Today, New Year’s Eve, is the deadline imposed by Judge Louis Stanton for Bernard Madoff to produce to the SEC a complete written account of all his assets held for his “direct or indirect benefit,” with descriptions of “the source, amount, disposition and current location of each.” Although Madoff’s own lawyers have publicly stated that Madoff intends to file the information today and comply with the court’s order, other attorneys are not so sure.
Charles Clark, a former SEC enforcement official, told the Financial Times that “[i]n spite of the order, no one can force Madoff to make an affirmative representation. I would be surprised if he responded with anything other than an assertion of his Fifth Amendment rights against self-incrimination.”
What do you think? Please vote below–we should know the answer by 2009!