Madoff scandal: tax haven Luxembourg behind it all
From the Treasure Islands blog:
This searing letter on to Luxembourg Finance Minister Luc Frieden, on behalf of 2,500 ripped-off Madoff investors kind of speaks for itself. Three years on, and:
"none of these institutions has been held accountable to date."
Note that the defrauded investors have fought battles in courtrooms around the world - but keep getting directed to Luxembourg. And in Luxembourg, the financial sector has closed ranks and continued to hide behind the classic offshore attitude, elegantly summed up by Jerome Turquey, a Luxembourg critic:
"Up yours! Let's make money!