Thursday, March 26, 2009

Judge Freezes Peter Madoff's Assets

It may be a good idea right now to freeze the assets of anyone related to Bernie Madoff, don't you think?
A Brooklyn Law School student, who says his trust fund was thrown away in the Bernard Madoff mega-Ponzi scheme, yesterday got a judge to freeze the assets of Madoff's brother.

Peter Madoff, who had been trustee of law student Andrew Ross Samuels' now-destroyed $480,000 trust fund, is barred from selling any property or withdrawing any money at least until after an April 3 hearing in state Supreme Court in Nassau County.

Peter Madoff "knew or should have known" his brother's Manhattan investment firm was a fraud when he placed Samuels' fund with the firm, said Steven Schlesinger, Samuels' lawyer.

"It's good to see we're making progress towards getting the money," said Samuels, who said he wanted to use the funds to get started with his career.

Samuels' father, Howard, accused Peter Madoff of being "either incompetent or in cahoots [with his brother.]"

Peter Madoff was the compliance officer and senior managing director of his brother's firm.
In a stunning development, it turns out Peter Madoff also liked to shower money on Democrats, with the odious Chuckie Schumer a prime beneficiary. Chuckie received at least seven contributions from Peter over the years (and many more from brother Bernie), and Hillary Clinton got herself a few in recent years. Those Madoffs sure love the Democrats.

No comments: