Entries tagged "ponzi scheme"

Death of Madoff friend raises questions

Florida investor and philanthropist Jeffry Picower, alleged to have extracted billions dollars in his long time friend Bernard Madoff's Ponzi scheme, died Sunday after he was found at the bottom of his swimming pool.

Dreier airs his dirty laundry

Disgraced attorney Marc Dreier has officially started his comeback -- or at least the public relations blitz designed to help his comeback has begun.

RBC Capital's dating disaster

A former trader at RBC Capital Markets was fired for dating an alleged Ponzi schemer and is now suing her former boss for gender discrimination.

Madoff's beach house sells above asking price

Bernard Madoff's Montauk Long Island house sells for more than the asking price.

Fraudster Stanford gets public defender

Although a judge forced accused Ponzi schemer Allen Stanford to take a public defender, the government wants to add private criminal defense attorney Kent Schaffer to the case as well.

Many profited from Madoff's Ponzi scheme

Everyone connected to Madoff's fundraising operation was getting such good kickbacks that it wasn't in their interests to worry about any warning signs, writes Erin Arvedlund in 'Too Good to be True.'

Alleged fraudster Pang dies

California financier Danny Pang, accused by the government of defrauding investors out of millions and under house arrest, will not have his day in court because he died Saturday.

Madoffism becomes a world phenomenon

The U.S. aside, even tiny Lebanon has a Bernie Madoff character, who may have harmed its economy far worse.

Pornographer busted for faking it

Pornography purveyor Philip Barry was running a financial Ponzi scheme with inflated and faked promised returns.

SEC finds it dropped the ball on Madoff

Bernie Madoff swindled investors underneath the noses of the SEC. A report finds the agency was simply incompetent, had a healthy helping of poor follow-up, with a dash of gullibility.

Cerberus' troubles shed light on Madoff feeder funds

Problems at Cerberus may provide a rare glimpse into the difficulties facing Bart M. Schwartz, the trustee charged with unwinding funds managed by J. Ezra Merkin.

Blood brothers forever: Stanford and King

R. Allen Stanford and Leroy King, the Antiguan chief banking supervisor who helped him perpetrate his alleged $7 billion Ponzi scheme, cut their wrists and mixed their blood in a 'brotherhood ceremony.'

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