Monday, April 6th, 2009
In a move that shouldn't surprise many, J. Ezra Merkin, the former chairman of GMAC, famed NYC philanthropist, and hedge fund manager has been charged with fraud for his connection in the Bernard Madoff Ponzi scheme.
New York Attorney General Andrew Cuomo charged Merkin with civil fraud for steering many of ...
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Monday, March 16th, 2009
Prosecutors in the case against Bernard Madoff are seeking to seize his and wife, Ruth's, remaining assets after the 70 year old "investor" plead guilty to 11 criminal charges associated with his large scale Ponzi scheme on March 12, 2009.
According to a document filed at the U.S. District Court in ...
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Wednesday, March 11th, 2009
In a surprise move, Ira Sorkin, the attorney for Bernard Madoff says the disgraced investor will plead guilty to 11 counts against him. Madoff is facing 150 years in prison if he's convicted of all charges. Madoff has been under house arrest since December 2008, when he confessed ...
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Sunday, March 8th, 2009
Bernard Madoff is finally going to meet his victims in court. Madoff admitted to the largest Ponzi Scheme in December, yet he's remained out of jail the whole time.
Madoff, the former Chairman of NASDAQ, has been under house arrest since December 2008.
On Friday US District ...
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Monday, January 12th, 2009
Bernard Madoff will not be jailed while awaiting his trial on charges that he ran the largest Ponzi scheme in history and defrauded investors out of billions. Prosecutors had stated that Madoff had violated terms of his probation, and should be jailed immediately.
The judge has added certain ...
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Thursday, January 8th, 2009
Bernard Madoff allegedly engineered the largest business fraud in the history of the world yet he remains a free man. If you or I, dear reader, stole a pack of gum from WalMart, we'd be serving hard time already. Yet Madoff is said to have stolen more money ...
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Wednesday, January 7th, 2009
Ezra Merkin may soon be ousted from his position as Chairman of GMAC, the troubled financing arm of General Motors. There's no point in detailing the many woes facing GM and GMAC since they've been chronicled extensively, but suffice it to say GMAC is facing huge problems which can't ...
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Wednesday, January 7th, 2009
Bernard Madoff was an equal opportunity scammer, unafraid of who he hurt, including close friends, by his nefarious stock market swindle. Proof of his callous nature comes in the way he treated one of his oldest friends, 95 year old Carl Shapiro. Just ten days before the collapse ...
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Tuesday, January 6th, 2009
Considering Bernard Madoff engineered the most massive Ponzi scheme, defrauding investors out of billions, it seems odd that he's a free man. Now prosecutors are seeking to address that issue by asking for his bond to be revoked.
The Federal prosecutors say that Madoff sent over $1 million ...
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Friday, December 26th, 2008
Rene-Thierry Magon de la Villehuchet's clients weren't the only ones that lost fortunes to Bernard Madoff's Ponzi scheme.
According to Rene-Thierry Magon de la Villehuchet's brother, Bertrand, Rene-Thierry Magon de la Villehuchet lost "several tens of millions" of his own personal wealth by vesting with Bernard Madoff.
Bertrand told the AP, ...
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