Archive for December 27th, 2010

Monday Media Blogging

Antikythera Mechanism + Legos = Awesome!

The Mechanism has always fascinated me.

(h/t Engadget)

December 27th, 2010 at 11:40am Posted by Eli

Entry Filed under: Monday Media Blogging

Corrupt Wanker Of The Day

If we had a functioning DOJ, this guy would totally be going to prison:

An arm of the United States Marshals Service undervalued what could amount to untold millions of dollars in assets forfeited by white-collar criminals — including some from the family of Bernard L. Madoff — and sold them for far less than they were worth, according to a lawsuit filed in federal court in Manhattan.

As a result, the lawsuit suggests, crime victims, including some who lost fortunes in the Madoff case, may have been deprived of millions of dollars in restitution.

The complaint filed in the case contains a range of accusations about the actions of Leonard Briskman, the leader of the marshals unit. It says that assets were sold without public notice or competitive bidding, and that Mr. Briskman assessed the value of certain assets, found buyers through his “business contacts,” and kept a secret bank account to which government auditors had no access.

(…)

While the lawsuit does not detail the potential losses to the Asset Forfeiture Program and, by extension, to crime victims, it cites Mr. Briskman’s handling in early March of a minority interest in the Delta Fund, which had been held by Ruth Madoff. The fund came under the purview of the complex assets group.

“During the sale, it became evident that the sale price did not have a corresponding valuation by an independent qualified professional, and that it was patently discounted sharply below fair market value,” the lawsuit alleged. “Upon discussion, it also became clear that Briskman had not sought multiple prospective buyers in the open market for this asset.”

Later in March, when Mr. Aryai reported his findings to his superiors at Forfeiture Support Associates and in the Marshals Service, he was transferred so that he reported directly to Mr. Briskman, according to the lawsuit. When Mr. Aryai tried to add his new supervisor to his professional networking profile on the Web site LinkedIn, he found that Mr. Briskman did not list himself as an employee of the Marshals Service, but as the chief executive of Asset Valuation Advisors.

When Mr. Aryai sought to look into Mr. Briskman’s company, he found that it “held itself out as a business with experience in the disposition of distressed assets, with examples that shockingly appeared to be U.S.M.S. forfeiture matters,” the complaint said.

So Briskman was riping off crime victims by selling confiscated assets to his business clients.  Awesome.  I’m betting Briskman and probably Morales lose their jobs, but get off with a slap on the wrist… while the DOJ tries to figure out how to put Julius Assange away for life.

1 comment December 27th, 2010 at 08:38am Posted by Eli

Entry Filed under: Corruption/Cronyism,Economy,Wankers


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