The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multiculturalis

Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

I was speaking with a friend of mine who works for the FBI and was involved in the apprehension of the wonderful Mr Madoff ... when they entered Madoff's lavish lair to apprehend him, one of the senior agents apparently told him "Congratulations. You've ruined more Jews than Hitler." The agents all broke out in laughter.

Radical's Diary December 18, 2008 (Thursday)
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

http://www.foxnews.com/story/0,2933,471725,00.html

Report: Hedge Fund Founder Who Lost $1.4B in Madoff Scandal Dead in Apparent Suicide

Tuesday, December 23, 2008

E-Mail Print Share:

AP

Rene-Thierry Magon de la Villehuchet, of Access International Advisors, was found at about 8 a.m. Tuesday sitting at his desk with both wrists slashed. NYPD spokesman Paul Browne told the Associated Press officers found a box cutter near Magon and a bottle of sleeping pills on his desk. No suicide note was found.

Villehuchet, 65, had lost as much as $1.4 billion invested with Madoff, the French business paper La Tribune reported.

Villehuchet "could not cope with the pressure following the outbreak of the scandal," the Tribune's Web site said, quoting his relatives. "This is a farewell from someone who had done nothing wrong."

Click here for photos.

Madoff allegedly ran a $50 billion Ponzi scheme, wiping out investors around the world. The former Nasdaq chief is currently on house arrest.

It was immediately unclear what scrutiny de la Villehuchet was facing regarding his Madoff losses through his company. The prominent investor came from a long line of aristocratic Frenchman, with the Magon part of his name referring to one of France's most powerful families.

Bernard Madoff Scandal De la Villehuchet's fund enlisted intermediaries with links to Europe's high society, including Prince Michel of the former Yugoslavia and Philippe Junot, a French businessman who is the former husband of Princess Caroline of Monaco.

De la Villehuchet lived in an affluent suburb in Westchester County with his wife. They have no children. There was no answer Tuesday at the family's two-story house.

"He's irreproachable," Bill Rapavy, who was Access International's chief operating officer before founding his own firm in 2007, told the Associated Press.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Bernard Madoff 'fraud': L'Oreal heiress Liliane Bettencourt invested money
Liliane Bettencourt, one of the world's wealthiest women and heiress to the L'Oreal fortune, entrusted part of her $22.9bn (£15.5bn) fortune to Bernard Madoff through the fund manager found dead in New York yesterday, according to a report.

The 86-year old daughter of L'Oreal founder Eugene Schueller was the first investor in a fund managed by Access International Advisors, Bloomberg News reported.

The Fondation Bettencourt Schuelle, a foundation founded by Liliane Bettencourt, declined to comment on the Bloomberg report.

The body of Access co-founder Thierry Magon de la Villehuchet was found dead in his New York office yesterday and police said he probably killed himself.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Multiculturalism absolutely depends on surplus wealth. We have a world where a hell of a lot of yecchy people have way too much time on their hands, and so much surplus wealth to deploy it makes them dangerous, so they take up various forms of madness such as "racial equality," and "multiculturalism." Multiculturalism is really nothing more than a rich man's sick hobby to torment ordinary White people using non-whites, with a sort of perverted Christianity as justification. Forced racial integration is a large scale perversion along the lines of sado-masochism, pedophilia, bestiality, snuff porn and the like.

I am personally an agnostic. I don't think about religion much, as I am too busy with practical, earthly activities. But as I have been following the list of evil people who have gone broke, courtesy of Madoff, including the ACLU, Spielberg, Katzenberg, Wiesel, the Robert Lappin Foundation (zionism and jewish hypocritical-racialism), and many, many more, it just seemed like the act of some higher power.

Have you ever noticed that right wing sites are funnier than leftist sites? That's because comedy comes from unhappiness, and for us, I believe, the source of our unhappiness is that we see the divine spark of racial evolution being snuffed out with every mudshark/mulatto, every invasion into White homelands, every murder of a perfectly good White person by a mud that should never have been there.

That which drives the people on this board is in fact something very deep. I don't want to call it "divine," but it's something that is about more than just eat/drink/sleep/****. Perhaps "racial instinct." Whatever it is, it's right. And it's going to win in the long run. That's what the Madoff thing means to me.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Excellent summation.


The push to shove is coming in the form of demanding more Tax monies to cover the money loss to these supreme people who have been Persecuted over all other peoples in human history, and you are punished if you question any aspect of their story too, so it may be interesting.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Jeronimus,

Great post, we can but hope this will do them some damage.

