Quote Originally Posted by MCALenders View Post
He might still be there but let me tell you what I do know for a fact. He has about 20 angry investors holding promisory notes worth about $7.6 million. On average investors got 20% of their principal. He bounced numerous checks. Hired a lawyer to negotiate a payback. Did not pay bulk of investors for 90 days. Then missed the payment date and asked for a month extension. Has not been answering calls and emails from investors.
This is how the Madoff scheme started to fall apart...