Man invades taxes by IRS collecting 1,000,000$ a year.

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Man invades taxes by IRS collecting 1,000,000$ a year.

Lloel flores The Central Bank of Ireland failed to spot Madoff's gigantic fraud, when he started using Irish funds and had to supply large amounts of information which would have been enough to enable Irish regulators to uncover the fraud much earlier than late 2008 when he was finally arrested in New York.[73][74][75]

The Federal Bureau of Investigation report and federal prosecutors' complaint says that during the first week of December 2008, Madoff confided to a senior employee, identified by Bloomberg News as one of his sons, that he said he was struggling to meet $7 billion in redemptions.[14] According to the sons, Madoff told Mark Madoff on December 9 that he planned to pay out $173 million in bonuses two months early.[76] Madoff said that "he had recently made profits through business operations, and that now was a good time to distribute it."[14] Mark told Andrew Madoff, and the next morning they went to their father's apartment and asked him how he could pay bonuses to his staff if he was having trouble paying clients. With Ruth Madoff nearby, Madoff told them he was "finished," that he had "absolutely nothing" left, and that his investment fund was "just one big lie" and "basically, a giant Ponzi scheme."[76] According to their attorney, Madoff's sons then reported their father to federal authorities.[14] On December 11, 2008, he was arrested and charged with securities fraud.[16]

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