Oh absolutely. Financial crashes snowball exponentially. The only reason Madoff was exposed was because there's a financial contraction in the works and Madoff's investors put in withdrawal orders to the tune of 7 billion. Thus Madoff was forced to admit he didn't have the 7 billion, much less 50 billion. Otherwise, the Madoff thing could have gone on indefinitely.

Most of the evils we discuss on this board, such as forced "equality," the dumbing down of our children, the absence of White men role models, the niggers with the easy credit and the affirmative action jobs that falsely puff up their true earning power, all this is made possible by an unhealthily high rate of economic growth. I have made this argument for years, and said that a lot of our problem will be solved when the economy contracts.

Here's an image for you; the white men are sitting in offices to make maximum cash, because that's what they have to do to do the right thing for their family. Meanwhile, the White men's children are out on the "integrated" streets of the local town or city; the kids are being indoctrinated in the school, and on the televisions and movies. The White man spends his days in offices, and commuting. He barely sees his kids. Same for his wife, if they are even still married. Any surprise the kids are messed up? We know the consequences. Give me an economic crash. Let mom and dad stay home. Let dad become the respected pillar of his household, and his neighborhood. Let local confederations of White families spring up, led by strong fathers keeping the neighborhoods White, and the kids on the right track.

Harvard Professor Benjamin Friedman wants to keep the White men slaving away for jewish bosses in the offices, while the white girls are getting knocked up by suhuman scum:
http://www.nytimes.com/2005/11/27/books/review/27easterbrook.html

Friedman argues that economic growth is essential to "greater opportunity, tolerance of diversity, social mobility, commitment to fairness and dedication to democracy." During times of expansion, he writes, nations tend to liberalize - increasing rights, reducing restrictions, expanding benefits for the needy. During times of stagnation, they veer toward authoritarianism. Economic growth not only raises living standards and makes liberal social policies possible, it causes people to be optimistic about the future, which improves human happiness. "It is simply not true that moral considerations argue wholly against economic growth," Friedman contends. Instead, moral considerations argue that large-scale growth must continue at least for several generations, both in the West and the developing world.

Friedman and I want polar opposite outcomes, but we believe essentially the same thing. Economic contraction will absolutely be good for the White race. And there will be hell to pay for those who have been busy dispossessing and murdering our Folk.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

I remember reading in Bob Schieffer's exposé of the TV news-jews, This Just In: What I Couldn’t Tell You on TV, how it isn't an accident that the MSM evening news comes on BEFORE working men arrive home from work.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

The degenerates are running the asylum and corrupting the children, while the parents have to run the rat race hamster wheel in order to "keep up appearances."

What we need to realize is that re-starting civilization is on our shoulders. We need to become super high achieving Renaissance men, or at least strive towards this. There is a power vacuum coming, and if we are up to the task, we can seize back the world for the White race. But for us, reading this board, think:

atlas2.jpg


That's what White nationalists need to be. It's our job to raise the next generation of White children into success and functionality, rather than degeneracy and squalor. The West is being degenerated back into primitive savagery. You know who is maintaining a semblance of Western civilization? The chinks! The gooks! The slant eyed yellow peril!

I'm a middle class guy. I don't have any credit card debt, just the usual car payments and mortgage. I got my finances under control because my wife and I are cautioius and conservative in running our household. However, I'm very well educated and I get around in the world. I am fluent in a foreign language, I play in a classical ensemble and I get to see the very wealthy up close. I hear them talk, and I see their faces. What I'm seeing is that the Asians are replacing the Whites because the Whites are becoming lax and lazy. They just wanna have fun, get some tattoos, experiment with their sexuality, slack off, hang with their multi-racial "friends." So Asians are taking their place.

I want to see White nationalists become a highly educated crypto-elite. We just have to work hard, study hard, and get ourselves in the right places, and work together. The Asians won't oppose us. I know them. They aren't terribly enthused about Marxism or niggers, and they only go along with Jews because Jews can help them. They are purely self interested. Play along with the Asians to get in your position of power, and from there we clean out the niggers and we create an anti-jew layer of power that works behind the scenes.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

That's what White nationalists need to be. It's our job to raise the next generation of White children into success and functionality, rather than degeneracy and squalor. The West is being degenerated back into primitive savagery. You know who is maintaining a semblance of Western civilization? The chinks! The gooks! The slant eyed yellow peril!

