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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Ponzi scheme

Ponzi scheme stories: 247 news summaries

181 - 200 of 247 Stories | << Prev 1 ... 6 7 8 9 10 11 12 13 Next >>

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 Zsa Zsa Lost 
 Millions to Madoff 

Madoff not so 'darling' to actress, 91, who's out up tp $10M

Jan 25, 09 4:51 AM CST
(Newser) - Actress Zsa Zsa Gabor has lost as much as $10 million to accused Ponzi scheme swindler Bernard Madoff, Reuters reports. The actress, 91, is not taking the recently discovered losses well, according to her lawyer. The Hungarian-born cinematic darling of the 1950s and '60s— who chalked up a string of... More »

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Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities • Zsa Zsa Gabor • recession depression

(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,... More »

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philanthropy • Wall Street • New York City • charity • nonprofit • Ponzi scheme • community organizers • Bernard Madoff • charitable giving • recession depression

SEC Charges 'Mini-Madoff' With Fraud

Fugitive fund manager remains on the run as cops follow trail to La.

Jan 22, 09 9:55 AM CST
(Newser) - A Florida hedge fund manager who's been on the run for more than a week will find federal fraud charges waiting for him if and when he resurfaces, Reuters reports. Arthur Nadel transferred more than $1 million of clients' money into secret accounts before disappearing, the SEC alleges in a... More »

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New Orleans • hedge fund • fugitive • Ponzi scheme • securities fraud • defrauding investors • Art Nadel

 Florida 'Mini-Madoff' 
 Missing With $350M 

Police searching for fund manager after clients complain of missing millions

Jan 17, 09 7:48 AM CST
(Newser) - A Florida hedge fund manager is missing along with hundreds of millions of dollars of his clients' money, the Sarasota Herald-Tribune reports. Art Nadel, 75, was reported missing Wednesday after his wife found a suicide note. Stunned investors have been told that Nadel's funds, thought to have totaled $350 million,... More »

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Florida • hedge fund • investment • money management • Ponzi scheme • missing person • securities fraud • Art Nadel • recession depression

 Schapiro Pledges to 
 'Reinvigorate' SEC 

Obama nominee wants better cooperation among agencies in nabbing next Madoff

Jan 15, 09 12:30 PM CST
(Newser) - Mary Schapiro, Barack Obama’s nominee to head the Securities and Exchange Commission, told senators today she would make enforcement a top priority, CNN reports. Her confirmation hearing was also peppered with questions about how Bernard Madoff’s Ponzi scheme slipped past regulators; Schapiro currently heads an industry watchdog group.... More »

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Barack Obama • SEC • Senate confirmation hearings • Ponzi scheme • chairman • President Obama • Bernard Madoff • Mary Schapiro

Ruth Madoff: 
Accomplice or 
Another Victim? 

Both possibilities hard to believe, friends say of inseparable couple

Jan 15, 09 8:50 AM CST
(Newser) - Bernard Madoff and his wife, Ruth, have been married for nearly 50 years and are practically inseparable. They worked together, and the outgoing blonde with the all-American look attracted friends to his hedge fund, the New York Times reports. So did she know or didn't she? "It’s hard... More »

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investing • Wall Street • fraud • Ponzi scheme • Bernard Madoff • Ruth Madoff

NY Investigates Madoff Chum in Charity Losses

Nonprofits say Merkin invested millions without their knowledge

Jan 15, 09 6:44 AM CST
(Newser) - New York investigators widened their inquiry into Bernie Madoff's Ponzi scheme yesterday, as claims emerged that a middleman may have defrauded charities of millions of dollars. Money manager Ezra Merkin allegedly invested the money of 15 nonprofits in Madoff funds without their knowledge, reports the New York Daily News. New... More »

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fraud • charity • nonprofit • New York University • Ponzi scheme • Carnegie Hall • Yeshiva University • Bernard Madoff • Ezra Merkin

 Another Judge 
 Sends Madoff 
 Home 

Feds' appeal to put financial scammer behind bars rejected

Jan 14, 09 2:54 PM CST
(Newser) - A second judge rejected a bid to revoke Bernard Madoff's bail during a hearing today in which the accused scam artist wore a bulletproof vest, Bloomberg reports, sending him home to his Manhattan penthouse rather than into custody. Prosecutors argued Madoff can’t be trusted, citing attempts to mail  jewelry... More »

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federal courts • bail • Ponzi scheme • Bernard Madoff • Lawrence McKenna

OPINION

The Upside of the Madoff Mishegoss

Thank Bernie for reminding us that Jews shouldn't be WASPs

Jan 13, 09 11:42 AM CST
(Newser) - Bernie Madoff, the professionally dishonest, gelt-grubbing financier, seems to conform to some of the worst stereotypes about Jews and money, writes Joseph Epstein in Newsweek. While Madoff appears to have made a particular specialty of swindling fellow Jews, he is actually less anti-Semite than "truly equal-opportunity son of a... More »

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golf • Jews • Judaism • Ponzi scheme • Bernard Madoff

Madoff Delays Could Point
to Plea Bargain

Wording in court order suggests negotiations
in $50B fraud case

Jan 13, 09 9:41 AM CST
(Newser) - Signs emerged yesterday that disgraced financier Bernard Madoff is trying to cut a deal that could end his $50 billion fraud case without trial, the New York Times reports. A federal magistrate refused to revoke Madoff’s bail and delayed a hearing on Madoff’s case for 30 days so... More »

