Monday, January 24, 2011

Jeffry Picower's widow of Madoff refund - "Settlement honors what Jeffry would have wanted!"

Compliments NEW YORK ( The effort to recover money for victims of Bernard Madoff took a dramatic turn Friday when Preet Bharara, U.S. attorney for the Southern District of New York, said that the widow of one of the Ponzi scheme's biggest beneficiaries agreed to turn over $7.2 billion. She had agreed to return "proceeds" collected over 35 years. His widow has denied that her late husband knew he was benefiting from a scam. "I am absolutely confident that my husband Jeffry was in no way complicit in Madoff's fraud and want to underscore the fact that neither the trustee nor the U.S. attorney has charged him with any illegal conduct," she said. Picower also said she hopes the settlement will ease the suffering of the victims.
Full article HERE

Interestingly, Barbara professes her late husband’s innocence and has said that she wants to return the money because it’s the right thing to do.“This settlement honors what Jeffry would have wanted,” she said in a prepared statement, “which is to return this money so that it can go directly to the victims of Madoff.” If this is true - what what a powerful and moral response! Kudos to Barbara! She did the right thing!!!!!

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