Madoff Ponzi Scheme

(Source : Yahoo )

The Madoff scandal gets worse and worse. The biggest loser in the ponzi scheme, a fund with $7.5 billion invested, now says they will sue Price Waterhouse.

The SEC looks terrible in this fiasco. It turns out there was one man who was sending the SEC all the red flags, statistics, facts and figures since 2000. He had even consulted mathematicians to prove that the numbers could simply not work. Over the years, he consulted with more than one SEC office and more than one top level SEC investigator and still, nothing happened. The SEC looked at the Madoff operation in 2006 and left without any enforcement or finding.

It now appears that $50 billion will be lost to investors, institutional clients and charities.

There has been a poster on this board who has vociferously claimed that since the SEC looked at Usana in 2007 and pursued no enforcement action, that meant Usana was cleared by the SEC and that is just not the way the system operates.

One guy. Crying out for years that the numbers simply didn’t work. Receiving a blind eye from authorities. PwC. There are a few similarities.

emilylatela

See more

You’re in good company with USANA Health Sciences. It all began with one man’s dream and has spread into a vision of a healthier world. With top-rated nutritionals, a fair and balanced compensation plan, and recognition from national business magazines, USANA has become synonymous with true health and true wealth. And it is only the beginning. Click on the links below to read more about USANA’s accomplishments :

 The Madoff files : Bernie’s billions (The Independent)
  Do you think Usana is going to continue with its strategy of "move along, nothing to see here..." ???
 Les noms des cabinets d’audits Pricewaterhouse Coopers et de Ernst & Young sont également évoqués par Deminor (Libération)
 Madoff : le fonds d’investissement "Fairfield Greenwich Group" au centre de l’affaire
 Fairfield Greenwich Group Vows to Pursue Recovery in Multi-Billion-Dollar Madoff Fraud
 Bradley Burston / The Madoff betrayal : Life imitates anti-Semitism (Haaretz)