What I'm seeing is that the Asians are replacing the Whites because the Whites are becoming lax and lazy. They just wanna have fun, get some tattoos, experiment with their sexuality, slack off, hang with their multi-racial "friends." So Asians are taking their place.

I want to see White nationalists become a highly educated crypto-elite. We just have to work hard, study hard, and get ourselves in the right places, and work together. Play along with the Asians to get in your position of power, and from there we clean out the niggers and we create an anti-jew layer of power that works behind the scenes.

Excellent perspective, and a stark reality of white America today. You aptly depicted 70% of all whites, particularly the under 40 demographic.Unfortunately, the relentless bombardment of radical, liberal, anti-white propaganda from academia will further exacerbate self-loathing and unabated debauchery found in most young white kids.

You're 100% right, but how will this essential transformation take place on a broadscale? I'm afraid that most white folks outside the white nationalist movement will continue on this path to destruction.I hope I'm wrong! The white liberal / Jew remains the greatest enemy.


Thank you Jews... for destroying western civilization and the modern civilized world -- all in the name of political correctness.

Fuc*ing Jews, I hope Iran's dreams are fulfilled.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

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*


http://www.whitecivilrights.com/?p=1539#more-1539


WhiteCivilRights.com

Liberal Media Losing its Audience
(summary)

January 6, 2009

by Jeff Davis

Gee, what with the Depression and all, some career liberal media hacks are apparently going to have to start cutting back on their long luxurious ride on what-they-thought was an endless liberal gravy train.

The New York Times reports: “For decades the New York publishing world promised a romantic life of fancy lunches, sparkling parties, sophisticated banter and trips to spots like the Caribbean to pitch books to sales representatives… But that cushy schmooze fest seems to be winding down. Just two weeks before announcing staff cuts and a substantial
corporate restructuring in December, the publishing giant Macmillan gathered its sales and marketing staff…”

Wow. What a bummer it must be for them losing their media monopoly. Not only are they facing a bad economy, they have to compete with all us Internet riff-raff who tell the truth and who are slowly but surely stealing people away from them. What a cold cruel world! These people will have to get real jobs or maybe start reporting things without the usual loathsome liberal bias.

The article notes “Amid a relentless string of layoffs and pay-freeze announcements, book publishers are clamping down on some of the business’s most glittery and cozy traditions. Austerity measures are rippling throughout the industry as it confronts the worst retailing landscape in memory…”

What we need to understand is that while the First Great Depression in the 1930s devastated farmers and the middle class, the Second Great Depression is dragging the really big fish out of the water. The supe
r-rich tech yuppies and trust fund babies of today don’t seem to be as canny about money as their grandfathers and great-grandfathers were back in 1929. Maybe keeping your money in a mattress isn’t such a bad idea. Anyone who moved his money into gold back when it was below $400 an ounce is sitting pretty right about now. A lot of the really wealthy got wiped out by Bernie Madoff’s Ponzi scheme or the collapse of Lehman brothers. And the carnage is only just beginning.

Inevitably, a reduction in the massive amounts of cash available to this industry means a reduction in power and influence, since power and influence is based on money, as is all power in this society.

The most censored news story in recent years by the mainstream media is the Obama citizenship scandal. A recent WorldNetDaily article notes “America Online is conducting a new poll asking readers whether they believe there is any merit to the controversy surrounding Barack Obama’s citizenship – and most respondents say ?
??yes.’ There are more than 90,000 national votes in the unscientific survey. A full 52 percent of nationwide respondents believe people should be concerned about Obama’s citizenship…”

All these people doubt that Obama qualifies as a natural born US citizen are NOT listening to the liberal media. They have probably stopped buying their rags long ago. They are going to websites where their intelligence isn’t insulted by liberal propaganda designed for people who can’t think for themselves.

Skara Brae,

madkins

*Google Images
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

SEC exposes 4 more judenschwein

SEC charges 4 with helping Madoff

NEW YORK (CNNMoney.com) -- The Securities and Exchange Commission on Monday charged a brokerage firm and several individuals with raising money from investors to feed Bernard Madoff's Ponzi scheme.

The SEC brought a civil enforcement action against Cohmad Securities Corp., its chairman Maurice Cohn
, chief operating officer Marcia Cohn
and registered representative Robert Jaffe
with securities fraud. The SEC filed the case in U.S. District Court in Manhattan.

r
The Cohns and Jaffe are accused of courting investors for Madoff's massive scheme, which used fresh investments from unsuspecting investors to make payments to more mature investors and creating the false appearance of legitimate returns.

