Former Clinton Backer Charged in $60M Scam

Bernie shoves another senior citizen in stock market argument

(NEWSER) - Scam king Bernie Madoff got into a shove match with another con during an argument about the stock market, according to jailbird witnesses. Another oldster con at the North Carolina fed pen where Bernie's serving 150 years shoved Madoff as the argument escalated. Madoff pushed back, causing the other inmate to stumble. "I didn't think Bernie had it in him. The other guy was in shock that he fought back," an inmate told the New York Post. The two ducked punishment because the confrontation wasn't spotted by guards. More»

May ask for $50M of clients' cash back

(NEWSER) - They're not accused of being in on the fix, but that's not stopping the court-appointed trustee of Bernard Madoff from going after the swindler’s sons and brother, CBS News reports. Trustee Irving Picard will file civil complaints against Mark, Andrew, and Peter Madoff and seek up to $50 million in a bid to regain money diverted from the Ponzi scheme, including at least $30 million in loans to the sons. More»

New focus on Peter as trustee seeks to compensate swindle victims

(NEWSER) - A federal court official may seek to claw back any funds transferred by Bernard Madoff's swindle company to his brother, reports the New York Post. The new focus on Madoff's sibling, an officer in his firm, was revealed in a letter to an attorney representing a New York law student. The student lost his $500,000 inheritance to investments in Madoff's ersatz hedge fund made by Peter Madoff. The court trustee is seeking Peter's money to compensate Madoff victims. More»

Peter Madoff had 'full knowledge' of scam, lawsuit charges

(NEWSER) - A Brooklyn law student who lost a $500,000 inheritance in the Bernard Madoff scam has won a court order freezing the assets of the swindler's brother, reports Reuters. Peter Madoff was in charge the student's trust, which he invested in Madoff's s scheme. Peter Madoff was an executive officer of the investment company but has not been charged with a crime. The suit charges he had "full knowledge that it was a fraudulent Ponzi scheme and an unprecedented fraud." More»

(NEWSER) - Federal investigators are scrambling "around the clock" to freeze Ruth Madoff's $93 million in assets before it disappears, sources told the New York Post. "The US attorneys will tell a judge in the next week or so that they believe Mrs. Madoff's assets are derived from ill-gotten gains and that they should be frozen," an SEC source said. More»