$7.2 billion for Jeffry Picower!

[Freeman]

another Kosher fraud around Madoff scandal:
Jeffry Picower is the second big beneficiary from this Ponzi game, he is sued for $5.1 billion he is alleged to have earned from his participation in Bernie fraud!

Picower represents himself as "holocaust survivor" and philanthropist in palm Beach

Madoff trustee ups claim against investor Picower

 

[Justin Case]

"Picower makes the paradoxical argument that he could not have been complicit in the Ponzi scheme because he made too much money from it," Picard wrote in the filing in U.S. Bankruptcy Court in New York.

Isn't that how the scheme was supposed to work? Those first in propped up the "investments" to give an appearance of fantastic returns. Money from later investors was then used to pay the original group of scammers. So how does Picower's argument exemplify his innocence?

 

[editec]

They keep referring to him as "trustee"

Trustee of what, exactly?

Madoff's corporation/ponzi scheme?

Sure looks guilty as hell, but I don't understand his role in the scandal well enough to say for sure.

 

[Freeman]

They keep referring to him as "trustee"

Trustee of what, exactly?

Madoff's corporation/ponzi scheme?

Sure looks guilty as hell, but I don't understand his role in the scandal well enough to say for sure.

this zion mogul received 950% as yield rate!!!, it's a joke

 

[Freeman]

"Picower makes the paradoxical argument that he could not have been complicit in the Ponzi scheme because he made too much money from it," Picard wrote in the filing in U.S. Bankruptcy Court in New York.

Isn't that how the scheme was supposed to work? Those first in propped up the "investments" to give an appearance of fantastic returns. Money from later investors was then used to pay the original group of scammers. So how does Picower's argument exemplify his innocence?

he gained billions and he claims to be a victim