Monday, March 1, 2010

Did You Hear About the Morgans? : Madoff's Daughter-in-Law to Change Last Name

Bernard Madoff is best known for his ponzi scheme. The scheme was in many ways quite impressive, but investors of all kinds have agreed that Madoff gives a new dimension to a Wall Street villain. His daughter-in-law, Stephanie Madoff, wants to change her last name as well as the last name of her infant daughter and son. Stephanie's husband, Mark Madoff, does not object to this name change. Additionally, Mark has not been charged with any crime.

Stephanie claims in court documents that she "wishes to avoid additional embarrassment, harassment, and endangerment associated with the name 'Madoff.'" Fair enough, but here is where is gets weird. She wants to change her last name and children's last name to Morgan, but the documents don't specify why "Morgan." Her children will also retain Madoff as a middle name...after all, it is a family name.

On March 12, 2009, investors can celebrate the one-year anniversary of Madoff's imprisonment. He pleaded guilty to 11 federal counts. Bernie was sentenced was sentenced to 150 years in prison. He is currently being held in Butner Federal Correction Complex in North Carolina. Bernie's former accountant, David Friehling, may soon join him. Talk about a party.

November 14, 2139 is Madoff's release date. Maybe his grandchildren will pass on his name, and their future nosy neighbors will whisper to each other, "did you hear about the Morgans?"

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