Bad News for Victims of Ponzi Scheme
Victims of Mad Madoff’s illegal Ponzi scheme would cringe. Just recently, Bernard Madoff’s nine-million dollar Florida mansion lost two million off its net worth. Madoff couldn’t care less of course, since he and his wife are already tentatively agreeing to the sales of the luxuries for the repayment of the Ponzi scheme victims.
But as for the victims? The slump in the real estate industry could only spell bad news for them. Lower prices means less would be distributed to the victims of the Ponzi scheme. When Madoff finally goes to jail, people would jubilate. One hundred fifty years in the slammer is not enough repayment for what he has done to thousands of victims.