The fact that Madoff’s Screw Sculpture Is Excluded From Evidence at Trial (tipped off by @WaltPavlo) is amusing to a non-party, reminiscient as it is of Bill Murray’s character (Frank Cross, the Ebenezer Scrooge character) in the movie Scrooged (1988), a remake of “A Christmas Carol.” Frank Cross: We’re gonna need champagne for 250 people, and send the stuff that you send to me. Don’t send the stuff that I send to other people. There are, however, some serious implications. The sculpture was recovered from Madoff’s office after his 2008 arrest for masterminding a Ponzi scheme that cost investors about $17 billion in lost principal. Five former Madoff employees…
Today’s collection of white-collar stories from Walt Pavlo, here — 500 Pearl Street In particular, note the story about the alleged Ponzi schemer who tried to placate investors by offering to name them as beneficiaries on a life-insurance policy; wait out the two-year suicide clause; then kill himself. One wonders what kind of retainer he offered when he was hiring counsel.