SEC, Madoff agree to settle civil fraud case

[Sapiens]

http://news.yahoo.com/s/ap/20090209/...madoff_scandal

WASHINGTON – The Securities and Exchange Commission on Monday announced an agreement with disgraced money manager Bernard Madoff that could eventually force him to pay a civil fine and return money raised from investors.

The partial judgment must be approved by the judge overseeing the Madoff case in federal court in Manhattan.

The civil proceeding is separate from the criminal case against the prominent Wall Street figure, who is accused of bilking $50 billion from investors in what may be the largest Ponzi scheme in history. Madoff was arrested in December after allegedly confessing to his sons that he had stolen from investors for years.

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Here is to you Bernard!

[Sapiens]

Re: SEC, Madoff agree to settle civil fraud case

"If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem." -J. Paul Getty

http://www.brainyquote.com/quotes/au...aul_getty.html

[petertribo]

Re: SEC, Madoff agree to settle civil fraud case

that could eventually force him to pay a civil fine and return money raised from investors.

Wow, the SEC sure is cracking down on these hardened Criminals and their Economic Terrorism. Madeoff may actually, eventually be forced to pay a civil fine!!!

And, he may have to return money to investors!!!

Sure looks like they must have used some of that new and improved enhanced interrogation on this sociopath.

I do wonder though if this guy will have any money to pay any such fine or to reimburse investors. Uh, maybe the SEC already knows that?