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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: Ponzi scheme

Ponzi scheme stories: 247 news summaries

201 - 220 of 247 Stories | << Prev 1 ... 7 8 9 10 11 12 13 Next >>

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SEC Probed Madoff 8 Times, Came Up Empty

Congress questions
watchdog's ability to
keep up with fraud

Jan 5, 09 4:38 AM CST
(Newser) - Congress begins a probe today into why federal regulators who examined Bernie Madoff's investments eight times in 16 years failed to sniff out his decades-long $50 billion Ponzi scheme. Among those in the hot seat is Barack Obama's appointee for SEC chair. Mary Schapiro was involved in several of the... More »

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Congress • Wall Street • SEC • Ponzi scheme • President Obama • Bernard Madoff

ANALYSIS

Madoff Ruse Exploited
Palm Beach's Clubby Ways

Swindler exploited ritzy Palm Beach culture to bilk investors

Jan 3, 09 3:08 PM CST
(Newser) - You have to give it to Bernie Madoff: The Ponzi pirate wasn’t your average fraudster, Daniel Gross observes in Slate. Look no further than Palm Beach, which was "ground zero" of his scheme. Madoff got where he did by “fiendishly exploiting the unique, clubby culture" of the... More »

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Florida • fraud • Ponzi scheme • Palm Beach • investor • Bernard Madoff

Madoff Got $10M Investment Days Before Arrest: Suit

Funds were businessman's first Madoff deal

Jan 3, 09 9:21 AM CST
(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... More »

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fraud • New York • investment • Ponzi scheme • securities fraud • investor • JPMorgan Chase • Bernard Madoff • recession depression

(Newser) - If past fraud cases are a guide, investors rooked by Bernard Madoff will have to wait quite a while to see even a fraction of their initial investments returned, Reuters reports. Court action is notoriously slow, but that’s only half the problem: Recovering money is possible only if it’... More »

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fraud • investors • recovery • Ponzi scheme • litigation • Bayou Group • defrauding investors • Bernard Madoff • Adelphia

Thieves Return Madoff Statue, Lesson Attached

Note suggests 'swindler' return his plunder, too

Jan 1, 09 2:53 PM CST
(Newser) - The thieves who nabbed a $10,000 copper statue from fraudster Bernard Madoff's swank Florida home have returned it, along with this note: "Bernie the Swindler, Lesson: Return stolen property to rightful owners." The advice was penned by "The Educators," whose inspiration may be a German... More »

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Wall Street • capitalism • Ponzi scheme • hoax • art heist • financial crisis • Bernard Madoff

Six Degrees of Kevin Bacon Lead to Madoff

Actor, wife Kyra Sedgwick lost money
in Ponzi scheme

Dec 30, 08 1:28 PM CST
(Newser) - It turns out Kevin Bacon didn’t put enough degrees between himself and Bernie Madoff. Bacon and wife Kyra Sedgwick join Steven Spielberg and Jeffrey Katzenberg on the list of Hollywood denizens duped by the Ponzi schemer, Bacon’s rep confirmed to New York magazine. Rumor has... More »

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fraud • Kevin Bacon • Ponzi scheme • six degrees of separation • Bernard Madoff • recession depression

analysis

Madoff May Have Built
Ponzi Scheme on Charities


Dec 29, 08 7:38 PM CST
(Newser) - How did Bernard Madoff keep his Ponzi scheme going for so long? The answer, if true, will inflame even more public rage: He relied on charities, Mitchell Zuckoff writes on CNNMoney. Ponzi schemes often run dry when investors withdraw en masse, but foundations are legally required to spend only... More »

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charity • Ponzi scheme • Bernard Madoff • foundations

 Tables Turn:
 Madoff Gets
 Ripped Off 

Thieves rip-off investment fraudster

Dec 28, 08 7:19 PM CST
(Newser) - In a bit of poetic justice, a thief stole an expensive statue from the Palm Beach estate of Bernard Madoff last week, the New York Post reports. Burglars took a $10,000 copper statue depicting two lifeguards from the fraudster accused of losing $50 billion of investors’ money in a... More »

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fraud • theft • statue • Ponzi scheme • Palm Beach • investor • defrauding investors • Bernard Madoff

 Madoff May 
 Plead Insanity 

Sources say attorneys are considering multiple personality disorder argument

Dec 28, 08 3:56 PM CST
(Newser) - You'd have to be a little bit crazy to cook up a $50 billion Ponzi scheme, but Bernard Madoff’s lawyers are exploring taking things a bit further with an insanity defense. “They may even say he has a multiple personality disorder,” a source tells the New York ... More »

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crime • gossip • plea • insanity • Ponzi scheme • Bernard Madoff

Benjamin Button Writer Sues Over Madoff Losses

'I'm a sucker,' says Roth

Dec 28, 08 8:53 AM CST
(Newser) - The screenwriter who penned The Curious Case of Benjamin Button is suing his investment manager for losing his life savings in the Bernard Madoff fiasco, reports the New York Post. "I'm the biggest sucker that ever walked the face of the earth," said Eric Roth, 65, who also... More »

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lawsuit • Ponzi scheme • financial irregularities • The Curious Case of Benjamin Button • Bernard Madoff

(Newser) - Government investigators are turning their eye to the middlemen who led clients into Bernard Madoff's long-running Ponzi scheme. The Wall Street Journal profiles five of them:
  • Robert Jaffe: A dashing Florida philanthropist, he funneled tony clients to ex-boss Madoff. Jaffe says he is a "victim of these tragic
... More »

