Excerpt:
The Madoff scandal is a true life crime of immense proportions. Like all crimes there is a need for a detective, so let us play that part for a while, let us, in the fine traditions of Agatha Christie, Sherlock Holmes and Columbo, speculate a little. Here are the facts so far:- - Bernard Madoff, long time fraudster, woke up on Thursday 11th December, met his sons at his Manhattan apartment and decided to confess to them that his world renown investment business is "a lie", a giant Ponzi scheme. His son's, being good citizens, then called the New York Police and had their father arrested.
- Madoff confessed to the police that he had defrauded investors of $50 billion. He will no doubt have been read his "rights" so this confession is admissible in court. This was immediately reported to the regulators and the international media where, naturally, a storm broke over such an immense fraud. This is truly bizarre; think about it, think about how the US legal system works and ask yourself if a man in Madoff's position, a man who must be facing the rest of his life in prison, is going to confess!
- The necessary court hearings took place at which bail was set with conditions.
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