are the only ones having legit reason to make public their losses. I wish the donors didn't decide to use some shady hedge fund to manage thier funding.