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Madoff News

Op-Ed: Bernie Madoff's crimes still reverberating

New York - Bernie Madoff's former attorney. Paul Konisberg, pleads guilty to security fraud — reminding us of a decade fraught with lies.
In the Media by Eric Deville

Former Madoff associates found guilty of fraud

Five former aides to investment manager Bernard Madoff were convicted on Monday of charges that they helped their boss conceal his multibillion-dollar Ponzi scheme for years.
In the Media by Joseph Ax (Reuters)

U.S. judge OKs JPMorgan $218 million Madoff class-action settlement

A federal judge on Friday gave final approval to JPMorgan Chase & Co's <JPM.N> $218 million settlement to resolve class-action litigation accusing the largest U.S.
In the Media by Reuters

Five months later, jurors face tough task in Madoff aides' trial

Like Bernard Madoff's Ponzi scheme itself, the trial of five of his former aides has been virtually unprecedented in its scope.
In the Media by Joseph Ax (Reuters)

Defense for Madoff aides claims ignorance of fraud in closing arguments

Attorneys for five former aides of convicted swindler Bernard Madoff wrapped up nearly 20 hours of closing arguments on Wednesday, capping their courtroom campaign to convince a federal jury that their cli...
In the Media by Joseph Ax (Reuters)

With billions at stake, U.S. court weighs Madoff clawback claims

Victims of Bernard Madoff's epic fraud may be able to recoup only a small portion of the billions of dollars he allegedly funneled to selected customers in the last years of his Ponzi scheme.
In the Media by Jonathan Stempel (Reuters)

Madoff aides used 'avalanche of lies' to hide fraud: Prosecutor

Five former aides of infamous swindler Bernard Madoff used an "avalanche of lies" to help him carry out his decades-long Ponzi scheme, each with a specific role to ensure that investors, auditors and regul...
In the Media by Joseph Ax (Reuters)

Ex-Madoff aide pleads ignorance, naivete at U.S. fraud trial

Ponzi scheme. Treasury bond. The Standard & Poor's 500 index. The collapse of Lehman Brothers.
In the Media by Joseph Ax (Reuters)

Second Madoff aide testifies at trial, denies knowledge of fraud

Longtime Bernard Madoff assistant Annette Bongiorno on Monday testified that she had no idea her boss was operating a vast Ponzi scheme, despite the decades she spent helping run the trading business where...
In the Media by Joseph Ax (Reuters)

Ex-Madoff aide on trial in N.Y. wins dismissal of two counts

One of five former Bernard Madoff aides on trial for abetting his massive Ponzi scheme will face two fewer counts when the case goes to a jury, after a judge agreed to throw out charges that he arranged fo...
In the Media by Joseph Ax (Reuters)

Madoff said JPMorgan executives knew of his fraud: lawsuit

Two senior officials at JPMorgan Chase & Co and predecessor companies repeatedly confronted Bernard Madoff over irregularities in his business, a new lawsuit said, suggesting that bank leaders h...
In the Media by Jonathan Stempel (Reuters)

Ex-Madoff aide testifies at own trial, denies he knew of fraud

Only minutes into the prosecution's questioning of former Bernard Madoff aide Daniel Bonventre at trial on Wednesday, it was clear he was in for a long day. Assistant U.S.
In the Media by Joseph Ax (Reuters)

Former Madoff aides get their day in court

Four months into a criminal trial for five former employees of Bernard L.
In the Media by Joseph Ax (Reuters)

Op-Ed: Austerity — The political bullet headed everyone’s way

Sydney - “Austerity” is a word which first came from the hellishly idiotic mouth of Margaret Thatcher. After years of chronic cronyism and nepotism governments around the world are seeing the start of a long overdue backlash.
In the Media by Paul Wallis - 4 comments

Op-Ed: Wall Street as real organized crime? US cities scams hit the fan

Sydney - Wall Street is the epitome of the corruption, insanity and anti-democratic forces at work in the USA. It breaks laws like corn flakes and gets protection from its spineless political pets while bankrupting cities and counties.
In the Media by Paul Wallis - 5 comments

