{"id":1112,"date":"2020-11-19T10:02:55","date_gmt":"2020-11-19T09:02:55","guid":{"rendered":"https:\/\/labfirm.it\/?p=1112"},"modified":"2020-11-19T10:02:56","modified_gmt":"2020-11-19T09:02:56","slug":"bancarotta-piccoli-madoff-crescono","status":"publish","type":"post","link":"https:\/\/labfirm.it\/fr\/bancarotta-piccoli-madoff-crescono\/","title":{"rendered":"FAILLITE\u00a0: PETITE CROISSANCE \u00ab\u00a0MADOFF\u00a0\u00bb"},"content":{"rendered":"<p>Qui ne conna\u00eet pas l&#039;histoire de <strong><u>Bernie Madoff<\/u><\/strong>, le financier <em>New yorkais<\/em> qui, en modernisant le &quot;Ponzi Scheme&quot;, a fraud\u00e9 des milliers de personnes et s&#039;est vu infliger, avec la l\u00e9gislation am\u00e9ricaine actuelle, la peine maximale \u00e9gale \u00e0 <strong><u>150 ans de prison<\/u><\/strong>.<\/p>\n\n\n\n<p>Madoff a \u00e9t\u00e9 reconnu coupable de onze chefs d&#039;accusation (<em>accusations de crime<\/em>), y compris fraude en valeurs mobili\u00e8res, fraude par des conseillers financiers, fraude postale, fraude t\u00e9l\u00e9matique, trois chefs de blanchiment d&#039;argent, fausse d\u00e9claration, parjure, faux d\u00e9p\u00f4ts aupr\u00e8s du &quot;<em>Commission de S\u00e9curit\u00e9 et d&#039;Echanges<\/em>\u00ab Et la fraude \u00e0 la s\u00e9curit\u00e9 sociale des salari\u00e9s (<a href=\"https:\/\/www.justice.gov\/usao-sdny\/programs\/victim-witness-services\/united-states-v-bernard-l-madoff-and-related-cases\" target=\"_blank\" rel=\"noopener\">https:\/\/www.justice.gov\/usao-sdny\/programs\/victim-witness-services\/united-states-v-bernard-l-madoff-and-related-cases<\/a>).<\/p>\n\n\n\n<p>le <strong><u>Sch\u00e9ma de Ponzi<\/u><\/strong> qui a inspir\u00e9 la gigantesque arnaque a \u00e9t\u00e9 invent\u00e9e par un immigr\u00e9 italien aux USA, Charles Ponzi, et permet aux initiateurs de la cha\u00eene et aux premiers investisseurs d&#039;obtenir des rendements \u00e9conomiques \u00e0 court terme tr\u00e8s \u00e9lev\u00e9s, pay\u00e9s avec les sommes vers\u00e9es par de nouveaux investisseurs sans m\u00e9fiance attir\u00e9s par revenus \u00e9lev\u00e9s.<\/p>\n\n\n\n<p>Dans une affaire similaire devant la Cour supr\u00eame, il a \u00e9t\u00e9 constat\u00e9 que les actifs financiers des clients avaient fait l&#039;objet d&#039;un renversement de propri\u00e9t\u00e9 entre deux soci\u00e9t\u00e9s d&#039;investissement li\u00e9es l&#039;une \u00e0 l&#039;autre, Alfa et Beta, <strong><u>avec les ressources \u00e9conomiques des clients de la soci\u00e9t\u00e9 Alfa utilis\u00e9es pour les op\u00e9rations de \u00ab remboursement \u00bb des clients de la soci\u00e9t\u00e9 Beta<\/u><\/strong> et cela a \u00e9t\u00e9 fait en l&#039;absence de toute preuve que les clients avaient re\u00e7u des informations sur la destination des transactions.<\/p>\n\n\n\n<p>L&#039;art. 21 alin\u00e9a 1 lettre. b) TUF \u00e9tablit que dans les op\u00e9rations d&#039;investissement, les parties qualifi\u00e9es doivent \u00ab\u00a0informer clairement les clients, avant d&#039;agir en leur nom, de la nature g\u00e9n\u00e9rale et\/ou des sources de conflits d&#039;int\u00e9r\u00eats\u00a0\u00bb et, par cons\u00e9quent, de l&#039;existence pr\u00e9sum\u00e9e du consentement des clients \u00e0 l&#039;utilisation de instruments financiers et liquidit\u00e9s, n&#039;excluait pas, selon la Cour de cassation, l&#039;attribution aux biens du sujet en liquidation judiciaire administrative des biens g\u00e9r\u00e9s par lui, de quelque mani\u00e8re qu&#039;ils aient \u00e9t\u00e9 obtenus, d&#039;autant plus que l&#039;usage abusif des des titres ou de l&#039;argent ont conduit \u00e0 leur confusion dans les actifs de l&#039;interm\u00e9diaire et leur aptitude \u00e0 \u00eatre distrait.