Israel Lustig, Wealth Preservation Expert: Madoff List Release Will Harm Ponzi Victims

New York, NY—February 5, 2009—The Madoff victims “A-List,” a veritable who’s who of the rich and famous, was released too soon and will further harm the clients, businesses and organizations already devastated by the Ponzi scheme, according to Israel Lustig, CEO of Intergenerational Wealth Preservation, Inc. (www.interwealthpres.com), which serves victims of Ponzi schemes and others seeking financial disaster recovery.

“In this economy appearing weak results in real financial detriment,” says Israel Lustig, who, through Intergenerational Wealth Preservation, pioneered a new paradigm in financial disaster recovery for Ponzi scheme and other financial reversal victims. “We are dismayed that the list was published so soon before many of our clients had time to settle their affairs and deal with the ramifications of their losses.”

Lustig cites the following implications of the early publication of the list:

• If they were in the midst of a transaction or affiliation to liquefy assets or to generate income, victims lose leverage power and credibility with their buyers and contacts.
• One day after the list was revealed, clients are already finding themselves bombarded by litigation and financial “pitches.”
• In some cases, children did not know that their parents were victims of the scheme.  This creates friction in terms of the management of intergenerational wealth, impeding the wealth preservation planning process.
• The publication of this list may implicate the “gatekeepers” who may have involved the individuals in the Ponzi scheme to begin with.  Our clients have been advised by their attorneys to remain close-mouthed about these gatekeepers, lest they prejudice their case for future litigation.

“The only silver lining,” says Lustig, “Is that, because they are now public, the victims may be alerted to new strategies that they haven’t considered in terms of recovery methods.  And many can recover from a Ponzi scheme. We have helped clients regenerate by retrofitting remaining assets to provide cash, income and ensuring that legacies remain intact.”

Intergenerational Wealth Preservation (www.interwealthpres.com), helps victims of Ponzi schemes reverse financial losses, create liquidity where needed and preserve intergenerational wealth.

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