Op-Ed: Vermin on the Hill — How Congress provides a 911 every day

Sydney - I’ve been describing American politics as pure criminal anti-democracy for some time. But a US election year, which happens in the same years as the Olympics, is worth watching for the exact opposite reasons that I watch the Olympics.
In the Media by Paul Wallis

De Niro to star as Madoff in film

Bernie Madoff was involved in a major financial scam, and now he will be the subject of a movie that will be starring Robert De Niro.
In the Media by Owen Weldon - 2 comments

Madoff victims get some justice from deceased investor’s estate

New York - $7.2 billion worth of Madoff-related money will be restored to investors as a result of a settlement with the estate of the late Jeffry Picower. The good news is that this is apparently an positive settlement, with the blessing of Mr. Picower’s widow.
In the Media by Paul Wallis

Madoff says he gave $9 billion to friends before getting caught

Convicted Ponzi schemer Bernie Madoff allegedly told a prison inmate he funneled $9 billion to three friends before getting caught for his white-collar crime, the New York Post reports.
In the Media by David Silverberg - 5 comments

Bernie Madoff treated for Dizziness and Hypertension

Prison officials are claiming that Bernie Madoff was treated for dizziness and hypertension. Reports were denied that he was assaulted.
In the Media by Michael Bearak

Jeffry Picower, Madoff's Biggest Beneficiary Found Dead in Pool

Bernard Madoff's friend, Jeffry Picower, reportedly his biggest fraud beneficiary, was found dead inside his house by his wife and a housekeeper. Picower was listed in the Forbes top 400 billionaires in America. He reportedly suffered a heart attack.
In the Media by Leo Reyes - 1 comment

Madoff's wife crying all the way to the bank

Bernard Madoff''s wife Ruth has said she "felt immense pain" for her husband's victims yesterday, the same day Bernard was sentenced to 150 years in jail. She did not attend court, but issued a statement to the press.
In the Media by Stephanie Dearing - 8 comments

Madoff's lawyer pleads for a short sentence

Ira Sorkin, the lawyer of the once Wall Street wizard Bernard Madoff, wrote a letter to Judge Denny Chin to ask for a 12-year prison term.
In the Media by Wang Fangqing

Madoff's UK offices to be investigated

It has been suggested that offices in the United Kingdom owned by Bernard Madoff might have been used as part of the fraud.
In the Media by Jane Fazackarley - 1 comment

Madoff's accountant charged with fraud, filing false statements

In the continuing story of Bernie Madoff, his accountant has now been charged. David Frehling has been charged with six counts of securities fraud, investment adviser fraud, and filing false statements with the SEC.
In the Media by Rhonda Straw

Government Wants To Seize Ruth Madoff's Home and Assets

The government does not intend for Bernie Madoff's wife, Ruth, to keep her Manhattan penthouse, $64 million and other assets, while her husband serves his sentence.
In the Media by Rhonda Straw - 2 comments

Op-Ed: The Deal To Make With Madoff

The icon embodying our generation’s perception of the more extreme and baser elements pervasive on Wall Street will receive a sentence this summer that will extend far beyond his life expectancy.
In the Media by James Raider

Madoff's 'I'm Sorry' Apology May Come Too Late

Before getting hauled off to the slammer, Bernard “Bernie” Madoff said that he is sorry for what has happened. Perhaps the apology was given a wee bit too late as he could face the rest of his life behind bars.
In the Media by Can Tran - 2 comments

Madoff Goes to Court

After nearly a month of house arrest served in his plush New York City apartment, disgraced financier Bernanrd Madoff appeared in a lower Manhattan court today to answer questions about three potential conflicts of interest.
In the Media by Jan Louthain

Op-Ed: FBI Shifts Counter-terrorism Focus to Anti-Fraud

As the economy’s meltdown confuses politicians and economists, further stressing businesses and wage earners, the FBI has suddenly discovered a new path to career advancement. 

In the Media by James Raider
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