A former employee of hedge fund manager J. Ezra Merkin claims Merkin was warned about Wall Street swindler Bernard Madoff years before losing tens of millions of dollars of investors' money in Madoff's Ponzi scheme, according to court papers unsealed Friday.
A federal bankruptcy judge signed off Tuesday on a plan to raise tens of thousands of dollars for victims of the Bernard Madoff fraud by auctioning off pricey New York Mets season tickets owned by the disgraced financier's investment firm.
In an April 9 story about the Bernard Madoff scandal, The Associated Press reported erroneously that real estate developer and publisher Mortimer Zuckerman gave $40 million to Madoff to invest. Zuckerman placed the $40 million in a hedge fund run by J. Ezra Merkin, who then invested that money with Madoff. Zuckerman says he didn't know the money was given to Madoff.
Only one person has gone to jail so far in Bernard Madoff's massive stock fraud: Madoff himself. But that hasn't stopped prosecutors, regulators and victims from going after others who got gloriously rich off his scheme.
Bernard Madoff is still making a market — at least his Citi Field seats are.
A small group of investors took Bernard Madoff to bankruptcy court on Monday, saying the disgraced financier bilked them out of nearly $64 million.
Bernard Madoff's wife has visited him in the Manhattan jail where he has been held since pleading guilty to orchestrating perhaps the biggest Ponzi scheme in history.
New York's attorney general filed civil fraud charges Monday against a hedge fund manager who funneled $2.4 billion to Wall Street swindler Bernard Madoff without telling clients where their money was going.
Another of Bernard Madoff's trophy assets has been seized, this time in the south of France.
Even Bernie Madoff isn't exempt from the real estate slump. The Florida mansion that prosecutors seized from the Wall Street swindler appears to have lost a big chunk of its value since Palm Beach County officials assessed its worth last year at $9.3 million.
Massachusetts' top securities regulator accused a major feeder fund for Bernard Madoff's fraudulent investment scheme of misrepresenting its lack of knowledge about Madoff's operations.
A Connecticut town is suing disgraced financier Bernard Madoff, his family and investment companies because its pension board allegedly lost millions in Madoff's Ponzi scheme.
Bernard Madoff's brother Peter gets access to $10,000 a month for living expenses under an agreement approved Friday in a lawsuit accusing him of swindling a college student.
A Connecticut town is suing disgraced financier Bernard Madoff, his family and two investment companies after allegedly losing millions of pension dollars in Madoff's Ponzi scheme.
Now you can trade your two Ponzis for a Madoff (MAY'-dawf).
The prime Citi Field seats of Bernard Madoff's company could soon be available.
A deal has been reached to sell the part of Bernard Madoff's company that investigators are fairly certain was honestly run, and the company buying the operation said it is confident it isn't acquiring a den of thieves.
Bernard Madoff’s U.K. operations “played a significant role in the operation” of the New York financier’s massive Ponzi scheme, according to a report in The Wall Street Journal.
A Nassau County judge on Wednesday temporarily froze the assets of Bernard Madoff's brother after he was accused in a lawsuit of losing nearly a half million dollars in a trust he administered.
Wall Street swindler Bernard Madoff is a lucky charm for one New York City construction worker. Queens resident Ralph Amendolaro said he saw Madoff's prison number in a newspaper and had a good feeling so he played the last three digits of it in the state lottery's Numbers game. It hit March 15, paying $1,500.
Cohmad Securities Corp. said Tuesday it followed the rules in responding to Massachusetts regulators' complaint that it was slow to answer questions on its ties to Bernard Madoff.
A clearer picture is emerging of how much money might be available to pay back victims of the Bernard Madoff fraud, but while the pot is big it is nowhere near enough to repair all the damage.
More than $1 billion in assets from Bernard Madoff's businesses have been found, a lawyer for the trustee trying to recover money for jilted investors said Monday.
The Internal Revenue Service issued guidelines Tuesday that will allow tax relief and refunds for some Bernard Madoff victims who were levied for investment earnings that turned out to be nonexistent.
Bernard Madoff and his wife had $823 million in assets at the end of last year, including $22 million in properties stretching from New York to the French Riviera, a $7 million yacht and a $2.2 million boat named "Bull," according to a document his lawyers filed Friday.
