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Stories 21 - 40 |
4th Person Connected to
Madoff Commits Suicide
Mar 28, 2017 10:48 AM CDT
4th Person Connected to Madoff Commits Suicide
Father of four jumped from NY hotel
- A hedge fund manager who was duped in Bernie Madoff's Ponzi scheme jumped from the 24th floor of a New York hotel on Monday, becoming the fourth person linked to Madoff to commit suicide, reports the
New York Daily News
. Police and witnesses say Charles Murphy, 56, jumped from...
2 Charged in
Tied to Adele,
Jan 30, 2017 5:03 AM CST
2 Charged in Ponzi Schemes Tied to Adele,
Joseph Meli, Steven Simmons joked about their $81M 'shell game': FBI
- Two men were charged Friday with roles in Ponzi schemes that cheated wealthy people, including some who believed they were investing in ticket businesses for popular shows like an Adele concert and Broadway's
Joseph Meli, 42, of Manhattan, and Steven Simmons, 48, of Wilton, Conn., were arrested on...
Man Who Brought You 'NSync,
Backstreet Boys Dies in Prison
Aug 21, 2016 9:13 AM CDT
Man Who Brought You 'NSync, Backstreet Boys Dies in Prison
Lou Pearlman ran a giant Ponzi scheme, in addition to the boy bands
- The man who brought about the rise of the boy band—notably 'NSync, the Backstreet Boys, and O-Town—died Friday in prison, reports the
Orlando Sentinel .
Lou Pearlman was serving a 25-year sentence for his role in a $300 million Ponzi scheme when he died of unknown causes at...
Panama Papers Name
May 9, 2016 7:00 PM CDT
Panama Papers Name Americans Accused of Fraud
Seems Mossack Fonseca failed to vet its clients
- The Panama Papers database went online Monday and revealed the names of over 360,000 people and companies involved in offshore companies—including 36 Americans accused of financial wrongdoing,
reports. Among them is Leonard Gotshalk, a former Atlanta Falcons offensive tackle who was accused in 2010 by federal...
Feds: Man Used Stolen
Funds to Freeze His Wife
Dec 22, 2014 8:56 AM CST
Feds: Man Used Stolen Funds to Freeze His Wife
Whileon Chay indicted, thought to be on the run in Peru
- A man being charged with running a Ponzi scheme out of New Jersey is not only accused of squirreling away $5 million of his customers' money, reports Bloomberg , but he allegedly spent it on some pretty standard and pretty strange stuff. Whileon Chay, 38, "would show up to meet...
Jurors Reach Verdict in Madoff Workers Trial
Mar 24, 2014 3:28 PM CDT
Jurors Reach Verdict in Madoff Workers Trial
5 former employees all found guilty of hiding fraud
- Five former employees of imprisoned financier Bernard Madoff were convicted today at the end of a six-month trial that portrayed them as telling an elaborate web of lies to hide a fraud that enriched them and cheated investors out of billions of dollars. The trial—one of the longest in...
Jan 7, 2014 10:03 AM CST
JPMorgan Execs Unscathed in $1.7B Madoff Settlement
Fines will go to pay off victims
- JPMorgan has officially signed off on a $1.7 billion settlement laying to rest complaints about its dealings with infamous Ponzi schemer Bernard Madoff. Prosecutors accuse the bank of turning a blind eye to Madoff's frauds—the bank filed a Suspicious Activity Report on Madoff with UK regulators in...
Cough Up $2B
in Madoff Case
Dec 12, 2013 3:24 AM CST
JPMorgan to Cough Up $2B in Madoff Case
Bank accused of turning a blind eye to vast Ponzi scheme
- Five years after history's biggest Ponzi scheme was exposed, Bernie Madoff's main banker is facing a rare criminal action for its role in the scam and is preparing to settle for around $2 billion, reports the
New York Times
. JPMorgan is accused of turning a blind eye to...
Could Get Cash
Nov 19, 2013 4:01 PM CST
10K More Madoff Investors Could Get Cash
Victim pool has been expanded
- Bernie Madoff's victim pool has been expanded to include so-called "third party" investors, or people who lost money they had invested with "middleman" firms that in turn invested it with Madoff. That means more than 10,000 people—initially denied from receiving compensation distributed by the liquidation...
Aug 9, 2013 4:55 PM CDT
Madoff's Office Was Sexual Hotbed: Court Papers
Prosecutors make accusation in Manhattan federal court
- Bernie Madoff's office was a hotbed of relationships that included a love triangle involving the Ponzi scheme king himself, according to court documents released today. Four associates of Madoff Securities and Madoff's former secretary were in Manhattan federal court facing charges over the $65 billion scheme when prosecutors...
