http://dealbook.nytimes.com/2012/06/27/p....

Quote:

On Friday, Peter Madoff — more than three years after his brother, Bernard, confessed to running a vast Ponzi scheme that swindled investors out of billions of dollars — is expected to appear in Federal District Court in Manhattan and plead guilty to criminal charges, according to prosecutors. He would be the first relative of Mr. Madoff’s to admit to wrongdoing in connection with the fraud.

Peter Madoff has agreed to a prison term of 10 years, prosecutors said in a letter filed with the court on Wednesday. As part of his plea deal, he has agreed to forfeit $143 billion, a staggering penalty that he is not likely to be able to pay. But it is a government calculation based on the amount of money that passed through the firm and a clear indication that prosecutors will seize all of his assets.

The guilty plea does not amount to an admission that Peter Madoff knew about or participated in his brother’s Ponzi scheme. Rather, it confirms the government’s allegations that Peter Madoff served as a sham compliance officer who exercised little if any legal oversight over the firm’s operations, effectively enabling his brother’s crimes.

Yeah, and just WTF are all the so-called government financial sector regulatory agencies doing?



The government prosecutors are just as much criminals as Peter Madoff and his brother. Wonder why all these schmucks who get cut out of the herd for the show trials don't deal with their accusing criminal peers as petty malefactors?

Did the Nazis over-awe their Jewish victims in the same ways before their murder sprees?