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Ponzi Scheme News

  • Madoff scandal, SEC role under scrutiny Tuesday, January 6, 2009 @ 1:48PMAllan Goldstein, a retiree and investor with Bernard L. Madoff Investment Securities, testifies before the House Committee on Financial Services, Monday, Jan. 5, 2009, on Capitol Hill in Washington.
  • Amid the financial wreckage, learn to protect yourself and your household Tuesday, January 6, 2009 @ 1:44PMBy now, having watched your house fall in value, your 401(k) plan slide toward nothingness, your job security disappear, your benefits fade, the complete failure of business management, the disastrous failure of regulatory control, the finger-pointing of the political parties, the shameful desire of a state governor to sell a U.S. Senate seat and the revelation of an epic $50 billion fraud, none ...
  • House panel rips SEC on lapses with Bernard Madoff Tuesday, January 6, 2009 @ 1:37PMTribune Washington Bureau
  • Bid to Revoke Madoffs Bail Cites His Gifts Tuesday, January 6, 2009 @ 1:37PMBernard L. Madoff tried to hide at least $1 million in assets from investigators, prosecutors told a judge.
  • Madoff Trustee Finds $830 Million of Liquid Assets (Update1) Monday, January 5, 2009 @ 9:16PMJan. 5 (Bloomberg) -- The trustee liquidating Bernard Madoff ’s firm found $830 million in liquid assets in the defunct brokerage firm to meet claims that may exceed any previous case, the president of the Securities Investor Protection Corp . said.
  • Congressmen sound off against SEC in Madoff affair Monday, January 5, 2009 @ 9:16PM(AP:WASHINGTON) Republican and Democratic House members said Monday that the alleged $50 billion fraud involving Wall Street figure Bernard Madoff reflects deep, systemic problems at the Securities and Exchange Commission.
  • U.S. Govt To N.Y. Judge: Jail Madoff Without Bail Monday, January 5, 2009 @ 9:14PMProsecutors on Monday said disgraced financier Bernard Madoff violated bail conditions by mailing about $1 million worth of jewelry and other assets to relatives and should be jailed without bail.
  • U.S. seeks to revoke Madoff bail Monday, January 5, 2009 @ 9:11PM U.S. prosecutors asked a judge to revoke the bail terms for alleged swindler Bernard Madoff and detain him on Monday, claiming he was a flight risk.
  • Stocks fluctuate after last week’s rally (UPDATED: 9:48 a.m.) Monday, January 5, 2009 @ 9:11PM NEW YORK (AP) — Caution returned to Wall Street today as investors gave back some gains from last week’s rally even as they found some encouragement from a report that construction spending fell less than forecast.
  • At Madoff Hearing, Congressional Committee Vows Reform Monday, January 5, 2009 @ 9:10PMMembers of the House Financial Services Committee vowed today to undertake a major overhaul of the U.S. financial regulatory system in the wake of an alleged $50 billion fraud that they said should have been detected earlier.
  • Feeling safe in tough times requires self-reliance Sunday, January 4, 2009 @ 12:37PM By now, having watched your house fall in value, your 401(k) plan slide toward nothingness, your job security disappear, your benefits fade, the complete failur ...
  • Trustee overseeing Madoff bankruptcy seeks broad authority Sunday, January 4, 2009 @ 12:29PMIrving Picard has made an urgent request to the court that named him trustee for unusually broad powers to subpoena witnesses and documents, citing the vast scale of the funds involved
  • MADOFF MEMORABILIA SELL-OFF Sunday, January 4, 2009 @ 11:24AMThey are victims of the biggest Ponzi scheme in history, and all they have to show for it are these lousy T-shirts. And flashlights. And beach chairs. And tote bags. Duped employees and clients of $50 billion scammer Bernard Madoff are...
  • ANN WOOLNER: Pulling off a scam takes nerve Sunday, January 4, 2009 @ 10:41AMWhen Manhattan lawyer Marc Dreier needed to apply a patina of reality to allegedly bogus promissory notes he was pitching to hedge funds, he used "Mission Impossible"-type tricks.
  • A look at 2008, by the numbers Sunday, January 4, 2009 @ 10:21AMIt was the year the U.S. government pledged more than $8.5 trillion in loans and guarantees to bail out struggling companies. U.S. Treasury Secretary Henry Paulson...
  • Troubling questions over Madoff Sunday, January 4, 2009 @ 9:46AMNew York money manager Bernard Madoff was charged with fraud last month after confessing that he had been running a Ponzi scheme, with losses that could top $50 billion (U.S.).