Separately, the SEC charged California-based investment adviser Stanley Chais
with securities fraud. Chais is accused of operating feeder funds that poured money into Madoff's Ponzi scheme.

The defendants helped Madoff "cultivate an air of exclusivity by pretending that he was too successful to trouble himself with marketing to new investors," while providing "a constant in-flow of funds to sustain his fraud," said Robert Khuzami, director of the SEC's enforcement division, in a prepared statement.

Both SEC complaints seek injunctions, financial penalties and court orders requiring the defendants to turn over ill-gotten gains.

Over two decades, the Cohns and Jaffe raised billi
ons of dollars from hundreds of investors for Madoff and were paid $100 million for their troubles, according to the SEC. The SEC accuses the defendants of being fully aware that Madoff was operating a Ponzi scheme.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

The fact that they bilked their own tribe, and killed the Lapin foundation and the Wiesel foundation, among others, is a very good sign.

Among the Jew-Watchers there are two camps:

1. The "all powerful Jews" camp, where everything, including the Madoff swindle, are "all part of the Jewish plan." This is a very pessimistic view, usually held by good, salt of the earth White nationalists from the Midwest and the South, who have not had much contact with the Jewish colonies of America.

2. The "Jews over-reach and self destruct and cause unintended consequences for themselves" camp, which is generally held by White nationalists who grew up with Jews, went to school with Jews, have observed multiple generations of Jewish families, and possibly even observed cases of Jewish liberal policies destroying Jewish neighborhoo
ds and forcing Jews to do "white flight" or getting attacked by the Negroes they support.

I am in the second camp. I have known plenty of Jews, and debated with them (when they let me debate and didn't just shout me down).

It's really something, I got to tell you. Aryans have very different brains from Jews. I'm not saying this to be discriminatory or cruel. It's a deadly serious observation about a group of people who have brought us much harm and misery, but have done so mostly thinking they were doing the right thing.

In resisting Jewish power, we have to put on our thinking caps. We have to be as clever as they are. We cannot treat this like a Hollywood movie, where the problem is resolved with a car chase, a gun fight, another car chase, another gun fight, then the credits roll. It's not like that at all.

We have to value education and achievement as much as the Asians do, while quietly and secretly keeping our White nationalist view and social ties. We have to qu
ietly subvert and undermine liberalism while making ourselves wealthy and building Diaspora White communities similar to the Amish, the gypsies, the Overseas Chinese, the Greek restaurateurs, the Iranian business owners, the Pakistani convenient store owners.

Jews are very cerebral, of course, very smart, very intellectual. But it seems they wilfully blind themselves from the consequences of the policies they advocate and get implemented. They are so entranced by their vision of social justice that they can't take their eyes from it, and gladly walk off a cliff, like the Tarot Fool card:

paar00.jpg


As the moon waxes and wanes, the powers against us wax and wane, and our powers wax and wane. We are entering a period where it is we who will gain some strength, and our enemies will lose strength. We must take advantage of this time, and not allow it to slip away.

I hope you are working with people in your area, starting your ow
n businesses, taking advantage of the economic instability. I hope you are doing more than posting on this message board and being pissed off.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

How to Identify a Jew

http://www.newnation.co/

forums/attachment.php?attachmentid=580&stc=1&d=1246371534

The Jewish nose is bent. It looks like the number six.

Bernard-Madoff-001.jpg


Bernie "The KÃԚ¬ke" Madoff
 

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Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Madoff Hires Consultant to Find Best Possible Jail

Bernard Madoff has hired a veteran prison consultant to help him to find the best possible jail in which to serve his 150-year sentence for Wall Street’s biggest fraud.

After his sentencing this week Madoff, now Prisoner No 1727-054, met Herb Hoelter, of the National Center for Institutions and Alternatives, whose previous clients include the jailed Sotheby’s chairman Alfred Taubman and the financiers Michael Milken and Ivan Boesky.

The draconian maximum sentence imposed by the judge means that Madoff, 71, will be assigned to a tougher category of prison than most white-collar criminals.

He could be forced to mingle with murderers, rapists, drug-dealers and white supremacist gangs with a hatred of Jews. Madoff is Jewish.

He could even find himself inc
arcerated with terrorists in the infamous “Supermax”� jail in Florence, Colorado.

