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Bernie Madoff News

News about Bernie Madoff continually updated from thousands of sources around the net.

5 hrs ago | Reuters

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)

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Related Topix: Criminal Defense Law, Law, Financial Services, Bernard L Madoff Investment Securities, Investment Services

Mon Jul 28, 2014

Dealbreaker

It's Not Denny Chin's Fault He Ruled On A Fake Motion Filed By 'Bernie Madoff'

The federal judge didn't notice that the request to dismiss the charges against the guy he sentenced to 150 years in prison was filed by one " Frederick Banks, the Litigator Legal Asst ."

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Harvard Business School

Eyes Shut: The Consequences of Not Noticing

Editor's note: Behavioral economist Max H. Bazerman decided to pursue the subject of noticing after realizing that he wasn't very good at it himself.

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Related Topix: Fire, Business News

ABA Journal

Judge cites danger of 'sucker lists' in refusing to release names ...

A federal judge last month denied a request by Inside Edition for a list of the financial victims of Jordan Belfort, the stockbroker whose crimes were depicted in The Wolf of Wall Street .

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Related Topix: Books, The Wolf of Wall Street, Wolf of Wall Street, Family, Elderly (Senior Citizen)

Sun Jul 27, 2014

American Reporter

ConstanceDEVILS Dancing on the Graves

It's hard to resist being gleeful at seeing Wall Street swindler Bernard Madoff get the maximum sentence - 150 years in prison - for bilking investors out of anywhere between $65 billion and $171 billion.

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Related Topix: Home, Mortgage, Personal Finance, Federal Prisons, Prison

Sat Jul 26, 2014

The Advocate

Our Views: Credible safety net

With great reluctance, its chief says, the agency charged with protecting the financial interests of bilked investors has seized on a legal argument that avoids paying the bilked investors of Allen Stanford - costing many Louisiana families millions of dollars in potential relief.

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Related Topix: Many, LA, Securities and Exchange Commission, Corporate / Securities Law, Law, Opinion

ABA Banking Journal

Careful diligence helps banks stay away from schemers

Since the global recession of 2009, the doors on many Ponzi schemes, like the one orchestrated by the infamous Bernie Madoff, have been blown wide open.

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Related Topix: Marketing

Fri Jul 25, 2014

Pittsburgh Post-Gazette

Con artist files 'suit' for Bernie Madoff

A convicted con artist formerly of Pittsburgh with a propensity for writing frivolous civil suits is believed to have filed an apparently fake motion in Manhattan federal court to dismiss charges against Bernie Madoff, the jailed and infamous Ponzi scheme mastermind.

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Related Topix: Federal Prisons, Prison

Bloomberg

Madoff Five Face Sentencing as U.S. Calls Denials Galling

Five ex-aides to Bernard Madoff who prosecutors say have shown a "galling" lack of remorse since being convicted of fraud in March are set to be sentenced next week for propelling the biggest Ponzi scheme in U.S. history.

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Related Topix: Criminal Defense Law, Law, Federal Prisons, Prison, New York

Thu Jul 24, 2014

Reuters

U.S. judge won't overturn convictions of five ex-Madoff employees

The federal judge who oversaw the trial of five associates of imprisoned swindler Bernard Madoff on Thursday refused to overturn their convictions for helping their former boss run one of the world's biggest Ponzi schemes.

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The Washington Post

Ex-Merrill Chief Steffens Cleared by Jury Over Madoff Losses

Former Merrill Lynch & Co. brokerage chief John "Launny" Steffens and his investment firm Spring Mountain Capital LP were cleared by a jury in a trial over a customer's losses in Bernard Madoff's $17.5 billion fraud.

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Related Topix: Portland, ME, Business News

Wed Jul 23, 2014

JD Supra

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)

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Related Topix: Economics News, Bankruptcy, Financial Services, Bernard L Madoff Investment Securities, Investment Services

Forward

Bernie Madoff Judge Scammed by Fake 'Bio-Electric Scanners' Motion

Now he may be the victim of a forgery himself, after a U.S. judge on Wednesday denied a bizarre motion supposedly filed by Madoff that claimed the U.S. intelligence agencies used "bio-electric sensors" to influence the case against him.

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Related Topix: Second Circuit Court of Appeals, US News, Israel, World News, Middle East

Reuters

U.S. judge dismisses suit claiming JPMorgan knew of Madoff fraud

A U.S. federal judge on Wednesday dismissed a shareholders' lawsuit claiming JPMorgan Chase & Co board members knew about Bernard Madoff's Ponzi scheme and ignored red flags signaling his massive fraud.

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Related Topix: Banking, JP Morgan Chase , Federal Prisons, Prison, Jacksonville, IL

Tue Jul 22, 2014

Seeking Alpha

Synopsis: Bill Ackman's Herbalife Presentation-Round 2

Pershing Square Founder and CEO, Bill Ackman, has taken the offensive once again in his billion dollar short of Herbalife .

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Related Topix: Marketing, Queens, NY, New York, NY

Investopedia

OMG, I Think I've Been Scammed

Americans lose an estimated $40 billion to $50 billion a year to investment scams, according to the Financial Fraud Research Center.

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Related Topix: Criminal Defense Law, Law

Mon Jul 21, 2014

The Advocate

Court rules Stanford victims cana t get protection agency funds

The Securities Investor Protection Corp.'s emergency fund is not available to people who were fleeced of billions of dollars by Houston swindler Robert Allen Stanford, an appellate court has ruled.

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Related Topix: District of Columbia Circuit Court of Appeals, US News

CNN

Zelizer: Are Democrats afraid of the inequality issue?

In the early 20th century, industrial tycoons like the Rockefellers and Carnegies amassed fortunes in railroads, steel or oil.

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Related Topix: Lawrence Ellison, Home, Mortgage, Personal Finance, Opinion

Philly.com

Lesson from Madoff: Avoid family-run investment firms

Looking for some sleazy beach reading? Here's a tale of a whole family ripping off investors: Bernie Madoff and his sons are back in the news.

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Fri Jul 18, 2014

Reuters

RPT-Maddoff associates should get 'significant' time -prosecutors

Five former employees of disgraced investment manager Bernard Madoff should be sentenced to "significant" prison sentences of up to 20 years or more, prosecutors said in a court filing on Friday.

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Related Topix: Criminal Defense Law, Law

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