  • Actors Bacon, Sedgwick among Madoff victims Wednesday, December 31, 2008 @ 1:12PMKevin Bacon and wife Kyra Sedgwick are among the many victims of the massive Ponzi scheme run by the disgraced New York money manager.
  • Country Music shrine to keep historic instruments Wednesday, December 31, 2008 @ 1:12PMNASHVILLE, Tenn.    (AP)—The Country Music Hall of Fame and Museum will get to keep historic instruments from Bill Monroe, Johnny Cash and Mother Maybelle Carter pledged by a man who committed suicide after being accused of defrauding millions from investors….
  • Bernard Madoff set to disclose list of holdings Wednesday, December 31, 2008 @ 1:06PMNEW YORK - Investigators may get a clue today into how much money might be available for victims in the Bernard Madoff scandal. The fallen investment guru is scheduled...
  • Madoff Set to Disclose List of Holdings Wednesday, December 31, 2008 @ 1:00PMBernard Madoff faces to provide account of assets to regulator
  • Report: Madoff spent nearly $1 million on politicians Monday, December 29, 2008 @ 2:18PMBernard Madoff, the New York financial adviser behind an alleged $50 billion Ponzi scheme said to have cost the town of Fairfield $42 million in pension fund investments, spent nearly $1 million since 1991 to gain influence in Washington, according to a nonpartisan campaign finance watchdog group.
  • Readers: Madoff isn’t the only scammer out there Monday, December 29, 2008 @ 2:14PMBernard Madoff. For many people — especially investors who lost everything — it’s a name to stand with the likes of Charles Ponzi.
  • Letters 12/29/08 Monday, December 29, 2008 @ 2:12PMBuzz Wilson, hero At the end of each year, Time Magazine n ominates a man or woman of the year. As a housecleaner and an office assistant, I don’t have that kind of influence, but if I did, I would nominate Buzz Wilson, who passed away this last summer.
  • Credit Suisse clients may have lost £640 mn with Madoff Monday, December 29, 2008 @ 1:28PMLONDON: The clients of Swiss banking major Credit Suisse could have lost nearly one billion Swiss Franc (about £640 million) which they had invested with Wall Street trader Bernard Madoff alleged of committing $50 billion fraud.
  • From white collars to prison stripes: 2008 a banner year for white collar crime Monday, December 29, 2008 @ 1:27PM Tom Petters. Michael Parish. Neulan Midkiff. Robert Beale. Eldon Anderson.
  • PRESS DIGEST - Wall Street Journal - Dec 29 Monday, December 29, 2008 @ 5:41AMDec 29 (Reuters) - The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
  • Recession-proof Yankees keep on spending Sunday, December 28, 2008 @ 1:35AMThe Yankees are flexing their mighty checkbook.
  • Business in Brief Saturday, December 27, 2008 @ 11:52PMMinister of Industry, Trade and Labor, Eli Yishai, signed emergency regulations yesterday evening enabling local authorities, the Israel Electric Corporation and private factories defined as essential industries, such as bakeries, to require their employees to come to work.
  • Mandelson picks a loser on purpose Saturday, December 27, 2008 @ 10:26PMChancing upon Lord Mandelson in the week before Christmas, I asked the business secretary if he could explain what the sense would be in diverting £1 billion or so in public funds to the bank account of Tata, the sprawling Indian conglomerate that owns Jaguar and Land Rover.
  • Brother: Madoff suicide investor lost own money Saturday, December 27, 2008 @ 8:40PMPARIS (AP) — The French financier who killed himself after losing more than $1 billion of his clients’ investments to Bernard Madoff’s alleged fraud also saw his own family’s money disappear, his older brother told The Associated Press on Friday.
  • Two investors talk about losing millions in Madoff scandal Saturday, December 27, 2008 @ 8:10PMSitting at a desk in his immaculate house in Palm City, Neil Friedman calmly pulls out a stack of trade confirmations and account statements from Bernard L. Madoff Investment Securities.
  • Dead investor lost family’s cash to Madoff Saturday, December 27, 2008 @ 12:23PMAssociated Press PARIS — The French financier who killed himself after losing more than $1 billion of his clients’ investments to Bernard Madoff’s alleged fraud also saw his own family’s money disappear, his older brother said Friday.
