Thursday, December 15, 2011

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!


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