Thursday Jul 17
Madoff sons accused of role in Ponzi scheme
The Ponzi scheme perpetrated by Bernie Madoff is back in the news. According to a court-appointed trustee, Madofff's sons created accounts out of thin air and engineered sham loans to buy Manhattan real estate as they diverted tens of millions of dollars from their father's firm.
The Real Deal
Madoff sons fashioned fake loans for NYC real estate buys: suit
An amended lawsuit against Ponzi schemer Bernie Madoff's sons alleges the pair diverted tens of millions from their father's firm to engineer fake loans they then used to buy Manhattan real estate.
The Hartford Courant
Madoff trustee is dealt fresh legal setback
A Manhattan federal judge has limited the ability of the trustee seeking money for victims of Bernard Madoff 's Ponzi scheme to recoup sums that may have been fraudulently transferred outside the United States.
Madoff, Stanford fraud victims refused appeals by U.S. top court
Victims of the Ponzi schemes of Bernard Madoff and Allen Stanford, two of the largest in U.S. history, suffered setbacks on Monday as the U.S. Supreme Court refused to hear appeals in two cases seeking to recoup more money for them.
What Happens When You Blow the Whistle and Everyone Ignores You?
If a tree falls in the forest and nobody is around to hear, does it make a sound? The answer to this quantum theory question depends on the interpretation of perception and reality.