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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: Ponzi scheme

Ponzi scheme stories: 247 news summaries

61 - 80 of 247 Stories | << Prev 1 2 3 4 5 6 7 8 ... 13 Next >>

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ANALYSIS

 No Cushy 'Camp Fed' for Madoff 


Jun 30, 09 12:49 PM CDT
(Newser) - Bernard Madoff’s high profile and long sentence will likely land him in a medium- or high-security prison, Bloomberg reports. Though previous white-collar criminals have spent terms at federal prison “camps,” any sentence longer than 10 years makes an inmate ineligible for that cushy treatment. Insiders also say... More »

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federal prison • Bureau of Prisons • Ponzi scheme • penitentiary • life sentence • Bernard Madoff • solitary confinement • prison camp

10 More to Be Charged
in Madoff Scam

Source: Disgraced financier may get plenty of company during his century-and-half inside

Jun 30, 09 2:44 AM CDT
(Newser) - At least ten more people are likely to be charged as the probe into Bernard Madoff's massive fraud continues, an insider tells AP. The only other person charged so far has been Madoff's accountant. The source declined to say whether the other people likely to face federal charges are relatives... More »

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Ponzi scheme • defrauding investors • Bernard Madoff • Bernard L. Madoff Investment Securities

Ruth Madoff: 'Not a Day Goes By When I Don't Ache'

Bernie's wife releases statement on Ponzi schemer

Jun 29, 09 12:34 PM CDT
(Newser) - Ruth Madoff said in a statement today she’s “embarrassed and ashamed” of her husband’s crime, the Wall Street Journal reports—and anyone who believes she’s shown “indifference or lack of sympathy” in her silence has perceived “exactly the opposite of the truth.” “... More »

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Ponzi scheme • statement • Bernard Madoff • Ruth Madoff

(Newser) - A federal judge threw the book at Bernie Madoff today, sentencing him to 150 years in prison, the maximum allowed by law in the $65 billion scam. He called Madoff’s crimes “staggering,” and chided him for not doing all he could to help investigators. He added that... More »

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sentencing • Ponzi scheme • life sentence • Bernard Madoff

(Newser) - The receiver in the R. Allen Stanford case wants seven current and former baseball stars to turn over millions they once invested in Stanford’s alleged Ponzi scheme, intending to divvy up the money among Stanford’s other victims, the Washington Times reports. He’s asking for a combined... More »

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MLB • Andruw Jones • Greg Maddux • Johnny Damon • J.D. Drew • Ponzi scheme • baseball • Carlos Pena • receivership • Robert Allen Stanford • Jay Bell • Bernie Williams

How Will Ruth Madoff Survive on Just $2.5M?

With $125K to spend yearly, time to trade in the pair of Mercedes

Jun 29, 09 8:18 AM CDT
(Newser) - With just $2.5 million at her disposal as her husband heads to jail, Ruth Madoff won't exactly be sentenced to penury, but she'll have to cut her annual expenses to the low six figures if she wants it to last her lifetime, reports Brett Arends of the Wall Street ... More »

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Florida • fraud • crime • Manhattan • lifestyle • federal prison • settlement • Ponzi scheme • Bernard Madoff • Ruth Madoff

Where's the
Money, Bernie?


Jun 29, 09 4:21 AM CDT
(Newser) - Investigators have only recovered $1.2 billion of the $13.2 billion bilked from investors by Bernard Madoff since 1995, reports the Wall Street Journal. Eligible victims may be compensated up to $500,000 by the Securities Investor Protection Corp., but the rest will have to come from whatever investigators... More »

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Manhattan • investors • sentencing • Ponzi scheme • defrauding investors • Bernard Madoff • Ruth Madoff

(Newser) - Ruth Madoff struck a deal with federal prosecutors today to forfeit nearly $80 million in assets and retain only $2.5 million in cash, the Wall Street Journal reports. The wife of swindler Bernard Madoff reached the agreement with the US attorney's office in Manhattan. Meanwhile, a US judge entered... More »

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Ponzi scheme • asset forfeiture • Bernard Madoff • Ruth Madoff

(Newser) - Vijay Singh is sticking by embattled buddy and alleged swindler R. Allen Stanford. The star golfer, who's been sporting the Stanford Companies logo even though he no longer gets paid to do so, offered to put up $500,000 of the billionaire’s bail, reports CNBC. He was denied the... More »

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golf • crime • Vijay Singh • bail • Ponzi scheme • bank fraud • endorsement • federal prosecution • Robert Allen Stanford

Stanford Pleads
Not Guilty in $7B
Ponzi Scheme

Prosecutors call financier flight risk, ask he be held without bail

Jun 25, 09 12:01 PM CDT
(Newser) - Financier Robert Allen Stanford and three former associates pleaded not guilty today to federal charges they operated a $7 billion Ponzi scheme out of Antigua, the Houston Chronicle reports. Prosecutors asked the judge not to release Stanford, 59, on bail, saying his wealth, international connections and prospect of a long... More »

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crime • trial • Antigua • Ponzi scheme • Robert Allen Stanford • Stanford Bank

