One for the “Lessons for Bernie” file:
“Any entity can be formed, without capital, is just another dream going no where [sic]. Any entity cannot dream, only an entrepreneur can dream and possess the vision. An entity is just an entity formed to accomodate operations.”
Behold: the mystic ramblings of Ade O. Ogunjobi, multi-trillion dollar bidder for the remnants of Bernard L Madoff Investment Securities LLC.
Herein more amusing extracts from the affidavit in support of a Motion for Intervention in the case of Securities Investor Protection Corporation v. Bernard L. Madoff Investment Securities LLC. (Aka Ogunjobi’s $100 trillion offer – via his unregistered company, Toks Inc – to buy the Madoff companies, and, inter alia, establish the largest bank in the world to fight poverty and solve the financial crisis.)
And so the fun continues… Several pages are in fact dedicated by Mr Ogunjobi to the plaintive recollection of his difficulty thus far in securing $5,000 as a retainers fee for an attorney. (The attorney backed out after Mr Ogunjobi asked him to witness a loan application for the same amount, repayable at $125 a month over four years). Thereafter a brief traducing of the “lies” planted by the SEC the last time Ogunjobi had a run in with them (which should be ignored since “no one [else] has any scintilla of reimbursing the victims of Bernard L Madoff Investment Securities LLC all the money lost that we now know are in billions.”).
The best though, is saved for last.
Madoff trustee , Irving Picard, is unable to see the funny side, of course: he is actually having to spend his time filing a motion to pursuade the court to reject Mr Ogunjobi’s offer.
The Motion however is replete with incredible and unfounded statements on how the Movants intend to achieve their plan, and contains no facts supporting their ability to consummate the proposed tender offer.
The Movants seek to intervene in this proceeding to conduct a tender offer to purchase BLMIS in exchange for what they propose is a global, all stock tax free transaction involving $100 trillion in stock or 400 million shares of Class A shares of Toks. The Movants propose to commence and fund their plan with the $1 billion of funds collected by the Trustee. The Motion however is replete with incredible and unfounded statements on how the Movants intend to achieve their plan, and contains no facts supporting their ability to consummate the proposed tender offer.