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.
Import Yacht Australia
Australia : the Sight-seeing Travel Tour
If you haven't been to Australia or are planning to visit it a second time, then you must have all the information about the places to visit so that you can fully experience the wonderful land that is Australia.
Australia is the sixth-largest country in the world and is divided into 6 states and several territories. The 6 states are New South Wales, Queensland, South Australia, Tasmania, Victoria and Western Australia. The two major territories are the Northern Territory (NT) and the Australian Capital Territory (ACT).
The largest part of Australia is desert or semi-arid, but the south-east and south-west corners have temperate climate and moderately fertile soil. The northern part has tropical climate, which is part tropical rainforest, part grassland and part desert.
When you go to Australia, you just cannot miss seeing The Great Barrier Reef. It is the world's largest coral reef and extends for over 1,200 kms! It lies a short distance from the north-east coast.
Another spectacular place to visit is Uluru. It is the second largest monolith in the world and is located in central Australia. You can also visit the Great Artesian Basin, which is the world's largest and deepest fresh water basin. Along with its beauty, it also serves as an important source of water in the parched outback.
You sure can't miss going to Sydney if you visit Australia. Sydney is located in a coastal basin situated between the Pacific Ocean to the east and the Blue Mountains to the west. You can enjoy all the activities associated with beaches because there are more than 70 beaches in Sydney! If you have limited time, then you can only go to the famous Bondi Beach of Australia.
Sydney has more amazing landmarks for you like Sydney Harbour Bridge and Sydney Opera House. Both are located in Sydney Harbour. If you are interested in rowing, boating, recreational fishing, racing small yachts and Dragon Boat racing, then you can get all that in Sydney Harbour.
The city also boasts of musical, theatrical and artistic activities which come under one roof in the Sydney Festival which happens every January. More information can be found here - Sydney Australia.
Melbourne is another major city of Australia which is situated in the south-east corner of the mainland Australia. It has a large and vibrant cultural life along with a chain of pubs, bars and nightclubs. Fashionable nightclubs, ubiquitous faux-Irish pubs, serious jazz venues on Bennetts Lane, massive pickup joints like The Metro on Bourke Street are all part of the city's magic.
If shopping is what tempts you the most, then there are many reasonably priced shopping places where you can go and shop till you drop. Melbourne has innumerable clothing shops for every budget and various outlet stores in Bridge Road, Richmond for bargain hunters too!
Perth is a city known for the pristine quality of its beaches. Unbroken stretches of golden sands run through the entire length of the city's coastal suburbs. If you are a nature lover, then you got to see this place.
Adelaide or the 'City of Churches', as it is often referred as, is a coastal city situated on the Fleurieu Peninsula. The name City of Churches is a reflection of Adelaide's past rather than its present. The city has many wine growing districts such as the Baroosa valley.
Food lovers can taste traditional Australian cuisine which consists of grilled chops, Sunday roasts etc. Some English trends are still evident in domestic cuisine like hot roast turkey, chicken or ham with all the trimmings followed by Christmas pudding. Australia's two most traditional takeaway dishes are the meat pie and sausage roll.
Travel Australia NOW for a taste of a different weather!
Now, more than ever, is the perfect time to travel Australia and plunge into the the loveliest melting pot of all. Australia is home to most bustling and vibrant cities in the world, promising equal opportunities to everyone.
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Filed under Yachting by on Sep 8th, 2011. Comment.
