Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

"$100 Trillion Offer" for Madoff's Company

Bruce Carton | May 21, 2009

Irving Picard, the bankruptcy trustee liquidating Bernard Madoff's securities firm, had to file a motion with the court yesterday to block a supposed "$100 trillion offer" to buy Madoff's company. The NY Post reports that Picard received correspondence from one Ade Ogunjobi proposing an "all stock tax free transaction involving $100 trillion in stock or 400 million shares" of his company, Toks Inc.

In his motion, Picard called the offer "replete with incredible and unfounded statements" and, shockingly, added that Ogunjobi offered "no facts" to back up his $100 trillion offer. The Post reports that Ogunjobi has previously been barred from offering bogus promissory notes over the Internet.

Ogunjobi reportedly insists that his offer is real and that he will be in court for the scheduled June 2 hearing.

Hmmmm, I wonder if I could get a measly $100,000 for my...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.