Regulatory schmegalatory. It's difficult to disclose inequities. People in positions of power bury truth ALL THE TIME. Whistleblowing, as it is called, is painful and destructive to the individual who attempts to bring forth evidence. Kudos for the tenacity.
The American people have had enough of convoluted, indecipherable financial schemes and the opportunists who exploit them.
Duped investors score victory in Madoff situation--Maybe
New York State Attorney General Andrew Cuomo on Monday charged J.
Unfortunately, yes, Toni Bowers. It does happen. One can indeed endure and survive given the courage, strength and tenacity.
The Treasury secretary, Timothy F. Geithner, will outline the broad revamping of the regulatory system, which goes further than expected, in a hearing on Thursday.
The Democratic Senatorial Campaign Committee, which received $100,000 in campaign contributions from disgraced financier Bernard Madoff, has yet to rid itself of the tainted funds that other Washington politicos have rushed to shed since the collapse of Mr.
It was recently pointed out to me that all of the Wall Street people in the news, the bankers of failing banks, the AIG greed mongers, were not only wrong, but male.
A reliable source who is close to both the U.S. Court for the Southern District of New York and the U.S. Attorney's Office for the Southern District of New York's Organized Crime Unit tells WMR that Ponzi scammer Bernard Madoff, who was remanded to prison last week by U.S.
A few months ago, when the economy began to meltdown, a man named Bernard Madoff caught the attention of press for his investment operation that left numerous people holding an empty bank bag. Many of those people had invested all of their personal wealth with Mr.
Those who stole billions in 401(k)s of innocent victims were rewarded handsomely, rarely needing to break the laws their lobbyists purchased. There must be a criminal investigation of the AIG debacle, and it looks as if New York's top lawman is on the case.
An employee who worked in Madoff's legitimate brokerage operations, which were described by the fraudster in his plea agreement as being "successful and profitable," has told The Daily Beast that they were in fact money losers that acted as a front for his Ponzi scheme.
When did the Secretary of State, Tim Geithner learn of the bonuses paid out at AIG from the funds of WE, THE PEOPLE? Last week. When did I write a blog entitled The Brass Monkey regarding the issue of AIG and over leveraging and greed and bridges and Billy goat Gruffs? Months ago.
Ponzi schemer Bernie Madoff is being held in a super-max wing, known as 10 South, on the 10th floor of the Metropolitan Correctional Center in Manhatten..The unit in the federal lockup center is so tough it has driven hardened criminals mad.
With financial crisis and scandal as backdrop, Americans are questioning whether plutocrats are either indispensable or deserving.
The Madoff investigation is very similar to the 9-11 investigation in that evidence of a larger conspiracy is being avoided and ignored.
So here we are looking at a settlement that the United States made with UBS about the Swiss accounts.
This is a quick note... but with all the issues surrounding the economic world I wouldn't be surprised if a vast number of Americans decided to stop investing in the stock market altogether. Why would they? It seems that every day there is another scandal to deal with...
Ruth Madoff is retreating to a $9.4 million beachside redoubt in Florida that the feds will be powerless to seize from her, where she will relax, sun herself, and cackle at her husband's stupid victims.
The Internal Revenue Service will allow victims of Bernard L. Madoff's investment fraud to claim a tax deduction related to the bulk of their losses, the I.R.S. commissioner told the Senate Finance Committee on Tuesday.
Political science majors can be forgiven for recycling Karl Marx's prediction, made 160 years ago, that capitalism would sow the seeds of its own destruction by widening the gap between workers and "capitalists." Since the end of the Cold War and the defeat of communism 20 years …
On a day when Madoff faced hundreds of his investors in a Manhattan courtroom, before being assigned a prisoner number and hauled off to jail, more questions have been raised than have been answered.
I am not an economist just an average joe blow who has taken the task of risking public condemnation for what I am about to write. The second stimulus plan has been passed in America and the world is watching. This in my view is the wrong approach.
Amid the sobs, screams, and curses in Aspen, Palm Beach, and New York, with victims sharing their stories, the author gets behind Madoff's affable façade, to reveal his most intimate betrayals.
Bernard Madoff's new Manhattan home is the size of a walk-in closet, with cinderblock walls, linoleum floors and a bunk bed. Breakfast will be served before sunrise, and the disgraced financier can stretch his legs outside, but only every other day — in a cage.