Divorcé Sues Ex in Bid to Share Madoff Losses

He lost his share of settlement in Ponzi scheme

(NEWSER) - Bernie Madoff is messing up divorce settlements now, too. A husband wants his wife to give him back millions of dollars because he lost his share of their combined wealth in Madoff's Ponzi scheme, reports the New York Times . Steven Simkin and Laura Blank split up in 2006 and divvied up $13.2 million in assets. She took hers in cash, while he kept his under the care of Madoff. When Madoff's scheme went poof, Simkin filed papers to revise their settlement. His wife refused, and the matter has now reached New York state's highest court. More»

(NEWSER) - The economic crisis isn’t just hurting Wall Street executives—it also spells dark times for the charities they once supported, the Wall Street Journal reports. The number of US nonprofits climbed from about 750,000 a decade ago to more than a million today, but watchers say 100,000 could drop off in the next year. And those that don’t shutter are facing heartbreaking cutbacks. More»

Funds were businessman's first Madoff deal

(NEWSER) - A New York businessman is suing to recover $10 million he handed over to Bernard Madoff 6 days before the alleged Ponzi schemer was arrested, the Wall Street Journal reports. Martin Rosenman wired the funds to a JP Morgan Chase account controlled by Madoff, who told the first-time investor that he would hold the money until next year. While Rosenman is one of many hoping to recover funds, his lawyer says time may be on the Bronx fuel company chief's side. More»

Take a look at what $9M will get you in New York City

(NEWSER) - The guy who brought you Cabbage Patch Kids and Pokemon has snapped up the penthouse apartment of erstwhile Ponzi schemer Bernard Madoff, reports the New York Post . Al Kahn is the CEO of 4Kids Entertainment, and will be calling the 4000-square-foot lux digs in Manhattan's Upper East Side home sweet home. Asking price was reduced from from $9.9 million to $8.9 million; Kahn is thought to have paid just under. More»

Jailed Ponzi lawyer just wanted a beach house. $380 million later...

(NEWSER) - Before he left house arrest in his posh New York apartment to start serving a 20-year sentence, Ponzi schemer Marc Dreier attempted to explain his bizarre actions. Dreier sold bogus debt to expand his law firm, impersonating execs from other companies to do so. His criminal enterprise, he tells Vanity Fair, was based on desire for a beachfront Hamptons home. “I wanted to just, well, appease myself,” he says. More»