“He was incredibly disappointed. He knew he was going to spend the rest of his life in prison. I don’t think that was ever an issue,”� Hoelter told The Times. “But it’s patently unfair to cast him as a symbol of all evil.”�

http://www.foxnews.com/story/0,2933,530007,00.html
 
http://cbs3.com/topstories/Jeffry.Picower.dead.2.1270552.html

Madoff Associate Found Dead In Fla. Pool
Attorneys: Death Of Disgraced Financier's Client Complicates Recovering Money

PALM BEACH, Fla. (AP) ― The death of Jeffry Picower, accused of profiting more than $7 billion from the investment schemes of his longtime friend Bernard Madoff, will make it more difficult for suing investors to recoup their money, attorneys said.

Picower's wife, Barbara, on Sunday discovered the 67-year-old's body at the bottom of the pool at their oceanside mansion and pulled him from the water with help from a housekeeper, authorities said. He was pronounced dead at Good Samaritan Medical Center at about 1:30 p.m. Palm Beach police are investigating the death as a drowning, but have not ruled out anything on the cause of death.

Picower had been accused by jilted investors of being the biggest beneficiary of Madoff's schemes. In a lawsuit to recover Madoff's assets, trustee Irving Picard demanded Picower return more than $7 billion in bogus profits. In an e-mailed statement Sunday, Picard said only that "litigation will continue."

Jerry Reisman, an attorney representing about 26 victims, said Picower's death does make it more difficult for the trustee to recoup some of the money.

"We won't be able to hear from his own words whether he was complicit," Reisman said.

Picower suffered from Parkinson's disease and had "heart-related issues," said family attorney William D. Zabel. He described Picower's health as "poor."

Picower's body showed no visible injuries, said Joseph Sekula, spokesman for the Palm Beach Fire Department. He said it did appear he was swimming because he was wearing trunks.

The home and property is worth more than $33 million, according to the county property appraiser's records.

Picower and his wife started the Picower Foundation in 1989, which has given millions to the Massachusetts Institute of Technology, Human Rights First and the New York Public Library. It also funded diabetes research at Harvard Medical School.

The foundation, whose assets were managed by Madoff, said in its 2007 tax return its investment portfolio was valued at nearly $1 billion.

After the Madoff scandal broke in December, the Picower foundation said it would have to cease grant-making and would be forced to close.

But the trustee's lawyer said Picower's claims that he was a victim "ring hollow" because he withdrew more of other investors' money than anyone else during three decades and should have noticed signs of fraud.

According to the lawyers, Picower's accounts were "riddled with blatant and obvious fraud," and he should have recognized that because he was a sophisticated investor.

Picower had asked that the lawsuit be dismissed, saying it was unsupported by the facts.

Madoff is serving a 150-year prison sentence after he admitted losing billions of dollars for thousands of clients over a half-century career that saw him rise to be a Nasdaq chairman. Madoff's attorney, Ira Sorkin, did not respond to a request for comment.

Jonathan Landers, an attorney representing a large group of victims, said in an e-mail that it was impossible to tell what effect Picower's death would have on efforts to recover funds lost in Madoff's massive Ponzi scheme.

"While there are allegations regarding his knowledge of the Madoff fraud and his possible liability to investors, none have been proven," he wrote. Landers added that even if such facts could be proved, Picower's "death could make it easier or more difficult to obtain and collect on claims."

"It may cause those who have control of his assets to fight harder because there is no longer any personal dignity or desire to settle and move on," he wrote.
 
Hackcidents happen all the time.

He shouda been wearin' those swim floats since he was such a poor swimmer for all those years.

Justa coincidence, I'm sure...
 
Madoff suffers broken face, ribs in NC prison
Posted: Dec 24, 2009 4:41 PM
Updated: Dec 24, 2009 4:41 PM


11728125_BG1.jpg

Bernard Madoff (Source: US Dept. of Justice)

BUTNER, NC (WBTV/AP) - Bernard Madoff, who confessed his private-investment business was a fraud that took billions, has been seriously hurt in an NC prison, a Durham TV station reported.

Madoff has been moved from the federal prison to a prison medical facility. Federal Bureau of Prisons spokeswoman Traci Billingsley said Wednesday that Madoff was moved Friday.

She says the bureau won't publicly discuss the reasons for an inmate's transfer, but WTVD reported that he suffered from facial fractures, broken ribs and a collapsed lung.

