What would you say is different about this case, or what about the environment has changed, as compared to Madoff in 2008?
Madoff confessed to his sons and said he was imminently going to surrender to authorities, his sons called the FBI, the FBI interviewed him at home (no arrest, no warrant, no indictment), and he confessed to the scheme being a large scale fraud to the FBI.
And Madoff was physically within US jurisdiction.
And Madoff had much clearer records and much less complicated an organization that the FTX network of companies, which seems to have been highly optimized to conceal specific evidence of fraud and theft by, between, and by insiders against the companies in the network.
It's strange to see people actively seeking a space outside of the government's legal jurisdiction, and then getting incensed that the government isn't entering that jurisdiction more quickly to protect them when things inevitably go sideways.
Crypto users that espouse freedom from government are usually talking about being able to use crypto, on chain, without government interference. They don’t want to be taxed for using bitcoin as a currency, be able to use decentralized services without complex regulations and tax laws, etc. etc
I’ve never heard the case made that asset custodians should be able to steal assets from their customers regardless of the underlying asset.
When the scam fell apart he even confessed to them so they could immediatelly report him to the FBI.
After all they didnt know anything!
He definitely did everything on his own and definitely didnt make this move to save his children.
The fact that Madoff is the only one in prison while his innocent children and innocent employees are free shows that the justice system works!
One of his sons, Mark, committed suicide on the 2 year anniversary of Bernie's arrest. It was his second attempt. The suicide note he left (his first attempt) read in part: "Now you know how you have destroyed the lives of your sons by your life of deceit. F*ck you"
Let's be careful before rushing to judgment.
Ken Lay, who did not admit to crimes, took 3 years to be indicted and then was convicted.
Plus her sons, who actually turned their dad in: one killed himself over this, and the other died of lymphoma (won't comment on psychological stress, but you have to imagine the fallout from the scandal didn't help).
[1]https://www.npr.org/sections/thetwo-way/2009/06/ruth_madoff_...
I guess I'm glad that Alan Turing was never convicted of 'Gross Indecency' then! Makes the UK look a lot more progressive!