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
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
According to documents published by ABC News, JPMorgan Chase had an inkling that Bernie Madoff’s returns might’ve been “too good to be true” before the SEC cracked down on the Ponzi schemer. Such a revelation could prove material in Madoff trustee Irving Picard’s $6.4 billion lawsuit against the bank, alleging Read More
Irving Picard, the well-compensated trustee in charge of wresting Madoff victims’ money from Madoff beneficiaries, is suing JPMorgan Chase.
Reuters reports that Picard, who’s been rapidly expanding his efforts to claw back investor dollars, is seeking $1 billion in fees and profits, plus $5.4 billion in damages from the banking behemoth. Read More
Two ex-employees of convicted Ponzi schemer Bernie Madoff have been arrested, The New York Times reports.
Annette Bongiorno, Madoff’s former secretary, and Joann Crupi, who tallied the Madoff fund’s cash balances, were arrested by the feds this morning. The Times says that the collarings signal a “significant expansion” in the government’s pursuit of Read More
This past weekend, a mysterious gentleman who refused to identify himself to the press made the biggest purchase at an auction of ill-gotten trinkets amassed by notorious Ponzi schemer Bernie Madoff. Bloomberg reports:
The most expensive lot was a 10.5-carat diamond ring that fetched $550,000, beating its high presale estimate by $200,000.
It Read More
When we came across photos of all the pricey Bernie Madoff goods set to be auctioned off for the benefit of his victims, our first instinct was not to psychoanalyze the stash, but rather to envision various potential uses for the loot. Many of the fancy baubles and tony setpieces are beautiful to Read More