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Oil Price.com (September 6)

2022/ 09/ 08 by jd in Global News

“The leadership of the European Union has been hard at work these days, trying to find a lasting solution to an energy crisis that is worsening by the day. Yet the way they are approaching the solution is unlikely to produce any lasting results…. It has been compared to a Ponzi scheme.”

 

Bloomberg (October 14)

2015/ 10/ 15 by jd in Global News

“Ernst & Young LLP took Bernie Madoff at his word when it signed off on audits of a fund that helped feed the biggest Ponzi scheme in U.S. history. The firm must now defend that decision at the first trial of an auditor over losses tied to Madoff, who’s serving a 150-year prison term for stealing billions of dollars from thousands of investors.” The case will be tried by jury in a state court in Seattle and comes just after “the Public Company Accounting Oversight Board, the lead U.S. audit regulator, warns that one in three audit opinions in the U.S. lack appropriate supporting evidence.”

 

Newsweek (June 7)

2010/ 06/ 09 by jd in Global News

Bernie Madoff is serving 150 years in prison for defrauding investors of billions in the world’s biggest Ponzi scheme. According to his prison mates, Madoff isn’t feeling sorry for what he did or those he wronged. Madoff is reported as saying, “F–k my victims…. I carried them for 20 years, and now I’m doing 150 years.” He told others his clients were “rich and greedy and wanted more,” and that his only crime was taking their money.

 

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