Tag Archives: Andrew Madoff

Letter from Patagonia?

Bernie Madoff flunky Sonja Kohn lost the Russian Mob’s money and now she’s in hiding. I’m speculating she’s in Patagonia because (a) it’s summer down there and (b) the Madoff boys probably told her how good the fly fishing is. But wherever she is, she sent an email to Bloomberg, protesting her innocence.

Kohn’s e-mail came from an address verified by a Bank Medici spokeswoman. Kohn said Madoff was “trusted by the best and smartest” and likened his scheme to a tsunami or earthquake that strikes “unpredictably and devastatingly.”..

…“The Madoff fraud destroyed lives, life savings and companies that were the result of decades of hard work,” she wrote. Madoff’s firm “was not an obscure hedge fund; it was a 48- year-old, highly visible firm with approximately 200 employees and over $600 million in capital,” she wrote.

Peter? Mark? Andy? Do you see that last part, where she’s referring to all those employees and capital? She’s talking about your firm, the one that didn’t know what Bernie was up to. Gosh, how could she get such a wrong impression, how could she think you guys were involved? Sure hope no one else made that mistake, or you could be sued!

3 Comments

Filed under Uncategorized

“That’s fine, Bernie, it reduces our paperwork”

Bernie Madoff made exactly zero trades, ever, through Madoff Investments. He probably made no trades at all through anyone, investigators think. I  don’t think this revelation helps brother Peter or sons Andrew and Mark – they knew Bernie was doing something involving trading and surely, in 30 years, they must have sneaked a peek at at least one client’s monthly statement and thus been aware of the volume of the supposed trading activity yet they never questioned why no trades went through their branch of the family firm? Never? When there were huge fees to be made from such trading? That makes no sense and certainly doesn’t pass the smell test.

Hoops, if you’re reading this, I’m free for coffee anytime, at your convenience. Let’s talk – the ice will be out of the upper Delaware in just a couple of months.

1 Comment

Filed under Uncategorized

More from John Carney

Will someone kill Bernie Madoff? Carney points out that some of the people who lost big with Bernie are the type who don’t take losing well: Russian oligarchs, Colombian drug lords, tax evaders, etc. I don’t want to be too melodramatic here, but I’ve pointed out before that Walter Noel and particularly his sons-in-law seemed to specialize on peddling the FGG magic beans to the same crowd. If, as Carney speculates, angry losers can reach Madoff in a prison cell, can it be that much harder to find the guy on a sunny beach in Spain or, God forbid, a bucolic stretch of fly fishing water on the Madison?

Comments Off on More from John Carney

Filed under Uncategorized

The Madoffs go shopping

Standing tall in the face of adversity

Standing tall in the face of adversity

He’s making a list
And checking it twice;
Gonna find out Who’s naughty and nice
Santa Claus is coming to town
He sees you when you’re sleeping
He knows when you’re awake
He knows if you’ve been bad or good
So be good for goodness sake!

3 Comments

Filed under Uncategorized

For sale: 57 Tomac Lane?

Turns out that Andrew Madoff, Bernie’s son, was served with divorce papers the day Dad was arrested. This sad news is mitigated, perhaps, by the suspicion that the couple may yet get back together – after the dust settles:

One somewhat more amusing revelation over the weekend is that Bernie’s son, Andrew, was served with divorce papers by his wife Deborah on the very same day Bernie was arrested, especially since the Post has photos of the divorcing coupleon a “holiday shopping spree” in Soho yesterday. A lawyer for Andrew Madoff says the split is “very amicable,” but we’re guessing the situation won’t be described as such when angry investors suing the Madoffs hear how Andrew turned over all his assets to his soon-to-be ex-wife as as part of a divorce settlement.

Will the pair’s weekend house in Old greenwich be put up for sale as the result of this unfortunate domestic situation? Stay tuned – it’s probably worth a mere $2.5 million or so, but Mrs. madoff may need every penny she can get, poor dear.

4 Comments

Filed under Uncategorized