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Friday, March 13, 2009
News / Biz Charlotte's own Bernie Madoffs
Posted By Contributing Intern on Fri, Mar 13, 2009 at 9:17 AM
What scum. What an utter human failure. Unfortunately, Bruce Kramer isn't alone. Mooresville's Dean Martin, 71, (allegedly) made off with $10 million and J.V. Huffman Jr. of Claremont (allegedly) ganked $25 million.
While we wait for these people's day in court, we can practice picking on Madoff. I'm looking forward to sending him a prison-warming gift: a bar of soap. Won't you join me?
A Cabarrus County man swindled $30 million from investors and spent it on lavish cars, expensive artwork and a 45-acre horse farm, former investors charge in a pair of lawsuits filed in Mecklenburg court recently.The scheme involved 60 investors and spanned four years, ending after the man, Bruce Kramer, committed suicide, prompting investors to check the status of their money, court documents say.
“It's a sad time for a lot of families,” said John Manzella of Charlotte, an investor named in one of the suits. “This has hurt a lot of people, financially as well as emotionally.”
No charges have been filed in the case, though sources familiar with the situation say the U.S. Commodity Futures Trading Commission is investigating. A spokesman for the commission declined to confirm or deny the investigation Thursday.
Read the rest of this Charlotte Observer article here.
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