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Bernie Madoff 'in hell' hot sauce launched

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A New York artist has come up with a novel way to scorn the disgraced Wall Street financier Bernard Madoff: a bottle of hot habenero sauce called 'Bernie in Hell'.
Photo: texasketchup.blogspot.com

 

Alex Gardega said he wanted to make a statement about Mr Madoff, who is accused of taking $50 billion (£33 billion) from investors in his fund.

Bottles of the sauce, available for sale at $10 each on Mr Gardega's website, bear a photograph of the financier with horns on his head and dollar signs for eyes.

Underneath is the slogan "You're Gonna" over some flames and the words "Bernie in Hell".

"This sauce is habenero based and very good and hellishly hot!" Mr Gardega wrote on his blog.

Despite his claims of culinary excellence, however, Mr Gardega said the bottles had been produced as a limited-edition artwork rather than as a condiment.

More text on the bottle reads, "You can take the money but can you take... the heat?!!!"

A string of high-profile names have emerged as victims of the alleged fraudster, including pioneer hedge fund manager Michael Steinhardt, Hollywood actor Kevin Bacon and Liliane Bettencourt, heiress to the L'Oreal fortune.

Mr Madoff, who spent Christmas under nightly house arrest after failing to find the four people needed to guarantee his $10m bail, was charged last month by federal prosecutors with directing an alleged Ponzi scheme through his New York investment firm.

His lawyer, Ira Sorkin, has said Mr Madoff's company is co-operating with the government.

 

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Masateru 18 October, 2012 09:13:54
This found on another Investor's Watchdog blog: SEC Halts Another Fraudulent Unregistered OfferingThe Securities and Exchange Commission (SEC) has crhaged Navigators International Management Co., Ltd. (Navigators), James R. Spurger and Benjamin W. Young, Jr. with securities fraud, conducting unregistered securities offerings, and acting as unregistered broker-dealers. Navigators is a Bahamian company run by Spurger and Young. Spurger lives in the Houston area, while Young is a U.S. citizen living in El Salvador.According to the SEC, the defendants raised over $1 million by telling investors that their money would be pooled and used to purchase a bond with which the defendants would secure a line of credit which would provide the promised return. The defendants told investors that their investment was collateralized and perfectly safe.The defendants did purchase a bond, but it turned out to be a counterfeit. Undeterred by that experience, the defendants offered stock in an unaffiliated, unregistered company through the Internet by misrepresenting the company’s current and future business contracts. When the SEC arrived on the scene, the defendants were engaged in yet another offering, this one involving what the defendants called ZCASH electronic tokens. The defendants promised investors an enormous return on their investment in the ZCASH tokens and rebates on customers’ use of ZCASH tokens when purchasing items on Navigators’ website.This case marks a trend in scams and underscores how important it is that baby boomers and seniors independently investigate brokers and unregistered investments. Notice that the defendants’ first effort involved buying a bond from people who turned out to be scam artists themselves. The bond was counterfeit. More often we are seeing scams that involve investment in an enterprise that plans to make money by investing in another scam. I am serving as Receiver in a case like that. The promoter promised enormous returns. To generate those enormous returns he invested in a Ponzi scheme. When that scheme went belly up, he invested in a second Ponzi scheme. When that one failed, he invested in yet another scam. If the SEC had not stepped in he would still be raising money by promising outrageous returns and looking for the next Ponzi scheme to generate the returns.When it comes to sizing up unregistered investments, investors need to investigate several layers deep.This entry was posted on Friday, December 28th, 2007 at 8:01 am and is filed under Estates, Investor Protection, Texas, Recently Divorced, Retirees, Investors at Risk, Baby Boomers, Senior Citizens, Scams. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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