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The United States stanford fraud charged in connection with the history of the largest financial fraud suspects appear in court on the 12th Astoria pleaded guilty, he could face up to 150 years in prison stanford financial fraud .

Earlier in the day, wheat-Astoria in New York in Manhattan Federal District Court admit the prosecution of 11 criminal charges, stanford financial these charges include securities fraud, money laundering, perjury, etc.. Court has yet to make a ruling.

Prior to the U.S. Department of Justice said that the judiciary can not reach any wheat-Astoria plea agreement, based on the wheat-Astoria 11 criminal charges, his maximum possible sentence of 150 years in prison.

Wheat-Astoria 70-year-old, a former United States Chairman of the Board, Nasdaq Stock Market. December 11 last year, he was arrested on suspicion of financial fraud, after paying 10 million U.S. dollars in bail money after his return home in Manhattan, a 24-hour electronic surveillance by police.

Adolf wheat fraud involving an amount of up to 50 billion U.S. dollars, for the history of the United States the largest financial fraud cases. As of November 30 last year, wheat-Astoria companies account for a total of 4800 investors. Deceived investors, including hedge funds, charitable organizations, as well as Jews all over the world investors.
The United States a huge financial fraud suspect’s lawyer Astoria on the 10th, said to be wheat-Astoria on the 12th hearing of all 11 charges of alleged admissions of guilt. He may face up to 150 years in prison.

This newspaper reported that General Adolf manufactured wheat simply financial fraud at the beginning of December last year exposed the FBI he was under house arrest at his home in Manhattan mansion of 7,000,000 U.S. dollars. March 10, wheat-Astoria in New York to appear.

Appear in court wearing a bullet-proof vests

Trial the same day, 70-year-old wearing a gray wheat-Astoria suite, played a black tie. For security reasons, wheat-Astoria also wearing a bulletproof vest.

Police in order to avoid emotional investors have a close encounter with wheat Adolf opportunity specially arranged Adolf wheat arrived in the court three hours in advance. After beginning the trial, wheat-Astoria lawyer sat quietly behind him, almost did not speak.

Several investors have hired a lawyer to attend the trial process, but hearing the audience hall was mainly journalists.

Issued the same day the court documents show that wheat-Astoria faces securities fraud, mail fraud, telecommunications fraud, money laundering, falsification of financial statements, perjury and other criminal charges against 11. Responsible for hearing the case to federal district judge in court on asked whether the wheat-Astoria on the 12th at the official to plead guilty, a lawyer, one of Adolf wheat Kim replied: “I think it is worth looking forward to.”

The judge asked whether the wheat-Astoria all pleaded guilty to 11 charges, Sok Kim said: “yes.” Prosecutors told the judge, according to federal sentence guidelines, the maximum penalty will be wheat-Astoria 150-year sentence. judge said, however, the court on the 12th will not be pronounced wheat-Astoria.

10 on the day, the court provided the data showed that as at November 2008, Adolf wheat development has reached more than 4800 clients, involving a total reached 64.8 billion U.S. dollars.

Prosecutors suspect his family affair

The Wall Street even though the history of information “the greatest fraud suspects” of the people, it is wheat-Astoria’s two sons, but prosecutors suspect that the family of Adolf wheat also been involved in this amazing amount of fraud, they even suspect wheat are interested in Astoria arrangements for his son to report their own and get rid of their families suspected.

So far, the wheat-Astoria family no one has been accused of misconduct. After the incident, stated categorically that the whole wheat-Astoria are one people for him, his family is unanimous. But prosecutors said will continue to investigate the case.

“Mak-Astoria financial fraud case” suspects Astoria client asset liquidation that wheat-Astoria on the 4th when he appeared in court agreed to give up the name of portfolio investment assets such as ownership of enterprises.

The United States Federal District Court scheduled a 4 day on the case of wheat-Astoria to hold a hearing. Owen Pickard client asset liquidation that wheat Astoria announced intention to give up on the name Adolf Bernard L wheat investment securities companies and investment in this enterprise by the works of art, performances, such as ticketing project ownership of the assets.

Picard did not specify the above-mentioned works of art, such as the market value of investment projects and other specific circumstances.

Preliminary estimate of the investigating officers, Mr Adolf case involves around 50 billion U.S. dollars of funds, affecting many countries a large number of individual and institutional investors.

Adolf wheat liquidation of assets designed to offset some of his victims for loss of assets. Responsible for wheat-Astoria aid victims of the Securities Investor Protection Corporation, president of Stephen Day 3 Habich told the Associated Press reporter, who a few days ago to around 10 victims assistance payments to confirm eligibility documents, expected the first batch of relief subsection 4 months ago, the hands can reach the victims.

Manhattan in New York on the 2nd of a court in a legal document made public showed that wheat-Astoria and his lawyer said the wheat value of 7,000,000 U.S. dollars Adolf Manhattan mansion and other assets of 62 million U.S. dollars is an all-Astoria wife Rose, and fraud the case has nothing to do, which requested the court to order this part of the assets unfrozen.

The admissibility of the case of the 100 victims of Claim business lawyer said Ruth Adolf treatment for wheat accounts for many years, the Department do not escape. Wheat-Astoria about his wife did not benefit from the fraud claim “is not only unjustifiable, but also offensive to the” victims. Stir the nation and indeed around the world wheat-Astoria since the fraud came to light, many celebrities, wealthy businessmen are found in the the ” Old Thousand “trap. However, as time goes by, the victims of the list show up more ordinary people, most of them into the middle-aged and old, doing all his life, the investment company Mak-Astoria. Have people do not even know whether it is wheat-Astoria why not sacred, but they are aware, they have the financial advisor to help them put the money into the pockets of the wheat-Astoria.

