Peter Madoff pleads guilty in NYC, blames brother
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In pleading guilty to criminal charges, Peter Madoff portrayed himself as a victim of a domineering older brother who he revered right up until an evening in December 2008 when his sibling revealed that his wildly successful investment business was a sham that lost its customers their nearly $20 billion investment.
"I was in total shock," Madoff said Friday as he described the confession by his older brother, Bernard. "My world was destroyed. I lost everything I worked for."
The 66-year-old Madoff, saying he was "deeply ashamed and terribly sorry," spoke angrily about his 74-year-old brother, who is serving a 150-year prison term after admitting his creation of the largest known Ponzi scheme.
"My family was torn apart as a result of my brother's atrocious conduct," he said. "I was reviled by strangers as well as friends who assumed that I knew about the Ponzi scheme."
He said his brother had made it clear that he would never become a partner in the business where he had worked since 1966, even as he was showered with tens of millions of dollars in salary, bonuses and other financial gifts. He made him the investment business's chief compliance officer.
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USCIS Issues Clarifying Guidance on NAFTA TN Status Eligibility for Economists
U.S. Citizenship and Immigration Services (USCIS) announced today that it is clarifying policy guidance (PDF, 71 KB) on the specific work activities its officers should consider when determining whether an individual qualifies for TN nonimmigrant status as an economist.
The North American Free Trade Agreement (NAFTA) TN nonimmigrant status allows qualified Canadian and Mexican citizens to temporarily enter the U.S. to engage in specific professional activities, including the occupation of economist. The agreement, however, does not define the term economist, resulting in inconsistent decisions on whether certain analysts and financial professionals qualify for TN status as economists.
TN nonimmigrant status is intended to allow a limited number of professionals and specialists to work temporarily in certain specifically identified occupations in the United States. This updated guidance provides USCIS officers with a specific definition of one such category – economists – allowing them to adjudicate applications in a way that complies with the intent of the agreement. This policy update clarifies that professional economists requesting TN status must engage primarily in activities consistent with the profession of an economist. Individuals who work primarily in other occupations related to the field of economics — such as financial analysts, marketing analysts, and market research analysts — are not eligible for classification as a TN economist.