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fraud • Ponzi scheme • financial irregularities • Bernard Madoff • Robert Jaffe • Fairfield Greenwich Group • Stanley Chais • Jeffrey Tucker • Andres Piedrahita • Robert Schulman • feeder

 Madoff's Claim He 
 Acted Alone 'Preposterous' 

Fraud experts say the $50 billion scam was too complicated

Dec 24, 08 9:19 AM CST
(Newser) - Fraud experts following the Bernard Madoff probe say his claim that he alone executed a Ponzi scheme that fleeced investors out of some $50 billion is “preposterous,” reports Reuters. "The amount of transactions, the number of dollars that are involved in the Ponzi, I just don't see... More »

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Wall Street • Ponzi scheme • US Attorney's Office • scandal • Bernard Madoff

Madoff Was Livin' Large in Lap of Luxury

High-roller owns yacht, jets, and properties up and down East Coast

Dec 24, 08 4:12 AM CST
(Newser) - If disgraced money-man Bernard Madoff felt any guilt about his Ponzi-scheme hedge fund, you'd never know it. Now that he's under house arrest, his "lifestyle of the rich and infamous" is somewhat limited, but in a fitting tribute to a man who just fleeced investors of $50 billion, CNN... More »

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Florida • Matt Lauer • hedge fund • jet • Ponzi scheme • French Riviera • yachts • scandal • Ernest Hemingway • apartment • Bernard Madoff

 Madoff Investor Kills Himself 

Hedge fund head who lost $1.4B committed suicide

Dec 23, 08 1:44 PM CST
(Newser) - A hedge fund founder whose firm lost $1.4 billion in Bernie Madoff's Ponzi scheme was found dead in his Manhattan office today, an apparent suicide, reports the New York Times. Rene-Thierry Magon de la Villehuchet, 65, had been trying to recover money for European clients of Access International... More »

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Wall Street • suicide • UBS • hedge fund • Ponzi scheme • Bernard Madoff • recession depression

Conn. Firm Collected $500M From Madoff's Marks

Fairfield Greenwich didn't deliver promised oversight to clients

Dec 22, 08 12:32 PM CST
(Newser) - With its clients having lost $7.3 billion in Bernard Madoff’s Ponzi scheme, a Connecticut hedge-fund advising firm wants the public’s sympathy—but in fact, the Fairfield Greenwich Group took almost $500 million in fees alone from the money Madoff shepherded. And, the New York Times reports, it’... More »

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fraud • Connecticut • hedge fund • investment • Ponzi scheme • hedge funds • Bernard Madoff • Fairfield Greenwich Group

 As Losses Mount, 
 Madoff Son Goes Shopping 

Investment scam doesn't appear to hinder family's holiday spending

Dec 22, 08 12:00 PM CST
(Newser) - Watching investors lose their shirts on Bernard Madoff’s investments didn’t deter his son and daughter-in-law from a holiday shopping spree yesterday, the New York Post reports. Andrew Madoff, who worked for Dad’s failed financial firm, and wife Deborah power-shopped SoHo, snapping up items from J.Crew, Kidrobot,... More »

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fraud • Ponzi scheme • securities fraud • defrauding investors • Bernard Madoff • Andrew Madoff

Outsider Madoff Cultivated
Steady Image

Accused scamster made exclusivity his scheme's selling point

Dec 20, 08 8:33 AM CST
(Newser) - Bernard Madoff rose to fame and fortune as one of America's top financial insiders but he never stopped acting like an outsider, associates tell the Wall Street Journal. Despite his reputation as outgoing "Uncle Bernie," the disgraced financier was often ill at ease socially and could be brusque... More »

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fraud • Ponzi scheme • securities fraud • defrauding investors • Bernard Madoff

Madoff Now Under 24-Hour House Arrest

Risk of 'harm or flight' lands guards outside accused's NYC pad

Dec 19, 08 5:32 PM CST
(Newser) - A New York judge placed accused fraudster Bernard Madoff under 24-hour arrest today, Bloomberg reports; a private security firm will also keep watch on his Upper East Side apartment after federal officials said there was a risk of “harm or flight.”  Madoff’s attorney would not say... More »

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scam • house arrest • Ponzi scheme • Bernard Madoff

Connecticut Firm Helped Madoff Go Global

Fairfield Greenwich says it didn't know about improper dealings, had $7.5B invested

Dec 19, 08 1:24 PM CST
(Newser) - As Bernard Madoff’s financial network comes under scrutiny, one investment fund is emerging as an especially close partner, the Wall Street Journal reports. Fairfield Greenwich had $7.5 billion invested with Madoff, more than half the group’s total assets as of Nov. 1. There’s no evidence Fairfield... More »

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fraud • SEC • Ponzi scheme • Bernard Madoff • Fairfield Greenwich Group

Madoff Crony Harangued at Tony Fla. Club

Jaffe nearly fights with furious bilked investor
at black-tie bash

Dec 19, 08 11:52 AM CST
(Newser) - Bob Jaffe, who recruited many of the marks for Bernard Madoff’s $50 billion fraud operation, got an earful after showing up last weekend at a Palm Beach party brimming with Madoff’s victims, a source tells the New York Post. When one saw Jaffe, “it nearly came to... More »

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fraud • Donald Trump • party • Ponzi scheme • Palm Beach • defrauding investors • Bernard Madoff

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