Jersey Yacht Sales
Madoff IT workers arrested over $65bn scam
Jerome O'Hara and George Perez face criminal charges of conspiracy, falsifying books and records of a broker dealer and falsifying books and records of an investment adviser.
Preet Bharara, the US Attorney for the Southern District of New York, alleges that the two men, who worked for Bernard L Madoff Investment Securities from the early 1990s, created computer programs that were filled with false information such as incorrect client names, trading details and accounts.
The false programs were used by Madoff to deceive the Securities and Exchange Commission (SEC) and an unnamed European accounting firm during at least five reviews of his Manhattan firm, Mr Bharara alleged.
The SEC has been castigated in the US for failing to uncover the 20-year fraud, despite numerous investigations into Madoff's activities.
The criminal complaint issued by the attorney today said: "O'Hara and Perez allegedly knew that the special programs they developed contained fraudulent information and that they were used in connection with the SEC and European accounting firm reviews."
In late 2006 the two computer programmers met with Madoff and told the swindler that they would not continue to lie for him, the attorney said. As a result, Madoff gave the men a 25 per cent pay rise and a bonus of $60,000 each.
If convicted, Mr O'Hara, a 46-year-old New Yorker, and Mr Perez, a 43-year-old from New Jersey, face 30 years in prison.
Madoff is serving 150 years in Butner Federal Correctional Center in North Carolina for perpetrating the world's largest investment scam.
Tomorrow, Madoff and his wife, Ruth, will see a lifetime of their valuables auctioned in New York to raise money for victims of his Ponzi scheme.
Among the possessions is a Rolex Monoblocco, a vintage timepiece also known as the Prisoner's Watch, because Hans Wilsdorf, Rolex's owner, sold the watches on credit to British prisoners of war during the Second World War, allowing them to pay when the war was over.
The Monoblocco is expected to fetch as much as $87,500, while Mrs Madoff's antique diamond earings could reach $21,400, according to estimates by Gaston & Sheehan, the Texan auctioneers running the sale at the New York Sheraton.
Buyers with less cash but a hankering for a piece of Wall Street history could snap up a set of Bernard L Madoff Investment Securities stationery, including personalised Post-it Notes, for between $90 and $100. A set of three T-shirts with the insignia of Madoff's yacht, Bull, is expected to go for $150 to $210.
A spokeswoman for Gaston & Sheehan said that the auctioneers expected a full house at the Sheraton, where about 75 lots will be disposed of each hour. "We've had a lot of interest in the auction and it's very widespread, across all the goods," she said.
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Filed under Yachting by on Sep 19th, 2011. Comment. 
University Yacht Club
How to Pick a sailing school for your kids ?
Many areas have specific programs for kids. They're most commonly located at a yacht club, sailing club, or camp, or through some community program, and are conducted during the summer months. Don't be put off by the fact that you're not a club member, a student at the university, or whatever. Most private yacht club junior programs welcome nonmembers. Check out the registration process in the winter months to make sure that the class doesn't fill up before your child is on the list.
If you find more than one potential program in your area, ask your child to help make the decision. Nine times out of ten, the best class is with her friends. I kept sailing mainly because all my friends sailed. If it's fun, your child is more likely to stick with it!
Keep the following factors in mind when checking out a youth sailing program:
- Schedule: Some programs run for two months, others in biweekly increments. Advanced groups may meet in the afternoon and beginners in the morning. Make sure that you know the number of hours your child will be sailing per day. What about lunch? Hungry kids don't learn as well as kids on a full stomach.
- Type and availability of boats: Find out what type of boat beginners sail. Do you need to own a boat, or does the club provide one? In some programs, if you don't own the boat, you have to crew. Crewing is fine for intermediate sailing, but beginners need to know how to steer the boat too.
- Grouping criteria: Most programs divide students into groups by age, which can create a small problem if your child is starting a few years late like Peter did. Ask the organizers how they solve this problem.
- Curriculum: Some programs (especially yacht clubs) may stress racing (which we love) over recreational sailing. This approach is okay, but having a balance is nice, and the best programs have a high fun factor.
- Instructors: What is the ratio of instructors to students? What certifications do the instructors have? Often instructors are college students; find out how many have previous teaching experience. A school rehiring an instructor for the next season is a good sign.
- Safety: Has the program had any problems in the past? What sort of special equipment, safety procedures, and insurance does it have? What are the age and swimming requirements?
- Equipment: What equipment does your child need? Does the school provide life jackets, or must you provide your own?
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Woodchuck is an up and coming expert on crafts and hobbies.
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Filed under Yachting by on Sep 14th, 2011. Comment.
Yacht Heritage
Discover the Croatian coastline with a yacht charter
Europe is known mainly for its history, culture, architecture, art and food. Some of the most famous countries and probably the most visited ones are France, Italy and England. Croatia has still managed to remain a haven without the touristy crowds, and this is probably not many people yet knows of the surprises that lay hidden on the Croatian coastline.
A yacht charter Croatia would probably be the best way to explore this vast coastline since there as so many islands and ports that it is not possible to visit them all except for sea travel. And if you are considering a Croatia yacht charter the best thing to do would be to begin with Venice in Italy.
Venice is different things to different people, it is a cacophony of sounds, colors, tastes and smells that can mystify and enchant anyone. Everyone probably knows of the famous gondolas and the romantic atmosphere of the city and it certainly stands up to its reputation. Every street, every café and every building here would take you by surprise and so it is highly recommended that you start here.
Along the coastline in Croatia, the Mediterranean fishing village of Rovinj is a beautiful place to watch the fishermen bring in their catch every morning. The wooded hills and the narrow pedestrian streets here serve as good places to stroll on the sunny afternoons.
The Brijuni Islands which are a part of the National Park of Brijuni are known for its stunning beauty. All of these islands have picture perfect beaches, most of which are deserted and thus can be the perfect locations for a day picnic. Since there are so many islands here that a Croatian yacht charter can be the best possible way to visit them all.
The ancient town of Zadar is a must visit for anyone. This ancient roman town still has plenty of Roman ruins, medieval churches and buildings and some interesting museums. The old town of Zadar is surrounded by an ancient fortification and the narrow streets with their numerous crowded and colorful shops are a sight not to be missed.
The Kornati National Park along the coastline has several small islands that are exceptionally beautiful. The sea here has some stunning reef and a perfect place for diving. The many islands here offer the chance to visitors to just bask in the pleasant sun and do nothing other than just enjoying the natural beauty around.
Split is one of the largest transport hub and the center point for the surrounding locations. The harbor side promenade here is lined with outdoor cafes and restaurants where one can spend an evening watching the sunset. The Diocletian’s Palace here is a World heritage site and is one of the major landmarks here.
Croatia’s coastline is one of the most beautiful ones in Europe, surrounded by hills that are covered with woods, glistening waterfalls, beautiful islands and fishing villages.
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If you considering visiting the coastline here throughyacht charter Croatia, you may want to visit these links to see how to get a Croatian yacht charter.
Filed under Yachting by on Sep 12th, 2011. Comment.
