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Message: News On Martin Armstrong

I must confess that I had never heard of Mr. Armstrong until his name appeared here. It appears that he is receiving "third world" treatment in the home of the bankers. I went to Wikipedia to learn more about him and here are a few words selected from their information:

"In 1999, Japanese fraud investigators determined that Armstrong had been collecting money from Japanese investors, improperly "commingling" these funds with funds from other investors, and using the fresh money to cover losses he had incurred while trading; this is a form of Ponzi scheme. [4] Assisting Armstrong in his scheme was the Republic New York Bank which produced false account statements to reassure Armstrong's investors, and which in 2001 agreed to pay $606 million as restitution for its part in the scandal.[5]

Armstrong was indicted in 1999, and was ordered by Judge Richard Owen to turn over a number of gold bars, computers, and antiquities that had been bought with the fund's money; the list included bronze helmets and a bust of Julius Caesar.[6] Armstrong produced some of the items, but claimed the others were not in his possession; this led to several contempt of court charges.[7] Armstrong was jailed for seven years for contempt of court, and only went to trial when the NY Court of Appeals removed Judge Owen from his case; in 2007 he pleaded guilty and was sentenced to five more years in prison.[8] Armstrong continues to write essays and has commented on the current economic conditions facing the United States and the world in 2007-09."

Does anyone here have more detailed knowledge of all of this? $606 million seems like an admission of guilt on the part of the bank. Is Armstrong's guilt acknowledged by his supporters and are they then only disputing the treatment he has received from the prison system? That treatment seems to be grounds for public outrage. I don't think many Canadians have any awareness of all of this.

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