Gets 10 Years
Dec 20, 2012 5:38 PM CST
Peter Madoff Gets 10 Years Over Brother's Ponzi Scheme
He will probably lose all his assets, too
- Bernie Madoff's younger brother got sentenced to 10 years in prison today after admitting to crimes such as falsifying documents and lying to regulators. But Peter Madoff, 67, continued to insist he didn't know about Bernie's massive Ponzi scheme, a claim the judge called "frankly not...
Was a Massive
Nov 27, 2012 9:07 AM CST
Kabul Bank Was a Massive Ponzi Scheme: Audit
Its purpose: to benefit Karzai insiders
- Fraud was rampant at Kabul Bank—and a new report shows how deeply the corruption went. Indeed, "from its very beginning, the bank was a well-concealed Ponzi scheme," says an audit obtained by the
New York Times
. The bank's primary purpose, the audit suggests, was financial gain...
on the Way
Sep 20, 2012 11:21 AM CDT
Madoff Victims Have $2.48B on the Way
1,230 people getting checks averaging $2M
- The check is indeed in the mail for Madoff victims: Following a judge's approval, some 1,230 victims of Bernie Madoff's Ponzi scheme will soon receive money totaling $2.48 billion. Mailed yesterday, the checks average about $2 million each, and range between $1,784 and $526.9...
Madoff Trustee Ready
to Repay $2.4B
Jul 27, 2012 2:52 AM CDT
Madoff Trustee Ready to Repay $2.4B
Lawsuits by investors could slow down, reduce payout
- It's been more than three years since Bernie Madoff's giant Ponzi scheme was discovered, resulting in $17 billion in lost principle for his investors. But now the trustee in charge of Madoff's bankruptcy says he's ready to give the stolen funds back to the duped investors—...
Jun 29, 2012 7:33 AM CDT
Peter Madoff Taken Into FBI Custody
Bernie's brother to plead guilty later today
- The FBI took Bernie Madoff's brother into custody this morning, ahead of a scheduled court appearance in which Peter Madoff will plead guilty to two criminal charges. That appearance will take place at the same courthouse where Bernie was sentenced to 150 years in prison for his Ponzi scheme....
to Plead Guilty,
Get 10 Years
Jun 27, 2012 5:03 PM CDT
Madoff's Brother to Plead Guilty, Get 10 Years
Peter Madoff was a top exec at Bernie's fraudulent hedge fund
- Bernie Madoff's brother is heading to prison for 10 years. Peter Madoff made an agreement with prosecutors and will plead guilty on Friday to two charges: falsifying the records of an investment adviser and conspiracy to commit securities fraud and other crimes, reports the
Wall Street Journal
. Peter served...
Jun 14, 2012 12:33 PM CDT
Ponzi Schemer Stanford Gets 110 Years
Texas financier called 'ruthless predator' by prosecutors
- R. Allen Stanford's epic fall from billionaire to imprisoned fraudster came to a conclusion today as a judge sentenced him to 110 years in prison, reports the
Wall Street Journal
. Stanford was convicted in March of bilking investors in a $7 billion Ponzi scheme that spanned 20 years. Prosecutors...
Ponzi Schemers Busted
After 12 Years On the Run
May 7, 2012 5:34 AM CDT
Ponzi Schemers Busted After 12 Years On the Run
Illinois 'mini-Madoffs' found in small Arizona town
- An Illinois couple who ripped off friends, family, and elderly people in a multi-million dollar Ponzi scheme has been arrested in Arizona, 12 years after they fled their home state before they could be sentenced on fraud and money laundering charges. Nelson Grant Hallahan, 65, and wife Janet Hallahan, 54,...
in $7B Ponzi
Mar 6, 2012 1:00 PM CST
Allen Stanford Found Guilty in $7B Ponzi Scheme
He could face more than 20 years in prison
- Texas tycoon R. Allen Stanford, whose financial empire once spanned the Americas, was convicted today on all but one of the 14 counts he faced for allegedly bilking investors out of more than $7 billion in a massive Ponzi scheme he operated for 20 years. Jurors reached their verdicts against...
Mets Owners Owe
$83M in Madoff Case
Mar 5, 2012 4:58 PM CST
Mets Owners Owe $83M in Madoff Case
Trustee Irving Picard will get his day in court
- Bernie Madoff's historic Ponzi scheme is finally dragging the New York Mets to court. A judge ruled today that the team's owners must return up to $83 million withdrawn from Madoff's firm and go to trial over whether they ignored warning signs of the investment scam, MarketWatch...
Stories 21 - 40 |
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