Skip to: Content
Skip to: Site Navigation
Skip to: Search
MONDAY, NOVEMBER 23, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: asset forfeiture

asset forfeiture stories: 7 news summaries

(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 »

MORE ABOUT:
Ponzi scheme • asset forfeiture • Bernard Madoff • Ruth Madoff

Judge Okays Bankruptcy for Bernie Madoff

Makes personal assets more easily available to victims

Apr 11, 09 7:56 AM CDT
(Newser) - Bernard Madoff’s victims can force him into bankruptcy and seek any assets that weren’t proceeds of his crimes, a federal judge ruled today, over objections from federal prosecutors, the SEC, and the trustee overseeing the bankruptcy of Madoff’s firm. The judge ruled that bankruptcy had the best... More »

MORE ABOUT:
bankruptcy • asset forfeiture • Bernard Madoff • Securities and Exchange Commission

 France Will 
 Battle US 
 for Madoff 
 Chateau 

Rival prosecutors preparing to grab Riviera pad

Mar 24, 09 9:00 AM CDT
(Newser) - A legal tug-of-war is getting underway over the Madoffs' Riviera chateau, reports the New York Post. Bernard and Ruth Madoff's $1 million French pad is among the assets US federal prosecutors want the couple to forfeit to help reimburse scammed investors, but French authorities—who have opened a criminal inquiry... More »

MORE ABOUT:
France • Ponzi scheme • French Riviera • asset forfeiture • 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 »

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

Texas Cops Accused of Racist Highway Robbery

Black motorists given the choice of handing over property or facing felony charges

Mar 11, 09 4:04 AM CDT
(Newser) - Cops in a small Texas town are accused of seizing the property of innocent black motorists to pad their salaries, the Chicago Tribune reports. A federal lawsuit alleges that Tehana police have abused the state's asset-forfeiture law—intended to penalize drug-runners—to extort money and other valuables from out-of-town drivers... More »

MORE ABOUT:
Texas • money laundering • search and seizure • highways • highway patrol • asset forfeiture

Ruth Madoff
in Court Battle
to Keep $70M

Lawyers argue wife's assets have nothing
to do with scam

Mar 3, 09 3:33 AM CST
(Newser) - Ruth Madoff is battling in court to hang onto $70 million in assets she claims have nothing to do with her husband's alleged $50 billion scam. Lawyers for the Madoffs are seeking to protect the assets—including $17 million in cash, $45 million in bonds, and the $7 million Manhattan... More »

MORE ABOUT:
Ponzi scheme • asset forfeiture • Bernard Madoff • Ruth Madoff • Bernard L. Madoff Investment Securities

 Where Does
 All That Seized
 Money Go? 

Asset forfeiture: an ugly side of the drug war

Jul 13, 08 5:42 AM CDT
(Newser) - What would you do with a few million in drug money? Last year, state and federal authorities seized about $2 billion from Mexican smugglers. The feds have to put any seized money into a dedicated fund, but the rules are looser for states. In Texas and Georgia, for example, sheriffs... More »

MORE ABOUT:
War on Drugs • Texas • crime • police • Mexican drug war • drug cartel • asset forfeiture

7 Stories


from our news partners