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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: Ponzi scheme

Ponzi scheme stories: 247 news summaries

121 - 140 of 247 Stories | << Prev 1 ... 3 4 5 6 7 8 9 10 11 ... 13 Next >>

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 Madoff Accountant Faces 
 105 Years for Fraud 

He signed off on false books for years: feds

Mar 18, 09 12:26 PM CDT
(Newser) - Bernard Madoff's longtime accountant has been arrested and charged with securities fraud in the $64 billion Ponzi scheme, the New York Post reports. David Friehling, 49, is accused of helping Madoff dupe his investors and the Securities and Exchange Commission by filing fake audits. Friehling allegedly received $186,000 annually... More »

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fraud • Ponzi scheme • Ruth Madoff • Bernard L. Madoff Investment Securities • Securities and Exchange Commission • David Friehling

Jailed Boy-Band Schemer Plots Reality Show

It's 'Making the Band meets Charlie's Angels meets Bernie Madoff'

Mar 18, 09 9:00 AM CDT
(Newser) - Even from jail, boy-band creator-slash-Ponzi schemer Lou Pearlman is all about the spotlight. The ‘N Sync and Backstreet Boys founder is plotting a reality show he can star in from behind bars, the New York Daily News reports. “It essentially would feature Lou's disembodied voice on a speakerphone,... More »

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reality TV • jail • Ponzi scheme • N'Sync • boy bands • Lou Pearlman • Backstreet Boys

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

US seeks payback
of loans, along with gems, cufflinks

Mar 17, 09 8:16 PM CDT
(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... More »

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Ponzi scheme • jewelry • defrauding investors • Bernard Madoff • Ruth Madoff • Bernard L. Madoff Investment Securities • Andrew Madoff • Mark Madoff

Madoff, Stanford Victims Can Get Break From IRS

Taxpayers may deduct up to 95% of Ponzi losses: commissioner

Mar 17, 09 12:35 PM CDT
(Newser) - Victims of Ponzi schemes—including those perpetrated by Bernard Madoff and R. Allen Stanford—can claim big deductions on their taxes, the IRA commissioner told lawmakers today. The matter, unclear in the tax code, had been a concern for victims, the New York Times reports. The IRS “is issuing... More »

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taxes • IRS • Ponzi scheme • tax policy • Bernard Madoff • Robert Allen Stanford

(Newser) - Federal investigators are scrambling "around the clock" to freeze Ruth Madoff's $93 million in assets before it disappears, sources told the New York Post. "The US attorneys will tell a judge in the next week or so that they believe Mrs. Madoff's assets are derived from ill-gotten gains... More »

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scam • Ponzi scheme • Bernard Madoff • Ruth Madoff

 Madoff Lists $826M in Assets 

List reveals couple's homes, cash, luxury goods mostly in Ruth's name

Mar 14, 09 6:52 AM CDT
(Newser) - A list of the Madoffs' assets released yesterday falls a long way short of the tens of billions investors and prosecutors are looking for, the Wall Street Journal reports. A $700 million valuation for Bernard Madoff's investment business made up the bulk of the roughly $826 million in assets listed,... More »

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Ponzi scheme • securities fraud • asset forfeiture • Bernard Madoff • Ruth Madoff • Bernard L. Madoff Investment Securities

(Newser) - As dastardly as Bernard Madoff’s scam was, it’s hard not to pin some blame on the victims themselves, Joe Nocera writes in the New York Times. They shouldn’t have put all their eggs in one basket, no matter how promising it seemed: “Diversification has many virtues;... More »

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Ponzi scheme • defrauding investors • Bernard Madoff • Securities and Exchange Commission

 Lawyer: Send Madoff Home  


Mar 13, 09 3:38 PM CDT
(Newser) - Bernard Madoff's lawyers appeared in court today to ask that the confessed Ponzi schemer be returned to his $7 million penthouse to await June sentencing on fraud charges. Federal prosecutors must now file a response and await an appeals court ruling, meaning the 70-year-old felon will spend at least the... More »

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fraud • Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities • Ira Sorkin • Denny Kim

Ponzi Victims Will Be
Tax Nightmare for IRS

Service expects to refund $7-$10 billion in taxes paid on fake income

Mar 13, 09 12:06 PM CDT
(Newser) - The work of fraudsters such as Bernie Madoff and R. Allen Stanford will complicate the IRS’ job as tens of the thousands of victims attempt to reclaim taxes paid on income that went up in smoke, Time reports. The IRS estimates that refunds due victims to Madoff alone could total... More »

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fraud • taxes • IRS • securities • Ponzi scheme • investment fund • tax refunds • Bill Maher Grid

(AP) - Bernie Madoff's new Manhattan home is the size of a walk-in closet, with cinderblock walls, linoleum floors, and a bunk bed. Breakfast will be served before sunrise, and the disgraced financier can stretch his legs outside, but only every other day—in a cage. The Metropolitan Correctional Center took in... More »