 Ruth Madoff Rides Subway 

Ponzi schemer's wife blames paps, of all people, for ruining her life

Jun 25, 09 10:35 AM CDT
(Newser) - Ruth Madoff’s life has hit a new low—literally. It's subterranean: The New York Post spotted her on the subway yesterday, seated directly underneath an ad promoting 99-cent cellphones. The disgraced financier's wife, with gray-streaked hair and distinctly unfashionable attire, was not happy with the photographer, asking, “... More »

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subway • New York • Ponzi scheme • New York Subway • Bernard Madoff • Ruth Madoff

(Newser) - At least one person looks to have benefited more from Bernie Madoff’s Ponzi scheme than Bernie Madoff, ProPublica reports. Jeffry Picower, a secretive philanthropist and investor in medical technologies, is on the books as having withdrawn some $5.1 billion in returns from 1995 to 2008, well beyond his... More »

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philanthropy • Ponzi scheme • defrauding investors • Bernard Madoff • charitable giving • return on investment • Jeffry Picower • Picower Foundation • medical technology

 Madoff Lawyer: 
 12 Years Is Enough 

Sorkin says court must resist 'mob vengeance'

Jun 23, 09 11:02 AM CDT
(Newser) - Bernard Madoff’s lawyer says his client shouldn’t be jailed for life for his $65 billion Ponzi scheme, Reuters reports, urging the sentencing judge in a letter not to heed calls from victims for “mob vengeance.” A 12-year sentence would be enough, though 15-20 years wouldn’t... More »

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court • Ponzi scheme • sentence • life sentence • Bernard Madoff • letter • Ira Sorkin

(Newser) - Alleged billionaire fraudster Robert Allen Stanford and six of his associates were indicted today on charges that they ran a $7 billion Ponzi scheme, the AP reports. Stanford turned himself in to authorities yesterday. “A fair jury will find him not guilty of any criminal wrongdoing,” Stanford’s... More »

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Department of Justice • SEC • billionaire • Antigua • Ponzi scheme • federal indictment • bank fraud • Stanford Financial Group • Robert Allen Stanford • Securities and Exchange Commission

 Stanford Surrenders to FBI 

Alleged fraudster turns himself in after grand jury hands down criminal charges

Jun 19, 09 12:26 AM CDT
(Newser) - Sir Robert Allen Stanford turned himself in to authorities soon after criminal charges were filed against him yesterday, the BBC reports. The billionaire financier is now in FBI custody, according to his lawyer. Stanford, whose firm Stanford Financial was shut down by authorities earlier this year, already faces civil charges... More »

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fraud • Ponzi scheme • defrauding investors • Stanford Financial Group • Robert Allen Stanford

ANALYSIS

For Ruth Madoff, Prison Is a 2-Story Condo

Disowned by sons, Bernie's wife gets cold shoulder in NYC

Jun 13, 09 2:40 PM CDT
(Newser) - Behind every disgraced financier is a disgraced wife, but the public reaction to Ruth Madoff has been especially withering, Lynnley Browning writes in the New York Times. While the wives of other swindlers have reinvented themselves, Mrs. Madoff—scorned by her hairdresser, florist, and sons—has not tried to restore... More »

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New York • Ponzi scheme • Bernard Madoff • Ruth Madoff

Brits Hit Court to Battle Yanks for Madoff Assets

UK liquidators have already seized $235K Aston Martin

Jun 8, 09 5:51 AM CDT
(Newser) - The Madoff liquidators are turning on each other, reports the Times of London. The trustees handling the London arm of the Ponzi schemer's imploded business recently seized several American assets, including a $235,000 vintage Aston Martin, that were acquired with London money. UK liquidators will argue tomorrow in a... More »

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bankruptcy • Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities • Irving Picard • Madoff Securities International

Madoff Yanked $165M from London Branch Just Before Bust

Cash transferred to scammer vanished

Jun 7, 09 7:20 AM CDT
(Newser) - A month before he came clean on his Ponzi scheme, Bernie Madoff sold $165 million in UK bonds from his London office and the money disappeared, the Independent reports. Madoff ordered a director of the London arm to transfer the money to his New York office so Madoff could use... More »

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London • bonds • Britain • Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities

Madoff 'Staged the Whole Thing': Secretary

With nerves fraying, Ponzi schemer 'chose to get arrested'

May 22, 09 11:33 AM CDT
(Newser) - Bernie Madoff’s secretary thinks he staged his own arrest. “Bernie was never careless,” Eleanor Squillari writes in Vanity Fair. “He set up exactly how he wanted to go down.” Madoff began acting strangely weeks before the arrest, writing odd things in his appointment book.... More »

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Ponzi scheme • Bernard Madoff • Eleanor Squillari

Hsu Guilty of Squeezing Donors for Campaign Cash

Big Hillary fundraiser faces up to 20 years

May 19, 09 11:28 AM CDT
(Newser) - Ponzi schemer and Democratic fundraiser Norman Hsu has been convicted of campaign finance fraud after two days of jury deliberations, the Wall Street Journal reports. Prosecutors said Hsu had pushed his investors to donate tens of thousands to his chosen political candidates, including Hillary Clinton, between 2004 and 2007. Hsu... More »

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Hillary Clinton • fraud • campaign finance • Norman Hsu • Ponzi scheme • guilty verdict

61 - 80 of 247 Stories | << Prev 1 2 3 4 5 6 7 8 ... 13 Next >>


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