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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: defrauding investors

defrauding investors stories: 54 news summaries

41 - 54 of 54 Stories | << Prev 1 2 3

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(Newser) - SEC regulators are investigating whether Bernard Madoff's wife helped him cook the books in his $50 billion fraud scheme, Bloomberg reports. Investigators say that Ruth Madoff's name has shown up on transactions and that she may have helped track payments and keep secret records. Ruth, 67, has not been charged,... More »

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Wall Street • Ponzi scheme • defrauding investors • Bernard Madoff • Ruth Madoff

Middlemen
Lose Billions in Madoff Fraud

Hedge funds that sold access to Ponzi
scheme face collapse

Dec 17, 08 8:41 AM CST
(Newser) - Last week Walter Noel was a successful hedge fund manager, with houses from Connecticut to the Caribbean and an adulatory photo shoot in Vanity Fair. But overnight, when Bernie Madoff's giant Ponzi scheme was exposed, his $14.1 billion firm, Fairfield Greenwich Group, lost more than half its assets. While... More »

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fraud • hedge fund • Ponzi scheme • defrauding investors • hedge funds • Bernard Madoff

Ex SEC Official's Marriage to Madoff Niece Investigated

Fraudster bragged of family ties to SEC

Dec 17, 08 5:15 AM CST
(Newser) - An SEC official dated and later married the niece of confessed fraudster Bernard Madoff, and the agency is investigating the link, reports the Wall Street Journal. Eric Swanson, an SEC director of compliance who left the agency, married Shana Madoff, a compliance lawyer at Madoff's firm, last year, but began... More »

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

SEC Chief
Says His Staff Ignored Madoff Warnings

Cox calls actions 'deeply troubling'

Dec 16, 08 7:51 PM CST
(Newser) - SEC chief Christopher Cox blasted his own agency's failure to detect Bernard Madoff's massive investment-fraud scheme, the Wall Street Journal reports. Cox called it "deeply troubling" that SEC investigators had ignored "credible and specific allegations" dating back to at least 1999. He called on the SEC's inspector general... More »

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Wall Street • SEC • Christopher Cox • Ponzi scheme • defrauding investors • Bernard Madoff

Madoff Victims May Be Able
to Sue Middlemen


Feeder funds could be headed to court

Dec 16, 08 11:45 AM CST
(Newser) - Bernie Madoff victims searching for avenues to recover their money will find their legal options depend on whether they invested directly with Madoff, Time reports, or though middlemen. Those who worked directly with Madoff will have up to $500,000 covered by the federal Securities Investor Protection Corporation. But... More »

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lawsuit • Ponzi scheme • defrauding investors • hedge funds • Bernard Madoff

SEC Under Fire for Flubbing Madoff Warnings

Judge liquidates confessed fraudster's investment firm

Dec 16, 08 10:09 AM CST
(Newser) - The SEC is coming under fire for failing to spot what may be the biggest securities fraud in history, the Washington Post reports. The regulator received repeated warnings from 1999 onwards that Bernard Madoff's investment fund was fishy, but failed to conduct even a routine examination until Madoff blew the... More »

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SEC • hedge fund • Ponzi scheme • auditor • securities fraud • defrauding investors • Bernard Madoff

Vast Madoff Options Scheme Didn't Add Up

SEC unfurls $50B scam that should have been obvious

Dec 16, 08 8:59 AM CST
(Newser) - For every detail that emerges from the 17th-floor office of Bernard Madoff, two more inconsistencies arise. A federal judge ordered the liquidation of Madoff’s eponymous investment firm and a federal agency has begun to try to compensate clients. Meanwhile, scrutiny of clients'  financial statements shows Madoff's stated strategy of... More »

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private equity • trading • stock options • defrauding investors • hedge funds • Bernard Madoff