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prison • guilty • Ponzi scheme • defrauding investors • Bernard Madoff • Bernard L. Madoff Investment Securities • Bill Maher Grid

opinion

 Life? Nah. Make 
 Him Work at SEC 


Mar 12, 09 5:23 PM CDT
(Newser) - Now that Bernie Madoff is guilty, it’s time to talk sentencing. CNBC hosted a contest to come up with the most inventive one for the disgraced financier, and the winner is: working for the SEC, "catching people just like him." But that doesn’t mean the other... More »

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crime • contest • guilty plea • Ponzi scheme • scandal • securities fraud • sentence • Bernard Madoff • Bill Maher Grid

ANALYSIS

Madoff Case Likely to Sour Boomers on Stocks

Fraud is final straw after terrible performance, analysts say

Mar 12, 09 1:47 PM CDT
(Newser) - With Bernard Madoff’s long, fraudulent story drawing to a close, stock-market analysts look to the larger effect the $50 billion Ponzi scheme will have on equities, Kate Gibson writes for MarketWatch. Combined with the dismal performance in stocks over the last year, experts say Madoff’s deception has probably... More »

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investing • stock market • baby boomer • equity • securities • Ponzi scheme • Bernard Madoff

(Newser) - The next big question for Bernie Madoff: Just how bad will prison be? It’s unlikely the disgraced financier will get cushy Club Fed accommodations, CNNMoney reports. Ed Bales, a consultant who prepares inmates for jail, says such facilities were shut down years ago. But Madoff can take heart, he... More »

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fraud • prison • federal prison • Ponzi scheme • Bernard Madoff

Madoff Profiteers Scramble From Threat of Clawbacks

New York law allows those who lost money to reclaim from those who gained

Mar 12, 09 10:40 AM CDT
(Newser) - The threat that authorities will seek to recoup profits reaped through their investments in Bernard Madoff’s Ponzi scheme have some investors hurrying to put those funds in hard-to-reach places, the Wall Street Journal reports, like homes, trusts or life-insurance policies. So-called “clawback” lawsuits could allow those who were... More »

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profits • lawsuit • Ponzi scheme • defrauding investors • Bernard Madoff • Bernard L. Madoff Investment Securities • clawback • Bill Maher Grid

(Newser) - Bernard Madoff pleaded guilty this morning to all 11 felony charges against him, saying he was "sorry and ashamed" for his criminal acts. The judge accepted the plea and revoked Madoff's bail, bringing cheers from spectators in the courtroom. Madoff was escorted out in handcuffs and will remain in... More »

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fraud • New York City • perjury • guilty plea • plea • Ponzi scheme • securities fraud • courthouse • Bernard Madoff • Bill Maher Grid

Madoff Laundered Money Overseas: Feds

Fraud extended to London, US says

Mar 12, 09 7:50 AM CDT
(Newser) - At least a quarter-billion dollars of client funds passed through Bernard Madoff's London operation in money-laundering maneuvers that involved the trading operation as well as the firm's investment-advisory arm, the US government alleges. Madoff's sons, who have denied involvement in the Ponzi scheme in which their father is about to... More »

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London • felony • money laundering • Ponzi scheme • Bernard Madoff • Ruth Madoff • Bernard L. Madoff Investment Securities

Court May Tell Madoff to Go Directly to Jail

Ponzi master to plead guilty today, bail could be revoked

Mar 12, 09 6:19 AM CDT
(Newser) - Bernie Madoff will head to court today to plead guilty to all 11 charges against him, and there’s every chance he won’t be going home afterward, the New York Times reports. The big question hanging over today’s hearing is whether the court will revoke Madoff’s... More »

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fraud • jail • guilty plea • bail • Ponzi scheme • Bernard Madoff

Madoff Family Members May Face Charges

Feds investigating 20 others; 'he's jerking everyone around'

Mar 10, 09 9:51 PM CDT
(Newser) - Bernie Madoff's guilty plea Thursday won't be the end of the story, the Daily Beast reports. The feds are investigating 20 possible co-conspirators, including family members, writes Lucinda Franks. Madoff wants to preserve money for his wife and kids, and keep them out of trouble. But sources say that several... More »

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money laundering • Ponzi scheme • defrauding investors • Bernard Madoff • Ruth Madoff • Bernard L. Madoff Investment Securities

(AP) - Bernard Madoff's lawyer told a judge today his client will plead guilty later this week to 11 counts including money laundering, perjury and securities, mail and wire fraud. Prosecutors say the disgraced money manager will face up to 150 years in prison on the charges. More »

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Federal Court • money laundering • perjury • guilty plea • wire fraud • Ponzi scheme • attorney • securities fraud • conflict of interest • Bernard Madoff • mail fraud • Bill Maher Grid

(AP) - Disgraced money manager Bernard Madoff emerged from seclusion today to confront a potential conflict of interest in his massive fraud case: a $900,000 investment by his lawyer's sons. Prosecutors asked the judge to rule on the conflict to clear the way for another highly anticipated proceeding Thursday, when Madoff... More »

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Federal Court • lawyer • Ponzi scheme • scandal • securities fraud • conflict of interest • Bernard Madoff • Ira Sorkin

121 - 140 of 247 Stories | << Prev 1 ... 3 4 5 6 7 8 9 10 11 ... 13 Next >>


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