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FBN’s Adam Shapiro discusses Bernie Madoff’s claims that feeder funds are as guilty as he is.
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Picking is now our own Adam Shapiro exchanging emails with convicted Ponzi schemer Bernie Madoff and ask this earnings flies around the -- Hello with details Adam.
Extra money why this is really important on these days we just had a ruling from the Court of Appeals which is -- and denied people who invested in Madoff.
Via those feeder funds like Fremont Fairfield Greenwich.
They're not gonna get money back and they have lost another round in court.
And now we got -- sending us an email where -- saying look.
I -- you know he talks about the loans he gave his son's he's saying the feeder funds were doing the same thing quote during the two visits with the trustee & Associates I told them.
That it was crucial for them to Trace the source of the original investment principal including accounting.
Freddie inner family money transfers.
To related accounts like trusts and gets Madoff goes on to say quote I believe that it was possible to recover all of my clients investment principle although both the trustee in the US attorney said I was being delusional.
By making this claim.
He talks about the feeder funds it doesn't name them in the email but he talks about feeder funds essentially passing -- on to their principles as well as family members were posting this up on fox dot com on foxbusiness.com.
He also reiterate something that he -- -- in previous emails where he says he's told the trustee and US attorney that the banks he did business -- this is a quote.
Had to know what I was doing regarding the fraud -- have much more of this coming up at 2 PM as well as on foxbusiness.com.
Shibani.
Fascinating and news and developments Adam Shapiro we look forward to.
