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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: Ponzi scheme

Ponzi scheme stories: 244 news summaries

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(AP) - Sex and scandal have not been enough to make major sellers out of books about Bernard Madoff. According to Nielsen BookScan, neither a much-discussed tell-all by alleged ex-mistress Sheryl Weinstein nor a recent wave of biographies about the imprisoned financier have caught on with the public. Weinstein's Madoff's Other Secret,... More »

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Ponzi scheme • scandal • Amazon • Bernard Madoff • Jerry Oppenheimer • Sheryl Weinstein • Erin Arvedlund • Gerard Strober • Deborah Strober • Andrew Kirtzman

(Newser) - The SEC's inspector general says the agency had plenty of chances to take down Bernie Madoff and whiffed on every one, Bloomberg reports. In a report released today, H. David Kotz writes that the SEC received "detailed and substantive complaints over the years to warrant a thorough and comprehensive... More »

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SEC • Christopher Cox • Ponzi scheme • Inspector General • Bernard Madoff • Mary Schapiro • Harry Markopolos • Securities and Exchange Commission • regulatory body • H. David Kotz

 Madoff's $8.75M Beach House Not All That

Marshals Service puts property up for sale

Sep 2, 09 9:25 AM CDT
(AP) - Those who see Bernard Madoff as an evil purveyor of excess might be disappointed by his beach house: It's not that palatial. At 3,014 square feet, the home is cottage-size by super-rich standards. There's no garage. Not even a walk-in closet. But the 1.2-acre lot sits closer to... More »

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real estate • Ponzi scheme • Hamptons • U.S. Marshals Service • Bernard Madoff

Trustee Set to Gouge
Madoff's Sons, Brother

May ask for $50M of clients' cash back

Sep 2, 09 7:32 AM CDT
(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... More »

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scam • Ponzi scheme • civil lawsuits • Bernard Madoff • Peter Madoff • trustee • Andrew Madoff • Mark Madoff

Madoff-Burned Owners
Must Sell Mets: Author

Mets call remark 'completely irresponsible'

Aug 28, 09 2:23 PM CDT
(Newser) - The Wilpon family will have to sell the New York Mets after losing $700 million to Bernie Madoff's Ponzi scheme, according to an author who wrote about the money manager. “It's possible they would have to sell by next year,” says Erin Arvedlund, author of Too Good to ... More »

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New York Mets • franchise • Ponzi scheme • baseball • Bernard Madoff • team • Fred Wilpon • Erin Arvedlund

 Stanford 'Fraud 
 Scheme Sealed 
 With Blood Oath' 

Banker accused of giving bribes, Super Bowl tickets to Caribbean regulator

Aug 28, 09 6:13 AM CDT
(Newser) - Alleged Ponzi schemer Allen Stanford cut his wrist and made a secret blood pact with the banking regulator of the island of Antigua, where his bank operated, according to court documents. Stanford and the official pressed their bloody wrists together in a "brotherhood ceremony," after which the... More »

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fraud • SEC • conspiracy • Antigua • Ponzi scheme • bank fraud • bank regulation • Robert Allen Stanford

 Madoff Lover Still 
 Talking About Tiny Penis 

Oh, and forget about her being in the clear—Weinstein says she 'had to know'

Aug 27, 09 8:18 AM CDT
(Newser) - Sheryl Weinstein is still expounding on Bernie Madoff’s “not very large” penis, most recently to Cindy Adams of the New York Post. “It was narrow,” she says. “Tiny in terms of girth, not length.” Still, he somehow convinced scores of women to sleep... More »

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crime • sex • affair • penis • Ponzi scheme • extramarital affair • Bernard Madoff • Ruth Madoff • Bernard L. Madoff Investment Securities • Sheryl Weinstein

(Newser) - Contrary to what you might have read in the New York Post, Bernie Madoff does not have cancer, Bloomberg reports. “While the N.Y. Post story is full of inaccuracies, and we can’t specifically address all of them, we can tell you that Bernie... More »

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cancer • New York Post • pancreatic cancer • federal prison • Bureau of Prisons • Ponzi scheme • bank fraud • Bernard Madoff • Ira Sorkin • prison sentence

 Madoff 
 Dying of 
 Cancer: 
 Inmates 

Some speculate this is why he took the fall

Aug 24, 09 9:10 AM CDT
(Newser) - Bernie Madoff may not serve much of his 150-year sentence: The Ponzi schemer is suffering from cancer, fellow inmates tell the New York Post, and has been telling everyone he doesn't have long to live. “He’s been taking about 20 pills a day for his cancer,”... More »

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cancer • prison • jail • pancreatic cancer • Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities

Accounting Firm Faces $2B in Lawsuits in Madoff Scam

PricewaterhouseCoopers Canada slapped with 7 lawsuits

Aug 23, 09 8:04 AM CDT
(Newser) - The Canadian branch of the world’s largest accounting firm is facing seven lawsuits for up to $2 billion on behalf of investors who fell victim to Bernard Madoff, the Telegraph reports. PricewaterhouseCoopers Canada was the auditor of a feeder fund, Fairfield Sentry, that directed cash to the Ponzi schemer.... More »

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accountants • accounting • lawsuit • Ponzi scheme • accounting firm • Bernard Madoff

