Your Letter to Regulators & Legislature

Click on the links below to view letters written

Lax & Neville Letter to the SEC - May 2009

Velvel Letter to IRS Commissioner - May 2009

Markopolos Email to the SEC

Helen Chaitman Letter to SEC Commissioner

Chaitman’s response to the Irving Picard article

Helen Chatiman - No Thanks America

Letter to Congressman Ackerman from www.madoff.help.com

Letter to the House Committee on Financial Services from Bernard Madoff Victims Group

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11 comments to Your Letter to Regulators & Legislature

  • Dear Sir

    Con men like Madoff and frauds like the Madoff case will continue to be perpetrated until the law is changed so that the assets of all family members can be taken as compensation. After all Mr. Madoff is in Prison but his wife and children are still free to live lives of luxury and excess. Until the law limiting the liability of company and corporate directors is changed so that managers and directors can have all their assets and the assets of their wives and family taken as compensation then there will always be people who will act in a criminal or negligent manner because there is no incentive not to. Imagine how much more careful managers and company directors would be if they knew that their whole family would lose everything if they make a mistake. These people earn big money and yet are not accountable or responsible for their actions. If they earn the big money then they should be made to take the risk of losing everything they own and love if they get it wrong. Presently there are directors of financial institutions and car manufacturing companies in the USA who have bankrupted their companies and yet they ae still earning big salaries and big bonuses at the American tax payers expense simply because congressmen have money invested in these shares and are receiving bribes to support these firms under the excuse of protecting the economy and protecting American jobs.

  • Ralph Cohen

    Per the FIMRA website “FIMRA is the largest idependent regulatory for all securities firms doing business in the United States….Our chief role is to protect investors by maintaining the fairness of the U.S. capital markets.” The 2007 FIMRA Annual Reports shows net revenues of $724 million and total assets of $2,959 milliom. They are obviously irresponsible and guilty of neglecting their own mission, and they have contributed greatly to Madoff’s success in scamming investors. Can anyone explain why there are no legal actions against FIMRA?

  • What happened with the legislators to whom you wrote on February 27th? My husband and I are members of both googles’ survivors and victims groups. We, along with all of the others need immediate relief which doesn’t seem to be forthcoming. Can you please respond if anything is happening?
    Thank you very much,
    Stephie Halio

  • admin

    There are Support Groups that have organized, and they are very proactive in various campaigns to get legislation changed to address the numerous issues that victims are facing. These groups are typically ‘private’ in that you need to appy for membership — only victims can apply. Here are the links to some of their forums. These links are also accessible from http://www.madoff-help.com under the Support Groups section about mid-way down on the right.

    Madoff Survivors Group: Click here for link to sign up.
    Bernard Madoff Victims Group: Click here for link to sign up.

    There is also a Coalition for Indirect Investors, information about this group and how to contact them can be found on our site at: Coalition of Indirect Ponzi Victims.

  • kate

    There are so many devasting stories related to what this monster has done to destroy lives and families. Our story is the same. My husband and I who worked for the past 30 years, have lost our entire retirement IRA and savings. The SPIC dollars (when will they come???) while appreciated are will never replace the monies we had put away to retire and take care of our family is gone. I put my entire savings(POST tax) into Madoff to fund a Special Needs Trust to take care of my severely hanicapped daughter. She will need care her entire life The IRA’s are a total loss, yet the IRS will not even allow “theft loss” recuperation. Is there anyone out there that could help organize a campaign to assist in getting the IRS rules to make an exception to the IRA’s???? How do they expect us to live? Any help????

  • saundra friedman

    Thank you so much for this wonderful letter covering all you have. My husband and I have lost everything including our pension fund and struggling away here trying to figure out what to do first. we have people helping us but the whole situation is so murky that it is really almost impossible to know which way to turn. I would like to help you somehow so please let me know what I can do. we are changing our life style drastically and only hope we will have a decent place to live. The greatest insult added to this injury is that we have been friends with all the madoffs for over 40 years and are still stunned by this revelation and all that has taken place since then. I would be happy to help in any way I can. I am a psychoanalyst and perhaps my years of experience helping people can be of some use. Financially, I am totally dependent on accountants and lawyers to help us but I have discovered that they too are lost. Thanks. Saundra

  • Ron

    Thanks everyone. This is a massive group undertaking. I have tremendous respect and admiration for what all have you have done thus far. Let’s keep pressing forward and continue exchanging ideas.
    Ron

  • yale fishman

    Your letter covers many good points however if goal is to present comprehensive relief the charities, foundations and charitable trusts have no relief by tax deductions. They need reimbursement of account values to continue charitable work. I would hope any such proposal you make would include this perspective. All of us as madoff victims have been hurt by govt whitewashing madoff despite numerous complaints and evidenc SEC had. Instead of warning public they misled public with finding of no wrongdoing. To be effective in obtaining relief congress neeeds to understand govt responsibility in this matter.
    yale

  • Excellent letter. I am working with State Politicians in California who intent to hold hearings on this matter as it has devastating effects on our state similar to other states. It is critical that we find a way to galvanize as many victims as possible to support these efforts and demand accountability of the Federal Government due to the admitted failure of the SEC to properly oversee, audit, and regulate Madoff.

    I have written over 25 Congresspersons and Senators without a single response on the subject. We cannot allow ourselves to be ignored Please do not hesitate to contact me at the above email address. RBS

  • Ron, thank you for the comprehensive solutions you have presented in your letter to provide the broad range of recovery options needed by the many thousands of Madoff investors from all socio-economic walks of life who were led astray by government negligence and complicity.

    Your letter was posted on our website: madoffsurvivors@googlegroups.com and will reach over 300 people.

    With much appreciation,
    Sherry Morse

  • Ron,
    I am taking the liberty of sharing this well thought, factual and powerful letter to our group of over 125 Madoff investors at bernardmadoffvictims.org.

    We appreciate your efforts and I personally look forward to supporting them, and will suggest that to the entire group.

    Thank you,
    Ronnie Sue Ambrosino
    bernardmadoffvictims.org