Bernard L. Madoff Investment Securities – News Stories About Bernard L. Madoff Investment Securities - Page 4

Feb 2, 2009 8:57 AM CST

Madoff Grandkids May Change Name

It's not easy being related to a Ponzi schemer

(Newser) - What to do if you’re the innocent grandchild of a Ponzi schemer, feeling the public backlash at your ritzy uptown prep school? Change your name—at least, that’s what the family of Bernie Madoff is considering for his grandkids, the New York Post reports. Good luck, little Madoffs—...

Bank Dumped Madoff Funds— but Didn't Tell
Its Clients

Jan 29, 2009 6:00 AM CST

Bank Dumped Madoff Funds— but Didn't Tell Its Clients

JPMorgan beat scam while investors lost out

(Newser) - JPMorgan Chase emerged from Bernie Madoff's Ponzi scheme unscathed, but some of the bank's clients weren't so lucky. For years the bank offered its clients derivatives that were ultimately linked to Madoff, and also put $250 million in those funds. But a joint investigation by the New York Times and...

Tough Economy Bares
a Slew of 'Mini-Madoffs'

Jan 28, 2009 7:18 AM CST

Tough Economy Bares a Slew of 'Mini-Madoffs'

Investors increasingly are becoming wary

(Newser) - Cash-strapped investors looking for redemption from investment funds are turning up surprises in the form of “mini-Madoffs,” Ponzi schemes that—while dwarfed by the alleged $50 billion fraud perpetrated by Bernie Madoff—nevertheless have taken victims for millions, reports the New York Times. At least six frauds with...

Spanish Bank
Offers $1.82B to
Madoff Victims

Jan 28, 2009 6:43 AM CST

Spanish Bank Offers $1.82B to Madoff Victims

The make-good may prompt other banks to offer compensation to fleeced clients

(Newser) - Spanish banking giant Banco Santander, whose clients lost nearly $3.1 billion in Bernard Madoff’s Ponzi scheme, has offered to pay back customers some $1.82 billion, reports Bloomberg. The bank is facing a lawsuit in US federal court, filed by investors who say it failed to exercise due...

Zsa Zsa Lost
Millions to Madoff

Jan 25, 2009 4:51 AM CST

Zsa Zsa Lost Millions to Madoff

Madoff not so 'darling' to actress, 91, who's out up tp $10M

(Newser) - Actress Zsa Zsa Gabor has lost as much as $10 million to accused Ponzi scheme swindler Bernard Madoff, Reuters reports. The actress, 91, is not taking the recently discovered losses well, according to her lawyer. The Hungarian-born cinematic darling of the 1950s and '60s— who chalked up a string of...

Madoff Fund Made No Trades

Jan 16, 2009 2:35 AM CST

Madoff Fund Made No Trades

Records of trades don't match stock prices

(Newser) - The fund run by Wall Street swindler Bernie Madoff apparently did not execute a single trade the entire time it was raking in billions of dollars in investment cash from unsuspecting clients, reports Reuters. Monthly statements of trades from Madoff were pure fiction that kept up appearances in the $50...