Compared with other victims, they are faced with more misfortune and despair.

Retired workers change job seekers

Then one end phones, the world came tumbling collapsed, telephone are the voice of her ex-husband, she recalled: “He said ‘give me you brought a bad message, Bernie Adolf wheat today arrested. ‘ ”

This is the message quickly spread to, in addition to 55-year-old Ronnie, all over the world have had thousands of wheat-Astoria full confidence of the investors are stupid. Ronnie and the former Dominica lost 1.7 million U.S. dollars, it is their life savings. Ronnie has been to invest in wheat near-Astoria for 30 years. But she and her 48-year-old who had been involved in proofreading job Dominica’s ex-husband, in an instant comfort from the wealth of the retired worker into a desperate job-seekers. They worry that the meager pension Dominica enough to cover daily expenses.

“What do we eat? Electricity bills to pay see how to do?” Ronnie has looked at a loss.

Rely on social insurance to make ends meet

The United States Securities and Exchange Commission for these unfortunate investors to seek emergency relief funds. Rumsfeld on such people, that they are only a bouquet of sunshine. Her late father at the last century, the early 90s began to invest in a wheat-Astoria, to both her and her brother of this generation, This is a “huge amount” of assets. However, all of Ukraine in order to have, Greenfield has been 71 years old, had just retired to live in Florida, the Beach, she now can only rely on social security of the barely living.

Greenfield now has to re-enter the workforce, I hope that she’s loving - weaving small beads strap, you can earn more money.

“I have suffered the loss of those charitable organizations is deeply saddened, but also for the sad fate of my home,” Greenfield said, “how he could deceive so many kind of people?” And many investors, she is considering legal action .

Parabolic sell stock

Occasionally, someone will wonder: How can earn a good investment is not lost then? However, these concerns have been a steady flow of funds returns completely dispelled - like playing a winning gambling machines, then the sound of coins falling drowned all other sounds.

“I have a feeling: ‘Why should not other people earn, as he did not lose it?’” They do not finance Robert Chu also there in the wheat-Astoria for the money. December 11, Chu a financial management give him the phone call, he said: “Mitchell, I am sorry to tell you, we are finished.”

55-year-old Chu and his wife has lost 1.2 million U.S. dollars, and his mother-in-law has lost 300,000 U.S. dollars.

More and more because of the stock downturn, Chu they have made an adjustment. Chu resort to sell his stock, put his 84-year-old mother sold the house, put his mother-in-law from an assisted living apartment Medicaid has moved to a nursing agency.

Grandson tuition bath

Joyce Greenberg’s father in 1971 at Astoria where wheat opened a bank account for the future for her grandson on the University to pay the cost of wheat-Astoria Greenberg himself is an old customer of many years. Wheat-Astoria with her family’s feelings are very good, in September 2003 he also participated in the 90-year-old stepmother Greenberg birthday party.

Aged 76-year-old Greenberg is a retired stockbroker, she said: “At December 11 ago, my life experiences have always shun.” But only in a few weeks, she and her family on the loss of “millions.” She lost that part of the money is to stay up contributions to charitable organizations. She said: “When they find out he is a liar, I suddenly realized what had happened before.”

Nothing

Ms. silverton a restaurant in Los Angeles are the top chef and owner of her in 2001 to five million U.S. dollars price to sell her restaurant. After she said she missed a lot of money-making opportunities, such as investment in a pot to create a pipeline, or make one file type of food TV. The face of today’s financial crisis, she said he “might be more such opportunities to seize the initiative.” Silverton is now writing her eighth book of the cooking.

In mid-December day, she received a phone call and was informed that the wheat-Astoria arrest. She was about the four friends go rural Napa wine company called “French Laundry”’s top restaurants, she is at that time to eat dinner on the road. “That my father made a phone call to give me,” she said, “my dad said, ‘We have nothing’, scaring the daylights out me.”

Like many people, 54-year-old silverton have to start from scratch, the new come. “My pension money for the children read the University of money, trust funds have put more money into the wheat-Astoria company. I could not believe that.”

I do not know who are wheat-Astoria

Ms. Weinberg was a 73-year-old widow, is the new American state legislator. Wheat was informed that at Astoria, she did not know who are wheat-Astoria, but had not expected was that she did not inform the Financial Planners her, help her put the money to invest into the wheat-Astoria company. And with her have the same people have a lot of experience.

Today, Weinberg is intended to own 1.3 million U.S. dollars in losses, how the rest of his life.

“I will not apply for government aid, but I absolutely will not do this of Health of such investment,” said Ms. Weinberg said that her whole family have been the effects of wheat-Astoria fraud, “Fortunately, my children are lucky enough to escape the robbery. For me, I have to economize in the next few years to live with. ”

The abolition of the family vacation

Mr. Ross was a Fort Lee, Virginia, the mayor at his 28-year-old has to do in 1975 that he had owned 28 office buildings. Few years, he sold one of the 11, then put the money into the company of the wheat-Astoria. Now he is also the management of the two office buildings.

Mr. Ross said that he invested the company’s wheat-Astoria five million U.S. dollars have , but he said that he would flat mentality, a correct view of the loss.

“Things happen, I have been trying to remain calm, but when I see there are so many older people are deeply hurt when my heart can not be restrained anger,” he said, “For us, it is not the world doomsday. my previous life too extravagant, several fake degrees less and less to eat under the restaurant several times, it’s no big deal. ”

Ross said that because of his losses, he canceled a family Christmas vacation, he said he wanted to work a lot harder in order to money for retirement.