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bankruptcy • indictment • plea bargain • Ponzi scheme • defrauding investors • Bernard Madoff

 Madoff Stays Free on Bail 

Judge doesn't revoke bail

Jan 12, 09 11:37 AM CST
(AP) - A New York judge ruled today that Bernard Madoff may remain free on bail, rejecting a bid by prosecutors to send the disgraced investor to jail. Madoff mailed more than $1 million in jewelry and heirlooms to family and friends over the holidays. Prosecutors said the gifts were grounds to... More »

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fraud • jail • bail • Ponzi scheme • Bernard Madoff

Madoff Finally Apologizes—to His Neighbors

Ponzi schemer says sorry for 'terrible inconvenience'

Jan 12, 09 7:51 AM CST
(Newser) - Bernie Madoff hasn't had anything to say to the public since the revelation of his $50 billion Ponzi scheme. But to the few dozen residents of his luxury apartment building on New York's Upper East Side, the disgraced financier, who earlier resigned as president of the co-op board, recently sent... More »

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New York • house arrest • Ponzi scheme • apartment • Bernard Madoff


 Madoff Brother 
 Eyed for Not 
 Reporting Scam 

Fraudster may have confessed to brother  before he told his sons

Jan 10, 09 6:39 AM CST
(Newser) - Bernard Madoff's brother learned that the Madoff fund was a huge scam the evening before the fraudster confessed to his sons, but he failed to inform authorities, insiders tell the New York Times. Peter Madoff, who worked closely with his older brother for decades, has not been charged with any... More »

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private equity • SEC • brother • Ponzi scheme • securities fraud • defrauding investors • Bernard Madoff • Peter Madoff

Untangling Madoff Case Baffles Feds

Investigators struggle with mounds of documents

Jan 9, 09 3:37 PM CST
(Newser) - Federal investigators are struggling to piece together Bernie Madoff’s massive Ponzi scheme almost a month after his arrest for securities fraud, Bloomberg reports. The FBI, SEC, and Manhattan US attorney are amassing piles of data, including transaction records and investors’ monthly statements, to determine who else may have been... More »

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FBI • investors • SEC • Ponzi scheme • securities fraud • Bernard Madoff

Madoff Had $173M in Checks for Friends, Relatives: Feds

Fraudster also transferred $160M to British firm as possible exit strategy

Jan 8, 09 1:14 PM CST
(Newser) - Investigators searching Bernard Madoff’s office found 100 signed checks worth $173 million, which the fraudster apparently sought to give to relatives, friends and key employees of his investment operation, the Wall Street Journal reports. This latest insight into the alleged Ponzi scheme emerged as federal prosecutors try to revoke... More »

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Ponzi scheme • Bernard Madoff

Madoff Whistleblower
Shrinks From Spotlight

Tenacious accountant stands to make book, film money, but just wants to move on

Jan 8, 09 12:29 PM CST
(Newser) - Harry Markopolos, the accountant who began warning the feds years ago about Bernard Madoff’s Ponzi scheme, wasn’t looking for the limelight, the Boston Globe reports. Not only is he testifying before Congress—he’s also been deluged by book and movie offers. His is “a remarkably compelling... More »

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fraud • SEC • accountants • Ponzi scheme • whistleblower • Bernard Madoff • Harry Markopolos • forensic accounting

Major Austrian Investor Tied to Madoff Vanishes

Bank Medici founder lost $2.1B, may fear jilted investors

Jan 7, 09 1:05 PM CST
(Newser) - Sonja Kohn, the well-known founder of Austria’s Bank Medici, has disappeared from public view, the New York Times reports, after Medici lost investors $2.1 billion in the Bernie Madoff mess. Kohn was a good friend of Madoff’s, and aggressively pushed his wares. She may be hiding out... More »

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Austria • Ponzi scheme • Russian oligarchs • Bernard Madoff • Sonja Kohn • Bank Medici

 Madoff Sought Cash 
 to Keep Scheme Afloat 

Disgraced financier given $250 million by friend to stave off collapse of business

Jan 7, 09 8:33 AM CST
(Newser) - As the feds closed in and Bernard Madoff scrambled to shore up his crumbling firm, a longtime friend gave the disgraced financier $250 million, reports the Wall Street Journal. With investors seeking to redeem $7 billion from the fund, Madoff turned to 95-year-old Carl Shapiro for help, promising a... More »

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Brandeis • Ponzi scheme • securities fraud • Dana-Farber Cancer Institute • Bernard Madoff

 Jail Ruling Looms 
 After Madoff's Bling Gifts 

Prosecutors charge he violated bail by scattering assets

Jan 6, 09 3:38 AM CST
(Newser) - Accused Wall Street swindler Bernard Madoff is enjoying what could be his last hours of luxury inside his palatial $7 million New York apartment after prosecutors demanded his bail be revoked for sending some $1 million in jewelry to family and friends, Reuters reports. Madoff is due in court Thursday... More »

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Wall Street • NASDAQ • SEC • house arrest • bail • Ponzi scheme • securities fraud • Bernard Madoff • US magistrate

(Newser) - Prosecutors are fuming after Bernard Madoff mailed more than $1 million in jewelry to his sons on Christmas Eve, the New York Post reports. The Ponzi schemer was dragged into court today but left under house arrest pending written arguments. Madoff's bail agreement allows such a gift, but an... More »

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fraud • SEC • bail • probe • Ponzi scheme • jewelry • prosecutors • Bernard Madoff

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