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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: defrauding investors

defrauding investors stories: 54 news summaries

21 - 40 of 54 Stories | << Prev 1 2 3 Next >>

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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

FBI Arrests
High-Ranking Stanford Exec

Investment officer
faces SEC
obstruction charges

Feb 26, 09 8:09 PM CST
(AP) - FBI agents have arrested the chief investment officer of Stanford Financial Group, accusing Laura Pendergest-Holt of obstructing an SEC fraud investigation. The SEC has been investigating allegations of an $8 billion investment fraud involving Texas billionaire R. Allen Stanford's financial group. Pendergest-Holt, arrested in Houston, will appear in court tomorrow.... More »

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fraud • Texas • billionaire • Ponzi scheme • defrauding investors • Robert Allen Stanford • Securities and Exchange Commission

Feds: Swindlers Blew $500M on Horses, Houses, Teddies

Another day, another fraud casee

Feb 26, 09 4:52 AM CST
(Newser) - A pair of money managers who once co-owned the New York Islanders hockey team have been charged by federal prosecutors with treating $550 million in client investments like their own "personal piggy bank," reports Reuters. Paul Greenwood, 61, and Stephen Walsh, 64, managing general partners of WG Trading... More »

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fraud • money management • Ponzi scheme • New York Islanders • securities fraud • defrauding investors

(Newser) - The trustee liquidating Bernard Madoff’s companies said today the disgraced financier appears not to have purchased any securities for his clients for “perhaps as much as 13 years,” Bloomberg reports. It was “cash in and cash out,” Irving Picard said. "It was all just... More »

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fraud • SEC • Ponzi scheme • defrauding investors • Bernard Madoff • Irving Picard • clawback • Securities Investor Protection Corporation

Stanford Spent Millions to Lobby Congress

$8B scammer's island junkets helped push anti-tax agenda

Feb 18, 09 10:39 AM CST
(Newser) - Billionaire R. Allen Stanford has spent millions of dollars in attempting to enlist high-powered Washington officials in his anti-tax efforts, reports the Wall Street Journal. Stanford’s investment companies spent over $5 million on lobbying, $2 million on campaign contributions, and thousands more on flying members of Congress to the... More »

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fraud • SEC • Charles Rangel • Antigua • Ponzi scheme • Virgin Islands • Gregory Meeks • securities fraud • defrauding investors • Stanford Financial Group • Robert Allen Stanford

OPINION

Fugitive Financier Has $8B Headstart

SEC has slim chance
of finding Stanford,
missing stash

Feb 18, 09 1:48 AM CST
(Newser) - Financier Robert Allen Stanford is now a fugitive and SEC officials don't look any likelier to get their man than his investors do to get their money back, Felix Salmon writes in Portfolio. Regulators have been sniffing around his operations for long enough to ensure he's got a contingency plan... More »

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fraud • SEC • fugitive • Antigua • Ponzi scheme • securities fraud • defrauding investors • Stanford Financial Group • Robert Allen Stanford

Madoff Scam Zaps Key Science Funds

Medical research set back years as bilked charities slash aid

Feb 12, 09 2:23 AM CST
(Newser) - Bernard Madoff's alleged Ponzi scheme is sending shockwaves deep into the worlds of medicine and science as scammed charitable foundations yank funding for key research projects, reports the Wall Street Journal. Experts believe the number of people affected by the scam's impact on health care could run into the millions.... More »

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philanthropy • fraud • medical research • Ponzi scheme • defrauding investors • Bernard Madoff

(Newser) - Today's testimony from the private fraud investigator in the Bernie Madoff case makes one thing clear, writes business blogger Gary Weiss: The Wall Street Journal blew it. Harry Markopolos said editors of the paper blocked a reporter from investigating the case three years ago. Markopolos didn't know why, but he... More »

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Wall Street Journal • SEC • Ponzi scheme • defrauding investors • Bernard Madoff • recession depression

 New York 'Mini-Madoff' Busted 

Cops accuse New York financier of scamming investors out of millions

Jan 27, 09 6:09 AM CST
(Newser) - New York police have busted a financier accused of running a Ponzi scheme, Reuters reports. Nick Cosmo—sentenced to 21 months on swindling charges in 1999—may have bilked investors of up to $380 million through his firm Agape World, which claimed to make high-interest bridge loans, according to authorities.... More »

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fraud • Ponzi scheme • securities fraud • defrauding investors • 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

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 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

GLOSSIES

 Madoff Victims Peddle 
 Jewels to Pay Bills 



Brokers report heavy traffic in heirlooms, other baubles, to recoup losses in investment scandal

Jan 5, 09 12:15 PM CST
(Newser) - Victims of investment scammer Bernard Madoff are selling off the family jewels—and sometimes their houses, too—to stay solvent. Jewelry buyers report steady traffic since the scandal, from a Beverly Hills woman sacrificing a 9-carat diamond to pay her bills to Palm Beach residents unloading more than $250,000... More »

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family jewels • investment • jewelry • losses • defrauding investors • Bernard Madoff

(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

 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

Fund Warned Clients Madoff 'Could Abscond With Assets'

Kingate Global's prospectus highlighted risks associated with Madoff Securities

Dec 23, 08 8:47 AM CST
(Newser) - One of the firms hardest hit by the $50 billion Bernard Madoff fraud warned investors in its prospectus that investing with Madoff was risky, saying explicitly that the brokerage “could abscond with those assets,” the Financial Times reports. Kingate Global told investors that they would not check the... More »

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private equity • investors • defrauding investors • 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 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

As End Neared, Madoff Shook Down Friends

Desperate for cash, Bernie promoted new funds, begged partners

Dec 18, 08 9:51 AM CST
(Newser) - As his fraudulent fund was sinking, a desperate Bernard Madoff demanded friends and investors pour in more cash, the New York Post reports. Carl Shapiro, the first person to invest with Madoff, got a call, as did his son-in-law, and close Madoff friend Robert Jaffe. Shapiro is reportedly among the... More »

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fraud • investors • defrauding investors • Bernard Madoff • Carl Shapiro • Robert Jaffe

21 - 40 of 54 Stories | << Prev 1 2 3 Next >>


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