The Beat: Small Boys and Big Toys
Stating the obvious here, but how does one expect to hide such a big toy when playing with financial fire? Read the shocking story below regarding Madoff’s errors in life and how he thought a 27 meter yacht would not aid in the paper trail to his conviction.
On a side note: This is all just so tragic. I’m sick of dirty news—but it’s a reality. I sit back in bewilderment most days thinking wow, the financial markets collapased the same time as the Madoff scandal and look at the ripple effect it has on our planet—I really hope the individuals in this world are continually looking inward and taking stock of themselves and then looking at the world around them to see how WE as ONE can make an impact for good in our environments.
It’s up us to make a change. No one else. Just us. So next time you don’t like the way something is being done, take responsibility—take action. Get educated, get involved, get a voice. Make a difference. You’ll be happy you stood for something and participated in life.
BERNARD MADOFF bought a £5m luxury yacht in the south of France using cash channelled through the self-confessed fraudster’s London office.
An investigation by The Sunday Times has revealed that the 27-metre Leopard cruiser was one of a number of trophy assets acquired on his behalf through Mayfair-based Madoff Securities International.
The motor yacht, named The Bull, like its sister ship in Palm Beach, Florida, was built for Madoff in 2006.
According to sources close to the transaction, Madoff told directors in London to transfer money to a French shipyard. The reason he gave was that the London operation already had euro bank accounts which would make the transaction easier.
Continue at Times Online.