(Newser) - "When we made love, I was on fire"—that is the frank admission by Bernie Madoff's married mistress in a new tell-all book about their years-long affair. Sheryl Weinstein, who worked for a Jewish women's group and lost her life savings with Ponzi schemer, reveals that she and... More »

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affair • money management • Ponzi scheme • Bernard Madoff • Sheryl Weinstein

I Had an Affair With Madoff:
Accountant

Zionist group's CFO, bankrupted by Ponzi schemer, writes tell-all

Aug 13, 09 9:38 AM CDT
(Newser) - An accountant says Bernie Madoff didn’t just steal her money, he stole the shirt—and various other articles of clothing—right off her back. In her upcoming book Madoff’s Other Secret: Love, Money, Bernie, and Me, Sheryl Weinstein, former CFO of Hadassah, the Women’s Zionist Organization... More »

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sex scandal • book • Ponzi scheme • extramarital affair • Bernard Madoff • book deal • Sheryl Weinstein

whistleblower speaks

 Get Ready 
 for Bigger, 
 Badder Bernies 

Ponzi schemer will soon look small-time

Aug 12, 09 8:32 AM CDT
(Newser) - If you think you’re mad at Bernie Madoff, just wait. Harry Markopolos, who blew the whistle on Madoff, says there are more baddies out there who will make good ol’ Bernie “look like small time.” While speaking at a Southampton church, the fraud investigator predicted scandals related... More »

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fraud • Ponzi scheme • credit default swap • Bernard Madoff • Harry Markopolos • Bernard L. Madoff Investment Securities

(Newser) - Investigators see yesterday's guilty plea of Bernard Madoff's right-hand man as a major breakthrough in their efforts to untangle the elaborate Ponzi scheme, BusinessWeek reports. Frank DiPascali, chief financial officer at Madoff's firm, has promised to cooperate with prosecutors and is expected to name other people involved in the scam... More »

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Ponzi scheme • securities fraud • witness • defrauding investors • Bernard Madoff • Bernard L. Madoff Investment Securities • Frank DiPascali

Madoff Aide Pleads Guilty, Will Help Prosecutors

DiPascali will get
time off his 125 years

Aug 11, 09 5:44 PM CDT
(Newser) - Bernie Madoff's right-hand man pleaded guilty to a slew of fraud charges today and agreed to help prosecutors unravel how the multi-billion-dollar Ponzi scheme worked, the Wall Street Journal reports. In return, Frank DiPascali, 52, will get time shaved off his potential sentence of 125 years. DiPascali began working for... More »

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fraud • Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities • Frank DiPascali

SEC Did Grill Madoff...About Whether He Was Hiring

Young, inexperienced investigators awed, missed signs of Ponzi scheme

Aug 11, 09 8:59 AM CDT
(Newser) - Bernie Madoff got nervous every time SEC investigators came around, but he shouldn't have: A new book claims the regulators were so green they were awestruck by Madoff—and even asked about job openings and dropped off resumes, the New York Post reports. “They’d send kids. I... More »

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Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities • regulator • Securities and Exchange Commission

(Newser) - Ruth Madoff won't be able to spend $100 without scrutiny under a deal approved by a bankruptcy judge overseeing the liquidation of her husband's financial firm, the Wall Street Journal reports. Madoff agreed to give a full accounting of her income and any spending over $100 to a court-appointed trustee... More »

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Ponzi scheme • securities fraud • defrauding investors • Bernard Madoff • Ruth Madoff • Irving Picard

 Trustee Sues 
 Ruth Madoff 
 for $44M 

Bankruptcy trustee says fraudster's wife received more than she'll admit to

Jul 29, 09 4:14 PM CDT
(Newser) - The trustee in the Bernie Madoff case sued the swindler's wife today to demand the return of $44 million to bilked investors, Newsday reports. The complaint doesn't allege criminal activity by Ruth Madoff but says she directly received funds from her husband’s multi-billion-dollar Ponzi scheme. Ruth Madoff gave up... More »

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fraud • lawsuit • Ponzi scheme • investment fund • defrauding investors • Bernard Madoff • Ruth Madoff

Madoff: I Can't Believe They Didn't Catch Me

Gives first prison interview, and he's looking a little buff

Jul 28, 09 8:30 PM CDT
(Newser) - Prison life appears to be agreeing with Bernie Madoff. A lawyer who represents victims met with Madoff today and said he appears fit. "He looked pretty good and seems to be working out," said attorney Joseph Cotchett. "He looked a lot better than he has in some... More »

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fraud • Ponzi scheme • Bernard Madoff • Ruth Madoff • Peter Madoff • Andrew Madoff • Mark Madoff

Jailed Financier Stanford Wants Cell With Better A/C

Alleged fraudster files a motion to move to cushier Houston jail

Jul 28, 09 2:15 PM CDT
(Newser) - Accused financier R. Allen Stanford is demanding he be moved from his current jail to a nicer facility in Houston, on grounds that his current cell is not comfortable enough, the New York Post reports. Stanford, charged with swindling investors out of $7 billion, complained through his lawyer that the... More »

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fraud • prison • crime • Ponzi scheme • investor • defrauding investors • Robert Allen Stanford

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