Lawmakers blast Securities Investor Protection Corp., Madoff trustee for treatment of victims Securities Investor Protection Corporation - Bernard Madoff - Law - Ponzi scheme - United States
It's now a near legendary tale: SEC lawyers, prompted by calls by do-gooder Harry Markopolous, looked into Bernie Madoff years ago, but failed to nab him. A similar story has now surfaced in regard to hedge-fund mogul Raj Rajaratnam, who was charged with insider-trading related securities fraud in October. '> http://bit.ly/5Sn911
Daily Intelligencer - New York Magazine (Free subscription) | 12/04/2009
Computer chip-maker Intel was suspicious of the Galleon Group founder's ability to predict their revenue with "extreme accuracy," as far back as 1990, but SEC regulators were unable to prove anything, probably because they were over at the Lipstick Building making googly eyes at Bernie Madoff. [ WSJ ] Read more posts by Jessica Pressler Filed Under: business , galleon , insider trading ,...
Bernard Madoff's investors aren't the only ones suffering through the aftershocks of his epic fraud. A cloud of suspicion hangs over the financial planning industry, forcing even longtime veterans adjust their business practices and reassure skittish clients.
FORT LAUDERDALE, Fla. (SEND2PRESS NEWSWIRE) -- The media is saturated with real-life accounts of financial scoundrels such as Madoff, Sanford, and Rothstein making people sadly aware of men who strive to cheat their clients through criminal schemes and outright theft. Such is the story line of husband and wife co-authors Ken and Tammy Brown's 'Falling Apart' (ISBN: 9781605943954, Llumina Press). However,...
(Editor’s note: in all fairness, the GS initiative does represent a fundamental shift away from the Friedman doctrine of amoral capitalism.) Money does not represent gold, solver, or oil. Money represents human productivity – yours and mine. Goldman Sachs is about to award the greatest ANNUAL payout for its employees – over 700,000 dollars EACH. The words [...]
The wife of Jeffry Picower, the longtime Bernard Madoff investor who drowned in his pool last month, told a judge that the trustee for Madoff's firm is "overreaching" in his $7.2 billion lawsuit against the couple.
UBS AG and Ernst & Young LLP may face hundreds of damages claims if investors who lost millions of dollars in mutual funds linked to Bernard Madoff's Ponzi scheme win a group of Luxembourg test cases.
They key to any successful plaintiff's lawsuit is making sure you can sue someone who can actually pay. And in a collapsed Ponzi-scheme, that means finding someone responsible other than the now-broke schemer. In tiny Luxembourg, Bernie Madoff victims are going after a major bank and a major auditing firm for failing to properly oversee a fund that fed 95% of its investments into Madoff. Bloomberg...
Bernard Madoff whistleblower Harry Markopolos' lawyer is demanding the SEC pay Madoff's victims huge damages for "completely botching" chances to shut...
NEW YORK, Nov. 23 /PRNewswire/ -- In recognition of the damage inflicted on investors by financier Bernard Madoff's decade-long Ponzi scheme, CIRCA, the largest global buyer of jewelry from the public, recently spent $50,000 in a U.S. Marshals-held jewelry auction designed to benefit Madoff's investor victims.
Jim Summers, an organizer for End the Fed , files this report in the Nashua Telegraph about, among other things, the symbiotic relationship between Congress and the Federal Reserve. The effects of our financial house-of-cards collapsing are everywhere: home foreclosures, unemployment, stock values cut in half, retirement savings lost. The cause, however, is a bit harder to discern as we are distracted...