Madoff has been imprisoned since March. That's when he pleaded guilty to fraud charges and admitted cheating thousands of investors out of billions of dollars.

The 71-year-old was arrested a year ago and is being treated at the Federal Medical Center, part of the Butner Federal Correctional Complex in Butner, N.C.

Madoff was sentenced by a judge to 150 years in prison earlier this year.

http://www.wbtv.com/Global/story.asp?S=11728125
 
http://www.ft.com/cms/s/0/bd20e1e6-048c-11e0-a99c-00144feabdc0.html#axzz17oYpQUvb

Madoff trustee launches $19.6 bn lawsuit
By Brooke Masters in London and Rachel Sanderson in Milan

Published: December 10 2010 18:45 | Last updated: December 10 2010 20:31

The US trustee representing *the victims of Bernard Madoff, has filed a $19.6 bn lawsuit accusing almost 60 people and institutions, including some of Italy and Austria’s largest banks, of participating in a decades-long “illegal scheme”.

The suit, the largest and most serious civil claim filed in the case, targets Bank Medici, the failed Austrian bank, Sonja Kohn, its former president, and Bank Austria and UniCredit, its partial owners, for allegedly participating in a “conspiracy” that sent money to Madoff.

Ms Kohn is accused of heading a scheme that funnelled $9.1bn in investment funds to Madoff, who pleaded guilty to running one of the biggest frauds in history, according to the suit filed by Irving Picard.

Mr Picard is seeking the return of investors’ funds and bank fees, plus damages.

In the past two weeks, Mr Picard has sued more than a dozen banks, including HSBC, Citigroup, JPMorgan, UBS and Natixis, seeking money for Madoff’s investors. Most say they plan to fight the claims but Union Bancaire Privée has agreed to pay up to $500m to settle the allegations.

The 154-page complaint against what Mr Picard called the “Medici enterprise” marks the first time he has filed a civil “racketeering” suit, a particularly serious civil claim allowing him to seek triple damages.

The suit, which includes claims of unjust enrichment and conversion of stolen money, was filed on Friday in US bankruptcy court against Ms Kohn, six family members, the three banks and some of their staff.

Alessandro Profumo, UniCredit’s former chief executive, and two of its directors are named as defendants.

“Sonja Kohn went by many names and operated under many guises, creating an *international network of spurious investment entities and masterminding an illegal scheme not only to support the Madoff fraud but also to enrich herself, her family, and the *largest banks in Austria and Italy,” said Timothy S Pfeifer, Mr Picard’s attorney.

A lawyer for the former Bank Medici said the bank, Ms Kohn and other members of its management would fight the “completely wrong allegations”.

In the past, Ms Kohn has denied any involvement in Madoff’s fraud.

UniCredit said: “We intend to defend ourselves vigorously.” The public relations firm representing Mr Profumo, declined to comment and he was not contactable by phone.

At its heart, the lawsuit alleges Ms Kohn had a secret agreement dating back to 1987 with Mr Madoff to faciliate the scheme, and that he destroyed many of the records of it shortly before confessing in December 2008. He is serving a 150-year prison sentence.

None of the defendants in the trustee’s lawsuit has been criminally charged.

Mr Picard further alleges that the funds Ms Kohn oversaw made $536m in withdrawals in the two months before the Ponzi scheme collapsed and that she “directed” her husband to pull all their money out of Bank Medici days before Mr Madoff went to authorities.

According to the lawsuit, Ms Kohn was paid $62m in kickbacks from a special fund at Mr Madoff’s New York brokerage for recruiting investors. She also raked in millions of dollars through her stakes in Bank Medici and other companies set up to market and manage Madoff feeder funds.

The trustee contends that Bank Medici, essentially operated as a branch of Bank Austria, which owned the 25 per cent stake not controlled by Ms Kohn. Feeder funds associated with Bank Medici sent about $4bn to Mr Madoff, the lawsuit said.

The lawsuit alleges that Mr Profumo and Ms Kohn “had a close working relationship” that predated UniCredit’s 2005 purchase of Bank Austria. Ms Kohn also allegedly bragged that she had facilitated the acquisition. UniCredit’s Pioneer investment arm had been investing in a separate Madoff feeder fund since 2000.

UniCredit then moved to “obfuscate” its relationship with Mr Madoff by having the Bank Austria Primeo hedge fund sell its direct investment and move the money into other hedge funds that also invested with Mr Madoff, the complaint said.
 
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