It’s coming to light in the media, and in the politcal circles, that one Robert Jaffe, current socialite of Palm Beach and New York circles, is being forced by the government to testify about what he knew in regards to the Madoff scheme that alledgely took up to $50 billion from the wealthy and connected over decades.

Jaffe, a “scratch golfer with an actor’s good looks,” according to Reuters, “cut an impressive figure in the wealthy circles of Florida’s exclusive Palm Beach.”   The 64 year old chairman of the multimillion-dollar Palm HealthCare Foundation was sought out by the wealthy and powerful because he was able to connect people with Madoff’s remarkable investment scheme.

“Massachusetts Secretary of State William Galvin wants to know exactly how much Jaffe knew about that business, filing a lawsuit on Wednesday in a bid to force the Massachusetts native to testify about Madoff’s alleged scheme,” according to Reuters.  One of Jaffe’s associates is Carl Shapiro of clothing brand Kay Windsor, who may have lost over $500 million to Madoff’s Mistake.  Others who also lost money are coming to Jaffe’s defense, saying he would not have involved friends and business associates into the scheme if he knew it was fraudulent.

Jaffe married Ellen Shapiro (unknown if there’s a relation to Carl) and owns a $17 million dollar mansion next door to Madoff.

Jaffe’s forced testimony was supposed to testify on Tuesday, January 13, 2009, but skipped and had a doctor’s note to let him stay the testimony.  

Here’s my note to Jaffe: don’t testify.  Use your right to remain silent.  Look at powerful people who went to jail, not for committing a crime, but for lying during an interview.  NOTHING you can say will help you.  If people think you’re guilty, let them — what worse can happen now that your recommendations brought people huge losses?  Just shut up, Jaffe.  You don’t need jail time just because something you say may not end up being 100% truthful, based on how our criminally corrupt government likes to look and dig and pry and bribe others to lie on their behalf, against you.

Stay free, stay quiet.

Related posts:

1. Robert Powell from MarketWatch cries: worth reading
2. Who is Harry Markopoulos; why was he ignored re: Madoff?
3. Another Madoff-like hedge fund ripoff: Arthur Nadel
4. Harry Markopolos testifies to Congress: Madoff losses $15-$25 billion
5. Harry Markopolos / Markopoulos smells a stink from Madoff
6. Harry Markopolous / Markopolos Letter to the SEC 2005, against Madoff
7. Public schools outstep their bounds again? Shut them down.
8. Splat: another bank goes bankrupt