Ponzi schemes, and calling things Ponzi schemes, is majorly in fashion these days, thanks in part to the conviction of actual Ponzi schemer Bernie Madoff, but also because “Ponzi scheme” is just a fun thing to say. And so in that spirit we get analyses like “Yahoo! was a Ponzi scheme” and “Read More
Authorities accuse the 62-year-old ex-Madoff assistant of defrauding investors and helping keep Mr. Madoff’s Ponzi scheme in motion. Says The Journal: Read More
Looks like Annette Bongiorno, one of the two former employees of convicted Ponzi schemer Bernie Madoff, is headed for jail after a judge today ordered the revocation of her bail. The former Madoff secretary was arrested Nov. 18 along with former coworker JoAnn Crupi on charges of fraud and conspiracy. U.S. District Judge Laura Taylor Read More
Following the climax of Madoff trustee Irving Picard’s lawsuit frenzy, The New York Times reports that hedge funds and other investors in distressed assets are offering Madoff victims cash up front in exchange for the chance to reap big payouts once Mr. Picard’s crusade gets hashed out in courts.
After Mr. Picard went Read More
As the deadline approaches for Madoff crusader Irving Picard to file lawsuits against any potential malefactor he can think of, the trustee is going for the gusto. He’s suing Austrian banker Sonja Kohn for $19.6 billion and calling her Madoff’s “criminal soul mate, whose greed and dishonest inventiveness equaled his own.” Ouch.
The resemblance, in Read More
Bernie Madoff Ponzi avenger Irving Picard is doing something long-suffering Queens baseball fans have often dreamed of: He’s suing the owners of the New York Mets.
Carl Shapiro, a 97-year-old Boston philanthropist endowed with the dubious distinction of being an early investor in Bernie Madoff’s Ponzi scheme (and a longtime friend to the fraudster), has agreed to give $625 million to the government, Bloomberg reports.
“In the decades they did business with BLMIS, the Shapiro IA account Read More
Irving Picard, the trustee in charge of securing money stolen by Ponzi schemer Bernie Madoff, is accusing HSBC of continuing to deal with Madoff feeder funds despite the London bank’s significant suspicions about the fund. It is on those grounds that Mr. Picard is suing HSBC for $9 billion.
As was the case with Read More
Fresh off his $6.4 billion filing against JPMorgan Chase, Madoff Ponzi avenger Irving Picard is setting his sights on London-based bank HSBC. Picard is hitting up HSBC for $9 billion. He’s gone hyper-litigious of late, suing more than 100 people and institutions as a Dec. 11 deadline for filings to reclaim ill-gotten Read More