Thursday, February 17, 2011

'US Banks Complicit in Ponzi Scheme'

Disgraced US investment manager Bernard Madoff, who masterminded a multibillion-dollar Ponzi scheme, says banks and hedge funds were “complicit” in his fraud.

In his first media interview since his arrest over two years ago he told the New York Times that the bankers and investors who were either his clients or of which he was a customer "had to know" about the scheme.

Madoff refused to name any particular bank or entity but the heat has turned up on JP Morgan Chase, who faces a USD 6.4 billion lawsuit filed by the trustee for the Madoff estate who is trying to recover investors' lost money.'



  1. Well, having been a victim of mortgage fraud where the bank (Lloyds Bank and Cheltenham and Gloucester building society) complicitly took part in these frauds with a vast gang of criminals and corrupt individuals. I was tricked into buying a house, which in the past has been used for a great number of frauds and scams and was defective, unknown to me.

    After reporting the matter to the FSA, who in my view helped to cover up the scam, the Law Society were also involved in covering up the scam, knowing the bank and building society would be implicated.

    Instead, they have all conspired to try to ruin me and spread false information about me, they have lied about me to employers, got me fired from jobs, want to see me broke and beat down, so that they could repossess the house and cover up all the evidence.

    They have even sent people to victimise me, parking outside my house and keeping me under constant surveillance, following me around and gettimg people to take pictures of me in public, spreading false information and lies about me all over the place, tried to ruin me and get me labelled as a terrorist, all because I found out about their criminal activities that they all tried to cover up.

    They even tried to set me up in some stolen bank cheque frauds, but I told the guy to stop calling me because I smelled a rat. This particular guy worked for RBS. Unfortunately fior them, I figured it out. Besides, I am not a crook, so once the guy told me he was arrested for paying some stolen cheques into his account, I started to distance myself from that criminal. I figured out it was a set-up anyhow, because that guy was a huge liar.

    Anyway, I would call it a conspiracy, but this is real, and not some made up story.

    There is more to this story, but I want to speak to some major newspapers about it, because these banks, who went cap in hand to receive bailouts, actually willingly participate with crooks and fraudsters. A fact.

    So, I personally, would not be too surprised about Madoff's allegations, although, he seemed to be a huge fradster himself, but I am positively certain that the banks knew about it, but turned a blind eye since they were all making money. Same as they did with these so calle sub-prime mortgages. The banks wrre actively involved, until they got caught, then they tried to blame the people who bought the houses when in fact they have masterminded majority of it.

  2. I meant to say fraudster, not fradster.

    (When I'm tired, I can't spell).

    Yes, banks actively participate with criminals. I said it and I would like to see someone sue me, if that is a lie. I would also be glad to provide some proof, should Lloyds Bank wish to start shouting about this. They have all conspired against me to ruin me and cover up their fraudulent activities with corrupt and criminal Solicitors as well as fraudulent crooks.

    (Maybe, I have just had enough of the BS and conniving snakes)

    I also reported these frauds to the SOCA or was it City of London police who have dragged their feet and moved at snail pace. Instead of moving quickly to bust all these criminals, they have been following me around and trying to get people to involve me in all kinds of criminal activities.

    I have to speak up now, because I have been harassed enough.

    When I reported these frauds to the FSA back in 2007, first thing they did was get me fired from my job. They then tried to repossess my house to cover up the evidence with falsified documents that I had never seen before the court hearing. I have never seen my mortgage file. The fraudulent Solicitor did not give it up, and when he was shut down, all the files were taken by another Solicitor firm, who I called on a number of occasions but never got back to me. I think the bank took it to cover up the evidence.

    When I re-opened my complaint to the Law Society, they came and burned down my fence to the ground, in the middle of the night, to keep me quiet.

    Ever since they have set up an agenda to blacklist me everywhere and make my life hell, to break me down and cover up their criminal activities.

    There is more to this story anyway, that is just a scratch on the surface, but it does piss me off when I see that greedy bunch getting bailouts and putting the blame on innocent people, when they know what they do is evil.

    Banks DO knowingly participate in fraudulent activities. FACT!


Thanks for your comment it is much appreciated.