<\/p>\n\n\n\n<p>Il ne faut pas oublier que la responsabilit\u00e9 du crime de <strong><u>faillite pour distraction<\/u><\/strong> elle exige la v\u00e9rification de la disponibilit\u00e9, par le pr\u00e9venu, des biens non trouv\u00e9s au sein de la soci\u00e9t\u00e9 et, par cons\u00e9quent, la soustraction de la garantie aux cr\u00e9anciers des biens r\u00e9els.<\/p>\n\n\n\n<p>Dans l&#039;affaire trait\u00e9e, consid\u00e9rant que les titres des clients de la soci\u00e9t\u00e9 Beta \u00e9taient des obligations pratiquement illiquides d&#039;une valeur nominale de 200 millions d&#039;euros, la Cour supr\u00eame a constat\u00e9 que les paiements effectu\u00e9s par les clients n&#039;avaient \u00e9t\u00e9 effectu\u00e9s qu&#039;en faveur de l&#039;Alfa et non la soci\u00e9t\u00e9 Beta. Ainsi, sur le montant total d&#039;environ 225 millions d&#039;euros contest\u00e9 dans son ensemble au titre de la faillite frauduleuse pour distraction, il fallait d\u00e9duire le capital \u00ab prot\u00e9g\u00e9 \u00bb des clients de Beta, \u00e9gal \u00e0 environ 200 millions d&#039;euros, .<\/p>\n\n\n\n<p>Par cons\u00e9quent, la plupart des \u00ab\u00a0titres pr\u00e9sum\u00e9s\u00a0\u00bb g\u00e9r\u00e9s par la soci\u00e9t\u00e9 Beta, n&#039;\u00e9tant qu&#039;une cr\u00e9ation artificielle de l&#039;accus\u00e9, devaient \u00eatre consid\u00e9r\u00e9s <strong><u>inexistant en termes de valeur \u00e9conomique r\u00e9elle<\/u><\/strong>, ne pouvant donc pas \u00eatre un objet de distraction et \u00e9liminant ainsi l&#039;\u00e9l\u00e9ment objectif du crime.<\/p>\n\n\n\n<p>La Cour a en effet annul\u00e9 la condamnation sur ce point avec renvoi pour un nouveau jugement.<\/p>","protected":false},"excerpt":{"rendered":"<p>Chi non conosce la storia di Bernie Madoff, il finanziere newyorkese che, modernizzando lo \u201cSchema Ponzi\u201d, ha truffato migliaia di persone e si \u00e8 beccato, con la vigente normativa statunitense, il massimo della pena pari a 150 anni di carcere. Madoff \u00e8 stato giudicato colpevole di undici capi di accusa (felony charges), tra cui frode [&hellip;]<\/p>","protected":false},"author":4,"featured_media":1113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[33],"tags":[],"class_list":["post-1112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cronaca"],"_links":{"self":[{"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/posts\/1112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/comments?post=1112"}],"version-history":[{"count":0,"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/posts\/1112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/media\/1113"}],"wp:attachment":[{"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/media?parent=1112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/categories?post=1112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/labfirm.it\/fr\/wp-json\/wp\/v2\/tags?post=1112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}