Corrupter Jeffry Picower: Made $7.1 Billion with Madoff and

Started by CrackSmokeRepublican, October 27, 2009, 10:51:51 PM

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CrackSmokeRepublican

October 27, 2009, 10:51:51 PM
Our Coverage of Jeffry Picower, Who Made Billions From Madoff Scheme
by Alexandra Andrews, ProPublica - October 26, 2009 11:34 am EDT


The Picowers' portrait at MIT's Picower Institute for Learning and Memory (Photo by Ryan Mark)

Jeffry Picower, the 67-year-old businessman and philanthropist who reaped billions from Bernard Madoff's Ponzi scheme, was found dead in his pool [1] on Sunday. As ProPublica's Jake Bernstein reported in June, Picower netted more from the scheme than Madoff himself did [2]: upwards of $7.2 billion [3], according to a lawsuit filed by the trustee liquidating Madoff's firm.

Picower regularly withdrew large chunks of cash from his accounts with Madoff, which as we put it, earned "otherworldly [2]" returns. (Here's our chart of Picower's withdrawals [4].) The trustee's suit [5] contends that Picower knew or should have known that he was profiting from a fraud. A lawyer for Picower has called those allegations "baseless [6]."




http://www.propublica.org/feature/our-c ... cheme-1026

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Picower was said to have extracted billions of dollars from Madoff's investment scam, widely considered the biggest Ponzi scheme in history. He had not been criminally charged in connection with Madoff, but was the target of a pending bankruptcy action.

A lawyer who grew up in the Bronx, Picower had just clawed his way on the Forbes 400 list of the richest people. He made the list this year at number 371 with an estimated net worth of $1 billion, reportedly based on his profit on the 2004 sale of medical-device maker Alaris.

His career includes stints in accounting, reportedly promoting tax shelters, and as an arbitrage investor who would engage in takeover offers during the 1980s. He invested in several medical and technology companies.

He reportedly was one of the largest investors in Ivan Boesky's arbitrage funds, before Boesky went to prison as part of the insider-trading scandals of the late 1980s. Picower is said to have had $28 million in Boesky's arbitrage fund.

Madoff trustee Irving Picard sued Picower in May to recover what the trustee said was more than $5 billion in profits from the Ponzi scheme for other investors. Picower was trying to get the suit dismissed.

In an e-mailed statement Sunday, Picard said only that "litigation will continue."

After the Madoff scandal broke in December, the Picower Foundation said it would have to cease grant-making and would be forced to close.

Beyond Palm Beach County, the foundation gave millions to the Massachusetts Institute of Technology, Human Rights First and the New York Public Library. It also funded diabetes research at Harvard Medical School.

Tana Ebbole, chief executive of the Children's Services Council of Palm Beach County, said the loss is more than financial.

http://www.sun-sentinel.com/news/local/ ... 5688.story
After the Revolution of 1905, the Czar had prudently prepared for further outbreaks by transferring some $400 million in cash to the New York banks, Chase, National City, Guaranty Trust, J.P.Morgan Co., and Hanover Trust. In 1914, these same banks bought the controlling number of shares in the newly organized Federal Reserve Bank of New York, paying for the stock with the Czar\'s sequestered funds. In November 1917,  Red Guards drove a truck to the Imperial Bank and removed the Romanoff gold and jewels. The gold was later shipped directly to Kuhn, Loeb Co. in New York.-- Curse of Canaan

scorpio

#1
October 29, 2009, 04:49:17 PM
This death is extremely suspicious.
Perhaps the Mossad is tying up some 'lose ends'
According to Tex Marrs, much of Madoffs money was transfered to the Israeli Discount Bank (over 700 transfers over the years)
This is the epitome of the Jew corruptor.
BTW he died in the pool of his $30 million Palm Beach home.

I have been involved in the business and art world for many years.
Ohhh the stories I could tell.....

CrackSmokeRepublican

#2
October 29, 2009, 09:48:17 PM
I agree there Scorpio,

He was probably going to get the books really opened up since Madoff pleaded guilty and didn't need an "investigation" like Picower. An investigaion of really where the Jew stolen money went would become an Israeli scandal as well. The US press has done a fairly decent job of containing the Israeli Ripoff Jew factor in the Global Jew Economic Scams Crises -- but the Jew Usurious Scams and Crap is flowing just below the surface -- kind of like a polluted lake.

I'm sure the Israel Banks, Universities and Endowment funds were first in line for Jewish stolen money. Therefore, Picower was probably  slipped something, or they had a remote Sonic /Tazer type device.  Most intelligence agency hits are one of the following:  1. Fall 2. Car accident  3. Plane accident  4. Random Mugging/murder 5. Apparent suicide by gunshot 6. Apparent suicide by hanging.  7. Drowning 8. Electrocution
Now heart attack isn't on the list but they probably have a tuned frequency to drop people from heart attacks at a distance these days. If they Sonic and Wave cannons/guns to disrupt crowds, they probably could tune them for affecting heart rhythms.
After the Revolution of 1905, the Czar had prudently prepared for further outbreaks by transferring some $400 million in cash to the New York banks, Chase, National City, Guaranty Trust, J.P.Morgan Co., and Hanover Trust. In 1914, these same banks bought the controlling number of shares in the newly organized Federal Reserve Bank of New York, paying for the stock with the Czar\'s sequestered funds. In November 1917,  Red Guards drove a truck to the Imperial Bank and removed the Romanoff gold and jewels. The gold was later shipped directly to Kuhn, Loeb Co. in New York.-- Curse of Canaan

scorpio

#3
October 29, 2009, 10:56:57 PM
Quote from: "CrackSmokeRepublican"He was probably going to get the books really opened up since Madoff pleaded guilty and didn't need an "investigation" like Picower. An investigaion of really where the Jew stolen money went would become an Israeli scandal as well. The US press has done a fairly decent job of containing the Israeli Ripoff Jew factor in the Global Jew Economic Scams Crises -- but the Jew Usurious Scams and Crap is flowing just below the surface -- kind of like a polluted lake.

Yes, an 'investigation' could have proved rather embarrassing for the Israeli power matrix.
Good point about the endowments, foundations & universities, ect. A great way to launder the money and fuel their system.
Mullins has a whole section on endowments and foundations in his book The World Order
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