(not a Madoff victim nor a New Yorker), I'm finding this issue a guilty pleasure to read....and the more I read, the more I can't help but wonder why Madoff isn't adorning a NYC jail cell...

-5.75,-4.05
"God gives men a brain and a penis, and only enough blood to run one at a time." -- Robin Williams

I read Madoff has 4000 clients. That's 200 statements per day for monthly statements.

If each statement takes 10 minutes, that's 2000 minutes/day and there are only 1440 minutes in a day.

It had to be a team effort, not a Lone ranger. I estimate a team of 20 to 30.

CBS News Investigates: Brother Of Bernard Made Florida Real Estate Moves That Raise Questions About How Much Family Knew

CBS, by Armen Keteyian, January 30

New York - When former financier Bernard Madoff was arrested last month and accused of swindling clients out of $50 billion, he insisted his family members were in the dark, even though some of them held key positions in his investment firm. But now, a CBS News investigation by Chief Investigative Correspondent Armen Keteyian has uncovered evidence that raises questions about what Madoff's family knew - and when they knew it.

In Palm Beach, Fla., there are two lavish homes within 10 minutes of each other. The first, worth an estimated $9.3 million, belongs to Bernard Madoff. The other, said to be worth $4.6 million, is the Florida residence of Peter Madoff, Bernard’s brother and long-time business partner.

The paper trail on these two residences calls into question what family members may have known.

CBS News has learned that Madoff and his brother, along with their wives, took steps two years ago -- around the time that federal regulators started probing Madoff’s business activities -- that could help prevent their Florida homes from being taken away from them, something possible under Florida state law.

"Florida has very unique laws and has been described by some as a debtor’s haven," said John Pankauski, a Florida estate attorney. "People who may want to protect their property will seek the protection of Florida laws."

[...]

"Why are you transferring assets to your spouse? What caused that transfer? If you are transferring assets for estate planning purposes why wasn’t it done before?" said Pankauski.

[...]

But, information obtained exclusively by CBS News reveals that it wasn’t until Dec. 10, 2006, that Ruth Madoff applied for homestead exemption. This was within weeks of when her sister-in-law Marion applied for the same exemption.

"That raises a red flag," Pankauski told CBS News. "When you have two spouses of two executives who are being investigated by the SEC going down to Florida saying 'hey, I want homestead status.' It draws into question why it was done. It’s highly suspicious."