Nomura: $306 million exposed in Wall Street Ponzi scheme

The biggest scam ever.

Naturally, the perp sought to buy off politicians.

So, which party did he go with?

"Very few media stories of the fraud perpetrated by former Nasdaq chairman Madoff mentions the heavy financial support that Madoff has donated to the Democrat Party. Campaign contributions by Madoff show many thousands of dollars going to Democrat candidates and causes. Including $100,000 to the Democratic Senatorial Campaign, thousands to Charles Rangel (D, NY), Charles Schumer (D, NY), and $6,000 to the Securities Industry and Financial Markets Association. Madoff also gave generously to Senator Frank Lautenberg (D, NJ) who runs a charitable foundation that invested with Madoff."

http://newsbusters.org/blogs/warner-todd-huston/2008/12/14/media-forgets-wall-street-rip-artist-big-democrat-donor

Someone is on the wrong route. Anything that is punishable and handed over to police, prosecutor and court of law is 'CRIME.' Bernard Madoff defrauded and fraud is a 'crime.' In this case it is in business and still is the crime. Churches are also in business and if they are defrauding their own religion they are also responsible for crime. No one is above the law. Accused defrauded a security company and that is a crime punishable under the crime act. Security company in this instance is a victim of crime because of a 'crook money hungry scumbag.'

ALL of the 'victims'.. they just looked at those thoroughly implausible 10-12% yearly returns and that was all they needed to see. Incredible that it dawned on NO ONE to see how he did it. No one added the value of the 'investments' (if there were any) as long as the paper said, "you're rich!".

thieves stealing from thieves

helloklitty: Ah, gee ok, if you recommend their stock, i'll buy it!! NOT

give me some reasons why anyone should buy that stock.

Why Nomura is in CRIME section? Business is no crime !

But Ponzi schemes are, and Nomura is the victim of a Ponzi scheme. Simple.

I received a Ponzi decoder out of a cereal box when I was a child. I had no idea how it worked, but it could have saved Nomura 306M.

=it seems adults are easily trapped by childhood games.

Nomura is screwed. $306 million is no small change, even compared to its capital base. Nomura is just inept in everything it does.

Nomura is an excellent company. I highly recommend buying their stock.

The article mentions Santander. Anyone know anything about this?

Santander is facing the biggest exposure so far, at over $3 bn

The article mentions Santander. Anyone know anything about this?

Why Nomura is in CRIME section? Business is no crime !

wanderlust： yeah... they gonna dump Lehman Brothers rests.

On top of the costs sustained with their purchase of parts of Lehman Brothers, Nomura must be bleeding now...looks like they have overextended just like RBS. Will they come to J-Gov with the begging bowl, asking for a bailout?

Apparently he has just been released on bail of $10m. If you accosted a robber who had just stolen $500 out of your wallet, would you accept a promise from him not to run away if he gave you a bond of 10 cents? (Hint: He still has $499.90 of your money).

Nomura is screwed. $306 million is no small change, even compared to its capital base. Nomura is just inept in everything it does.

Suckers. Never trust another man with your own money.

PWNED!

Just as Warren Buffet quoted “Only when the tide goes out do you discover who's been swimming naked”