A once high-flying concert promoter of acts such as Aerosmith, Elton John and Shania Twain could face contempt charges for failing to show up in Miami for a Securities and Exchange Commission fraud case that has spawned a multimillion-dollar lawsuit against Paris Hilton.
An 82-year-old businessman was charged Thursday with running a Ponzi scheme that took in at least $17 million from a clientele gleaned largely through ads in Catholic newspapers.
You know how when all the water finally evaporates from your dirty, clogged sink, you get to see how many roaches were really drowned in there? That's how Wall Street is now, with frauds!
I also read yesterday that one in five Americans aged 18-34 is obese! Yes, I have noticed the spread widening on Americans as we sidle up to yet our next buffet or super-sized fast food meal.
Is this taxpayer money? Is it necessary? Aren't people losing their homes, jobs, health care, relationships, assets, credit lines, etc.? Can't you find a better way to dispose of a cool million? I have absolutely nothing against Boston.
Let's face it: American Express is in obvious trouble. Not too many of us feel sorry for the wishy-washy lawyer-esque draconian tactics they've recently deployed. Let the King of Doublespeak get their credit rating cut, too. Fair is fair.
In April 2003, former U.S. Vice President Dan Quayle, chairman of Cerberus Global Investments, rallied support in Tokyo for the Aozora bid.
WMR has also learned that a key element in Madoff's Ponzi scheme was Madoff Energy LLC, formed as a Delaware corporation in February 2007. Other Madoff firms in the energy arena were Madoff Energy Holdings LLC, Madoff Energy III LLC, and Madoff Energy IV LLC.
To carry out the elaborate scheme, prosecutors in New York said on Friday, the man, identified as Paul Gabriel Amos, 37, a Nigerian citizen who lived in Singapore, worked with others to create official-looking documents that instructed Citibank to wire the money in two dozen tran …
When it rains, it pours and the worms come out of their holes. The ground is saturated and when there's one... there are hundreds more. THIS, people, is the reason that the financial mess has happened. Absolute power corrupts. GREED has possibly killed our American Dream.
Feb. 11 (Bloomberg) -- Bernard Madoff's wife withdrew $15.5 million from a brokerage account at a firm co-owned by her husband late last year, including $10 million on the eve of his arrest, Massachusetts securities regulators said.
This is going to be a legal boxing match. The plaintiff's hopefully have a solid SWOT analysis of how to wear this Big Blue Box of Lawyers down. The tone from their announcement in this recent Litigator of the Week is a 1, 2, 3 wham, bam, pow to AmEx.
When you talk about six degrees of separation, this is one man you don't want in your downline. Perhaps Kevin Bacon was prophetic and who knew he'd clash directly with man without a soul or conscience.
A recent blog post on Perot Charts suggests that Social Security is presently operated much like a Ponzi scheme. What do you think? I can certainly see the similarities.
Harry Markopolos, the derivatives whiz and private investigator who uncovered the Bernie Madoff scandal, came straight from central casting: geeky, with too-big glasses and a prominent comb-over.
Unfortunately, there are too many American Express Financial Adviser rip-off stories, including a murder of an elderly Arizona client.
By AMIR EFRATI The names of thousands of clients who invested money with Bernard Madoff were made public Wednesday -- including legendary pitcher Sandy Koufax and Mr. Madoff's own lawyer, Ira Sorkin, who is defending him on charges that he ran a $50 billion Ponzi scheme.
Today, I watched the SEC regulators actually try to claim "executive branch immunity" in order to not answer tough questions coming from the House Financial Services subcommittee regarding the Bernard Madoff case.
162 pages of customer accounts in small print!
Harry Markopolos, a whistleblower who struggled for a decade to get regulators to stop the operations of disgraced money manager Bernie Madoff, slammed the Securities and Exchange Commission in his first appearance before Congress. TheCapitalist
Kim Bouck is wary of the fine print on the "free" ticket offer by American Express. So she gets a few of the company's promises in writing. When the promises are broken, however, American Express backtracks -- and she's left ticketless. What now?
The mysterious Black Card isn't really that mysterious at all. If you've managed to steal 50 BILLION dollars, your invitation call is just moments away.
Yes, lawyers are at the top of every corporate ladder and even hired as consultants for the largest conglomerates.
In 1940, there were 42 workers per retiree, in 1950 there were 16, today there are three and in 20 or 30 years there will be two or fewer workers per retiree. Social Security is unsustainable because it is not meeting the first order condition of a Ponzi scheme, namely expanding …
A small business owner's American Express business card limit was cut in half. It's a card he depends on, just like AmEx's advertising push counted on, to cover short-term cash flow needs.
March 27, 2008, General Electric Co. reached separate deals Thursday with American Express Co. and Spain's Banco Santander, getting $1.1 billion in cash and an Italian banking operation in return for selling its corporate card business and various European personal-finance units.
Since AmEx sponsored and K&K; C. chaired... that means the taxpayers didn't get invited to the fancy-schmancy European extravaganza. How much was your flight, Kenny? Who paid for that, Kenny?