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Except Madoff had to conceal an accounting hole. If he ever stopped, his investors would ask for their $x back, and he would have to give them $0.5x. I know the
by kolbe 6y ago
Except Madoff had to conceal an accounting hole. If he ever stopped, his investors would ask for their $x back, and he would have to give them $0.5x. I know there's a lot of room for cynicism in the financial world, but you still need to know what is happening for each type of fraud or misdeed or good action.
- redis_mlc 6y agoWhat was interesting about Madoff was that more than 0.5x was recovered (last thing I read it was much more), even considering the trustee billed over $1 billion in fees. Normally around 0.01x is recovered, as 99% is just blown on "expenses."