Entries tagged "Ponzi schemes"

Scandal's big week

It's been a busy week for Bernie Madoff, Allen Stanford and the rest of Wall Street's biggest crooks.

Stanford blows off SEC

Citing his Fifth Amendment privileges, alleged fraudster R. Allen Stanford refuses to cooperate with the SEC investigation of his firm Stanford Financial.

Madoff to plead guilty Thursday

The attorney for the mastermind of an alleged $50 billion Ponzi scheme told the court to expect his client to plead guilty on Thursday.

Madoff trustee to pay claims

The trustee recovering assets of accused swindler Bernard Madoff has approved 12 claims from investors, and will pay each of them $500,000.

Stanford employees go unpaid

While employees of Stanford Financial go unpaid, CIO Laura Pendergest-Holt, who was the first person arrested in the alleged fraud, appeared before a judge.

Deutsche's Khuzami to be SEC enforcement chief

The former prosecutor, who put away Patrick Bennett for a $1 billion Ponzi scheme in the 1990s, will oversee the SEC's division of enforcement.

Pols give up fraudster's money

Politicians are running away from Allen Stanford's campaign contributions faster than the fraudster could go on the lam.

Keep your money under the mattress

Hollandia International has created a mattress with a built-in safe to help you sleep easier.

SEC shuts down another possible fraud

The Securities and Exchange Commission acted to end an $8 billion "massive ongoing fraud," allegedly perpetrated by Robert Allen Stanford.

Ruth Madoff caught with hand in cookie jar

The wife of the alleged fraudster, Ruth Madoff, withdrew $5.5 million on Nov. 25 and another $10 million on Dec. 10, the day before her husband's arrest.

Mary Schapiro: SEC 'to act like our hair is on fire'

Mary Schapiro, the new head of the SEC, is taking steps to beef up regulation over Wall Street institutions and uncover Ponzi schemes quickly.

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