Several tiny bullocks once belonging to multibillion-dollar fraudster Bernie Madoff is now up for auction, Reuters reports. One such bull, an inspirational totem to Wall Street wealth creation, was made in Italy, just like another huge Madoff influence, Charles Ponzi!
There are other bits of Madoff schwag available, if this teeny weeny bull of Read More
There is something unpleasant but human about wishing a serious amount of ill on significant villains, or chuckling when they suffer. Stories claimed last year, for example, that Bernie Madoff was dying of cancer, which he wasn’t, and then that he was badly injured by either a fall out of bed or an Read More
The Securities and Exchange Commission announced that it has settled a case against Cohmad Securities Corporation, which the authorities had accused of funneling hundreds of investors to convicted Ponzi schemer Bernard Madoff.
Says the SEC:
The amended complaint alleges the defendants made material misrepresentations and omissions by referring hundreds of investors to Bernard L. Read More
Arthur Nadel, a Ponzi-scheming asset manager who came to be known as “Mini-Madoff” for perpetrating a $16 billion fraud, was sentenced on Thursday to 14 years in prison, Reuters reports.
The indignity of starting a decade-plus stint in the pen at the ripe old age of 77 was supplemented by a round of no-holds-barred Read More
Sir Allen Stanford, alleged head of a $7 billion Ponzi scheme, will not be allowed to use a $100 million insurance policy to pay for his defense against the charges, Bloomberg reports.
A Houston federal judge said that Stanford probably laundered money, and (this is a little surprising) he should have told his insurance Read More
Irving Picard, the trustee in charge of allocating the ill-gotten funds from Bernie Madoff’s $65 billion Ponzi scheme, is suing the “victims” who managed to profit on the fraud by withdrawing their money in the early going.
Lawmakers are rallying to the side of the thousand-odd “net winners” in the scheme. Republican Rep. Peter Read More
Securities and Exchange Commission enforcement director Robert Khuzami today said that his agency has made great improvements since allegedly screwing the pooch when investigating suspected Ponzi schemer Allen Stanford.
Khuzami said that his agency is “also vigorously pursuing its case against Stanford and the others charged in this massive Ponzi scheme.” He pointed to Read More
A partner in a fake foreign-exchange investment fund that was actually a Ponzi scheme was today sentenced to five years of probation after cooperating with the authorities, Bloomberg reports.
Bradley Eisner pleaded guilty in 2008 to conspiracy to commit mail and wire fraud. He took money from investors and instead of trading currency bought Read More
Bernie Madoff’s victims want to get their money back faster. The New York Post reports that hundreds of Bernie Madoff’s investors are arguing in court that Irving Picard, the court-appointed bankruptcy trustee in the Madoff case, is raking in too much cash for his stewardship of the ill-gotten funds.
The bill for Picard’s service Read More
More news today from the saga of Ken Starr, the money manager and Ponzi schemer profiled by this paper a few months ago. Page Six ran an item today about Dianne Passage, Starr’s wife and a former exotic dancer, allegedly being stalked by representatives for Wesley Snipes, who was one of Read More