By Kim Velsey 1/22 5:15pm

House of Shame

The old place was swanky.

Prison-bound Peter Madoff To Spend Last Days of Freedom In Aptly-named Liberty House

It has a 24-hour doorman and river views, but the real appeal of 377 Rector Place—a building that is about as bland as a luxury tower can be—lies in its name: Liberty House. Particularly if one is about to start a 10-year prison sentence.

The New York Post reports that Peter Madoff and wife Marion have moved into a $3,200-per month one-bedroom rental in the Battery Park City building. For someone who has agreed, as part of plea bargain, to the criminal forfeiture of $143.1 billion, including all real estate and personal property, a rental is definitely the way to go. Read More

By Patrick Clark 10/01/12 7:37pm

White Collar

madoff image

Madoff Fraud Dated Back to 1970s, U.S. Says in New Indictment

Prosecutors filed new charges against five employees of Bernard L. Madoff Investment Securities in documents filed today, alleging that the conspiracy to defraud investors in the firm dated to at least the early 1970s, and adding charges relating to corporate and personal loans and new tax offenses.

The superseding indictment adds new charges against Daniel Bonventre, who worked for Mr. Madoff for 40 years, eventually rising to the position of director of operations, as well as Annette Bongiorno and Joann Crupi, and brings charges against BLMIS computer programmers Jerome O’Hara and George Perez for the first time. Read More

By Patrick Clark 8/08/12 7:55am

Morning Read

Ben Lawsky Gains ‘Rogue Regulator’ Moniker After Standard Chartered; Hedge Funds’ Fight Over Madoff Claims: Roundup

Rogue bank or rogue regulator? That was the subject of some debate yesterday, after New York’s top banking regulator, Ben “long-arm-of-the” Lawsky, filed an order alleging that Standard Chartered Bank had conducted $250 billion in off-limits business with Iranian banks. According to The New York Times, the Department of Justice, Federal Reserve and the Treasury, among other authorities, had been debating the extent of Standard Chartered’s wrongdoing. In April, Mr. Lawsky’s deputies told federal authorities that DFS planned to move forward with the case, but it wasn’t until Monday morning that the state agency alerted the Feds that it was about to file the explosive order.  Read More

By Kim Velsey 7/19/12 7:30pm

House of Shame

the-madoff-FAMILY

A Madoff Investment That Will Actually Make Money: Family Homes Coming to Market

In the midst of running their elaborate Ponzi scheme, the Madoff family invested money in some actual investments—namely, real estate in Manhattan, Long Island and Greenwich.

The government came for Ruth and Bernie Madoff’s penthouse years ago, but the real estate holdings of the rest of the family have taken a little longer to claim, as the courts untangle the many complications of recovering cash stolen by the clan. Read More

By Mike Taylor 12/21/10 8:15pm

Ponzi Schemes

Former Madoff Employee Goes to Jail

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