  • Generosity Lives Even In Tough Times Saturday, December 27, 2008 @ 11:54AMIt would be so easy to jab at wealthy Americans. I thought about that earlier in the week, when I read that the ultra-wealthy were
  • Where did all the money go? Saturday, December 27, 2008 @ 10:46AMIt has become the biggest mystery to emerge from the US$50 billion Bernard Madoff scandal: Where did all the money go?
  • Eric Roth - Hollywood Screenwriter Sues Over Alleged Ponzi Scheme Saturday, December 27, 2008 @ 10:30AMHollywood writer ERIC ROTH has filed suit against his investment manager after reportedly joining STEVEN SPIELBERG as the latest victim of the $50 billion (GBP33.9 billion) ...
  • Slowdown offers Nevada a chance to look inward, plan for long term Saturday, December 27, 2008 @ 10:05AMThat big sigh you hear is Nevada catching its breath.
  • Madoff scandal ripples locally Saturday, December 27, 2008 @ 9:42AMSome Jewish groups in Scranton are feeling the ripple effect from the collapse of New York City financier Bernard Madoff’s alleged Ponzi scheme while others remain protected.
  • Area schools victim of Madoff ponzi scheme Tuesday, December 23, 2008 @ 1:13PMMore than one-million dollars could vanish from Palm Beach County schools.
  • Madoff Victims May Have to Return 6 Years of Profits, Principal Tuesday, December 23, 2008 @ 1:04PMDec. 23 (Bloomberg) -- Like some of Bernard Madoff ’s clients, a Florida restaurant owner was lucky enough to withdraw part of his investment before the money manager allegedly confessed to a $50 billion Ponzi scheme. Now he’s worried he might be asked to give it back.
  • For HSBC, Questions of Vitality Tuesday, December 23, 2008 @ 12:57PMThrough more than a year of giant bailouts and bankruptcies, HSBC was one of the few big banks to emerge with its reputation largely intact, wrote Landon Thomas Jr. and Julie Werdigier of The New York Times. The global financial giant did bet on subprime mortgages — and lost.
  • Madoff Scheme Kept Rippling Outward, Across Borders Saturday, December 20, 2008 @ 12:04PMBernard L. Madoffs fraud, the first worldwide Ponzi scheme, lasted longer, reached wider and cut deeper than anything like it in history.
  • Foundation to Shut Down, Says Madoff Managed Money Saturday, December 20, 2008 @ 11:40AMA huge educational foundation that has given millions to promote biomedical research and human rights says it will close, a victim of the alleged financial fraud orchestrated by Bernard Madoff.
  • Broadcast bits Saturday, December 20, 2008 @ 11:26AMTodd gets White House gig NBC News has picked Chuck Todd as its new chief White House correspondent.
  • Ponzi scheme sparks TV drama on fraud Friday, December 19, 2008 @ 8:07AM Michael Chiklis didn’t lose money in the escalating Bernard Madoff scandal. But he did fall victim to another Ponzi scheme this year. Photo caption: Chiklis
  • Madoff Scandal Could Lead To Tax Losses Nationwide Friday, December 19, 2008 @ 8:07AMEven Uncle Sam might get burned by Bernard Madoff.
  • Consultant grilled on investments Friday, December 19, 2008 @ 8:06AMGREENWICH - Members of the Greenwich Retirement Board pressed their pension consultant Thursday to explain how they let another client invest $42 million in a high-risk pool under the management of Bernard Madoff.
  • Mass. investor saw inside Madoff scam Friday, December 19, 2008 @ 8:03AM(AP:BOSTON) His repeated warnings that Wall Street money manager Bernard Madoff was running a giant Ponzi scheme have cast Harry Markopolos as an unheeded prophet.
  • Board grills pension advisor Friday, December 19, 2008 @ 8:02AMMembers of the Greenwich Retirement Board pressed their pension consultant Thursday to explain how they let another client, the town of Fairfield, invest $42 million in a high-risk pool under the management of Bernard Madoff Douglas Moseley, a partner with Cambridge, Mass.
  • AP Financial NewsBrief at 2:45 a.m. EST Friday, December 19, 2008 @ 8:02AMHONG KONG (AP) _ Asian stocks were mixed Friday after Japan slashed interest rates to almost zero as central banks around the world seek to flood the markets with cheap money to support a troubled global economy.
  • BART director named new board president Friday, December 19, 2008 @ 7:54AMThomas Blalock, the longtime BART director was unanimously elected Thursday to fill the post of board president. Blalock, who has been on the Board of Directors since 1994 and previously served as president in 2000 and vice president in 1999 and 2007, will replace Gail Murray.