Posted by: Lee Phillips
Bernie Madoff’s wife Ruth is still living a life of luxury even though Bernie has been sent to jail for 150 years. While she will probably not spend time in a cell, there is a good chance she will lose more of her assets. Her troubles come from a “commingling” problem that was triggered when Bernie’s company BLMIS transferred money to her and other companies ...
Posted by: Lee Phillips
There are a couple of lessons learned from the Bernie Madoff scam that business persons can make sure they are observing. Bernie and his wife made a couple of mistakes. (Well, maybe more than a couple.) They were just flat out illegal in most of what they did, but they made mistakes that you can avoid when you are trying to protect your assets. Every businessperson needs to pay attention to these basic rules. The ...
Continue Reading →Posted by: Lee Phillips
Bernie Madoff went to jail, but his wife is still living in the big penthouse. There is still a good possibility she will spend some time in a cell, but it won’t be because she owns lots of assets. Her problem is she was working in the business and has committed the same types of illegal acts as her husband. There are a whole bunch of asset protection lessons that can be learned from the Madoff disaster. ...
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