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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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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Wednesday, February 4th, 2009
Harry Markopolos had some choice words for the SEC, when called to testify about his numerous attempts to blow the whistle on the enormously damaging Bernard Madoff Ponzi Scheme.
"You are both a captive regulator and a failed regulator," said Markopolos in his testimony to a U.S. House subcommittee.
Markopolos ...
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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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Thursday, December 25th, 2008
J. Ezra Merkin has been ordered to not destroy any financial records related to the dealings of Bernard J. Madoff. Merkin is the chairman of GMAC who runs several hedge funds which invested with Madoff. The dealings came to light when one of Merkin's clients, New York University, ...
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Wednesday, December 24th, 2008
The question "what is a Ponzi scheme?" is being asked a lot these days now that Bernard J. Madoff has perpetrated the biggest Ponzi scheme in world history, with an estimated $50 billion of investor money lost to fraud.
A Ponzi scheme is named after Boston-area Italian immigrant swindler ...
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