Saturday, 7 March 2009

Confront Madoff at his March 12th Hearing

Bernie Madoff and his trademark smirk will appear in Manhattan's Federal District Court on March 12, 2009. At that time, he will be arraigned on the charges against him. Madoff is expected to take the easy way out; plead guilty; cooperate fully with the U.S. prosecutor; and, hopefully, implicate other Wall Street crooks involved in his $50 Billion Ponzi scheme.

Milton Friedman and his Chicago Boys should be proud of Bernie Madoff. Madoff's massive Ponzi is a classic case of Friedman's deregulation, gone beserk. Madoff has turned the world upside-down, particularly Latin America, with banks, institutions and charitable foundations --- all near bankruptcy. But what about the poor Latin people, supported by those foundations? They should be the ones, present in Manhattan Federal Court, to face-down Madoff's smirk with their impoverished eyes.

Judge Denny Chin has set March 11, 2009 as a deadline for potential victims who wish to be heard at during Madoff's March 12th plea proceeding. This will be the first opportunity, hopefully of many, where those duped by Madoff can vent their spleen. Madoff's March 12th "plea proceeding" is the first step in order for Madoff to enter a plea agreement. Witnesses will likely be given other future opportunities, to testify against Madoff at his pre-sentencing hearing, after a guilty plea is entered. However, those who wish to go to New York, particularly Latin Americans, should make plans quickly.

We will consider representing Latin American clients, on a "Pro-Bono" (no charge) basis --- if they wish to testify against Madoff in his criminal proceeding in Manhattan. We are also willing to advise Latin clients on their US legal rights, with immediate focus on the July 2, 2009 deadlines to: file claims with the US Federal Bankruptcy Court and to file a claim with the Securities Investor Protection Corp (SPIC). The SPIC says that it has already sent out four checks to Madoff investors, found eligible to receive up to $500,000 in Federal compensation. Please contact us at