Ponzi Scheme

Madoff Auction Pulls In Double Auctioneers Hope

Michael Santo — Sun, 15 Nov 2009 11:24:44 -0600

A Saturday auction of some of the belongings of Bernard and Ruth Madoff pulled in about double what auctioneers had hoped, and far more than the estimated value of the goods, auctioneers said. The total was about $1 million.

Bernard Madoff Says He's Dying of Cancer

Gabriel Dorman — Mon, 24 Aug 2009 11:56:53 -0500

Bernard Madoff is dying of cancer. At least that is what the world's biggest ponzi schemer is telling his fellow inmates at the Butner Federal Correctional Complex in North Carolina where Bernard Madoff is serving his 150 year prison sentence for perpetrating a massive mult-billion dollar ponzi scheme that United States District Judge Denny Chin called an "extraordinary evil" during sentencing.

Chicago Investor Pleads Not Guilty to $12 Million Ponzi Scheme

Armen Hareyan — Fri, 17 Jul 2009 07:36:11 -0500

A Chicago-area man has pleaded not guilty to four counts of mail fraud in connection with a two-year scheme that took nearly $12 million from up to 300 investors, according to a press release issued by the FBI.

Bernard Madoff: 10 Others To Face Charges

Gabriel Dorman — Tue, 30 Jun 2009 13:24:22 -0500

It's not over yet. An anonymous source close to the investigation into the multi-billion dollar Bernard Madoff fraud scheme says at least 10 others may face criminal charges.

Is Bernard Madoff Really Sorry?

Gabriel Dorman — Mon, 29 Jun 2009 13:47:21 -0500

Bernard Madoff said he's sorry during his sentencing this morning. For a man who masterminded such a massive financial fraud, it begs the questions, is Bernard Madoff really sorry or just sorry that he got caught?

Bernard Madoff's Wife Ruth to Give Up Fortune

Gabriel Dorman — Sat, 27 Jun 2009 09:48:21 -0500

Ruth Madoff, the wife of convicted ponzi schemer Bernard Madoff, agreed to give up nearly $80 million dollars in assets yesterday as part of a settlement with federal prosecutors.

Bernie Madoff Solicitors And Feeder Charged With Fraud

Armen Hareyan — Mon, 22 Jun 2009 16:18:51 -0500

The Securities and Exchange Commission today charged a New York-based broker-dealer and four individuals with securities fraud, alleging that they collectively raised billions of dollars from investors for Bernard L. Madoff's Ponzi scheme.

Madoff Victims Complicit in Fraud?

Armen Hareyan — Mon, 18 May 2009 09:35:23 -0500

Bernie Madoff is back in the news, but this time from a different angle. The question is are his ponzi scheme vicitims complicit in the fraud?

David Friehling, Madoff Accountant, Turns Himself In

Michael Santo — Wed, 18 Mar 2009 13:20:26 -0500

Although Bernie Madoff has asserted that he, and he alone, was responsible for the Ponzi scheme for which he faces up to 150 years in prison, "another one bites the dust." David Friehling, his auditor from 1991 - 2008, has been charged with aiding and abetting Madoff's $50 billion pyramid investment scheme.

Madoff Guilty Of Ponzi Scheme, SEC Charges Two Others

Armen Hareyan — Thu, 12 Mar 2009 13:15:39 -0500

After Bernie Madoff is pleaded guilty in a Ponzi Scheme and ordered to jail SEC has charged two others from California in a multi-million dollar Ponzi scheme type of investment fraud.

Bernie Madoff to Plead Guilty; Faces Up to 150 Year Sentence

Michael Santo — Tue, 10 Mar 2009 23:40:00 -0500

It was revealed Tuesday that Bernie Madoff, who perpetrated one of the largest frauds in history, will plead guilty on Thursday to securities fraud, perjury and other crimes. He could face, though unfortunately no serve, up to 150 years in prison.

Retired UK Veteran Kills Himself Over Madoff Losses

Michael Santo — Sat, 14 Feb 2009 13:39:51 -0600

A retired British Army major has killed himself after losing his life savings to the Bernie Madoff Ponzi scheme.