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Prosecutors, defense spar over $150 billion forfeiture for Madoff aides
Four months after five former Bernard Madoff aides were convicted of helping conceal his massive Ponzi scheme, their lawyers and U.S. prosecutors are still fighting over the trial's key question: What did they know, and when did they know it? Prosecutors are seeking more than $150 billion in criminal forfeiture from the longtime employees of ... (more)
U.S. District Court Limits the Extraterritorial Application of U.S....
On July 6, 2014, Judge Jed S. Rakoff, United States District Judge for the Southern District of New York, declined to extend the reaches of section 550 of the Bankruptcy Code abroad to permit the recovery of funds that were alleged to be fraudulently obtained by Bernard L. Madoff Investment Securities LLC in connection with Bernard Madoff's Ponzi ... (more)
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.