Help Wanted: No Madoffs Need Apply

Even those cleared of wrongdoing can't find finance work

By Harry Kimball, Newser Staff

Posted Dec 10, 2009 11:40 AM CST

(Newser) – Add his former employees to the list of of Bernard Madoff's victims—and that includes his sons. Wherever it appears, the Madoff name on a résumé is toxic for those trying to continue to work in finance, experts say. Mark Madoff, who worked for... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

12 comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

'Serpent Pastor' Dies of Snake Bite

Oosp: Romney's New App Misspells 'America'

Wall Street Journal (Source Grid »)

Money • Crime & Courts

finance • Ponzi scheme • resume • Bernard Madoff • Bernard L. Madoff Investment Securities • Andrew Madoff • Mark Madoff • job prospects • former employees • Madoff employees

More Newser Stories

Mark Madoff's Suicide Tightens Screws on Brother

Mark's death won't stop cases against brother Andrew

(NEWSER) - Bernie Madoff's son Mark may have committed suicide on Saturday but the lawsuits against him and his brother, Andrew, stemming from their father's Ponzi scheme are alive and well. Andrew Madoff, now Bernard Madoff's only surviving son, had the same responsibilities as his brother at the family firm, and is now expected to be the focus of even more attention than before in civil and criminal investigations, the Daily Beast reports. More»

Madoff Trustee Sues Relatives for Not 'Doing Their Jobs'

$199M suit spreads blame to firm's execs

(NEWSER) - The trustee in the Bernie Madoff case, delivering on his threat to sue the imprisoned fraudster's relatives and co-workers, filed a $199 million lawsuit today in bankruptcy court. Rather than alleging that they knew about Bernie's Ponzi scheme, Irving Picard's complaint takes issue with the way brother Peter, sons Mark and Andrew, and niece Shana did their jobs. It charges that they were "completely derelict" in their responsibilities to investors, the New York Times reports. More»

Madoff's $100K AmEx Bills Point to Rampant Abuse

Investors' money kept family living luxe

(NEWSER) - Ponzi-schemer Bernard Madoff used investors’ money as a “personal piggy bank” to support family, as well as some staff, extravagances, ABC reports. Documents filed in New York bankruptcy court show that Ruth Madoff used the company card to purchase nearly $5,000 of clothing at Paris boutiques last January, while sons Andrew and Mark charged ski vacations to the company. More»

Feds Go After Madoff's Sons, Wife's Jewelry

US seeks payback of loans, along with gems, cufflinks

(NEWSER) - The Madoff accounting continues. Authorities said today they intend to collect millions of dollars from Bernie's sons, about $2.6 million worth of his wife's jewelry, and 35 watches and cufflinks that belonged to the Ponzi schemer himself, the Daily News reports. Madoff lent son Mark $9.5 million, much of it just months ahead of his arrest, and son Andrew $22 million. While dad may not have collected, the government intends to, the News notes. More»

Trustee Wants $30M More From Madoffs

Irving Picard sues, again, for money

(NEWSER) - The court-appointed trustee seeking to recover billions of dollars lost by Bernie Madoff is suing for $30 million that he says the Madoff family invested in oil, gas, and tech, reports the AP . The suit filed by trustee Irving Picard says the investments were used as vehicles to funnel money out of Madoff's business, and comes as a follow-up to the lawsuit he filed in November seeking nearly $200 million from Madoff family members who he said lived lavishly while using the family business like a "piggy bank." More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Help Wanted: No Madoffs Need Apply

Even those cleared of wrongdoing can't find finance work

finance • Ponzi scheme • resume • Bernard Madoff • Bernard L. Madoff Investment Securities • Andrew Madoff • Mark Madoff • job prospects • former employees • Madoff employees

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Mark Madoff's Suicide Tightens Screws on Brother

Mark's death won't stop cases against brother Andrew

Madoff Trustee Sues Relatives for Not 'Doing Their Jobs'

$199M suit spreads blame to firm's execs

Madoff's $100K AmEx Bills Point to Rampant Abuse

Investors' money kept family living luxe

Feds Go After Madoff's Sons, Wife's Jewelry

US seeks payback of loans, along with gems, cufflinks

Trustee Wants $30M More From Madoffs

Irving Picard sues, again, for money

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?