The Washington Times - May 13, 2009, 05:57AM

Operators of “feeder funds” withdrew $12 billion from Bernie Madoff’s accounts in the year before his arrest — and almost half of it in the last three months, the New York Times is reporting.

The trustee handling Madoff’s bankruptcy has filed two lawsuits to collect $6 billion from two feeder funds that worked with the convicted Ponzi schemer.

SEE RELATED:


Officials hope that bilked investors will be able to recoup some of their losses.

Madoff was convicted of bilking investors out of $65 billion, so the amount taken out of his accounts before his arrest is less than 20 percent of the total — a drop in a bucket.  Still, $12 billion is a mighty big drop in a mighty big bucket.

How do you withdraw $12 billion?  Do you ask for small bills?  Can you do it at an ATM?

They withdrew $12 billion from Madoff’s accounts in the 12 months before his arrest.  Either they knew the end was near — or they were spending A LOT of time in strip clubs.