 Red Flags Didn't Stop 
 Colossal Madoff Fraud 

Steady returns, tiny auditors prompted questions

Dec 13, 08 10:58 AM CST
(Newser) - Bernard Madoff's investment operation—found this week to be a massive Ponzi scheme that lost as much as $50 billion—raised plenty of red flags over the last decade, the Wall Street Journal reports. As far back as 1999, Madoff’s steady returns in wide-ranging markets seemed unrealistic to some... More »

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Wall Street • SEC • hedge fund • Ponzi scheme • auditor • securities fraud • defrauding investors • Bernard Madoff

Big Names Bilked in $50B
Madoff Fraud

Swindler was money manager of choice in elite circles

Dec 13, 08 5:59 AM CST
(Newser) - Some of America's wealthiest people are finding themselves a lot poorer in the wake of the Bernard Madoff fund scandal, the Wall Street Journal reports. Madoff strived to become known as the investor of choice in elite circles, and counted New York Mets owner Fred Wilpon and GMAC chairman Ezra... More »

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Wall Street • fraud • hedge fund • Ponzi scheme • defrauding investors • Bernard Madoff

Madoff Fraud Will Hit Hedge Funds Hard

$50B Ponzi scheme will stagger funds, send investors to exits

Dec 12, 08 10:20 AM CST
(Newser) - Even as hedge funds face their worst yearly returns ever, they may take another collective $10 billion hit on money invested in Bernard Madoff’s namesake firm, which was revealed to be a giant Ponzi scheme yesterday, Bloomberg reports. Madoff was arrested and charged with fraud after admitting that his... More »

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private equity • Ponzi scheme • defrauding investors • hedge funds • financial meltdown • Bernard Madoff

Top Broker Collared for Running $50B Ponzi Scheme

FBI arrests Bernard Madoff; SEC on trail

Dec 11, 08 8:28 PM CST
(Newser) - The FBI has arrested a giant among Wall Street brokers and charged him with bilking his investors of up to $50 billion, the Wall Street Journal reports. Federal agents busted Bernard L. Madoff, a former NASDAQ chaiman, after he admitted to employees that his investment advisory business was a "... More »

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Wall Street • FBI • NASDAQ • corruption • SEC • Ponzi scheme • defrauding investors • Bernard Madoff

Hedge Fund Fraud Missing; Suicide Possible

Car on NY bridge belonged to exec due yesterday in prison

Jun 10, 08 2:23 PM CDT
(Newser) - Police aren't ruling out suicide as a New York hedge-fund manager due to begin serving a 20-year prison term yesterday remains missing, the Wall Street Journal reports. Police found Samuel Israel's car parked near a bridge over the Hudson, with “Suicide is painless” written in dust on the hood. More »

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suicide • fraud • hedge fund • white collar crime • Samuel Israel • Bayou Group • defrauding investors

Robert Vesco, Rogue Financier, Dies in Cuba

Fugitive from justice, fraudster died in November in Havana

May 6, 08 6:47 AM CDT
(Newser) - Robert Vesco, the American financier who fled the country amid accusations that he had swindled $200 million from unsuspecting investors, died in Havana last November, according to a relative. Vesco, who died at 71, had lived in Cuba since the 1980s and had served time in jail there for defrauding... More »

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crime • Cuba • Havana • defrauding investors • Robert Vesco

 Hedge Fund Fraud 
 Gets 20 Years 

Samuel Israel denied leniency in $400M investor 'ponzi scheme'

Apr 14, 08 4:45 PM CDT
(Newser) - The founder of defunct hedge fund Bayou Group was given a 20-year prison term today for bilking investors out of more than $400 million, Bloomberg reports. Samuel Israel must also pay $300 million in restitution for masterminding a “ponzi scheme” in which investment returns were paid with new investors’... More »

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fraud • prison • hedge fund • Ponzi scheme • white collar crime • Samuel Israel • Bayou Group • defrauding investors

41 - 54 of 54 Stories | << Prev 1 2 3


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