The US District Court is sending Ms. Madoff on a shopping spree! Page 16 news in yesterday’s Financial Times (“Madoff Freeze Partially Lifted, March 3, 2009) states that Bernard Madoff’s wife gets to keep the $62m in her bank accounts because it is “unrelated” to her husband’s alleged $50bn fraud. We must thank the Court for providing us with a useful legal blueprint for would-be alleged fraudsters. Just transfer it to the wife’s “housekeeping” account and all will be forgiven.
The law requires us to use the term “alleged” in front of the term “fraud,” because only a court of law possesses the wisdom to declare whether a fraud has been committed…even though people are out $50bn and some change…and we all know what that is – a good weekend at Bernie’s!