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Ponzi

JP Morgan Chase, Bernie Madoff's $64.8 Billion Ponzi Scheme and Crime on Wall Street

Dennis M. Kelleher | Posted 12.19.2014 | Business
Dennis M. Kelleher

Despite a deep, close and extremely lucrative relationship that lasted decades, JP Morgan Chase wasn't even required to publicly disclose the information that detailed its complicity in Madoff's scheme, including how much money it made and how.

If You Don't Believe We're Already Back on a Gold Standard, Think Again

Max Keiser | Posted 11.24.2013 | Business
Max Keiser

Surprisingly, a few days later Warren Buffett made the same observation. He said "the Fed is the greatest hedge fund in history." For Warren, this is great. He is on the receiving end of the biggest transfer of wealth in history from workers and savers to borrowers and speculators.

Ponzi Scheme Allegations Roil Amish Town

nytimes.com | Posted 02.26.2012 | Crime

In the Amish and Mennonite communities of rural Sugarcreek, Ohio, Monroe Beachy was a respected financial figure for decades. He is now accused of run...

Rock Legend's Charity Refunds Half Of Ponzi Schemer's Donation

Posted 02.13.2012 | Miami

An environmental nonprofit run by Eagles great Don Henley has agreed to give back half of a $100,000 donation by convicted ponzi schemer Scott Rothste...

JP Morgan May Be Complicit in Madoff Scam

Robert Lenzner | Posted 05.25.2011 | Business
Robert Lenzner

JP Morgan could be "complicit", i.e. aiding and abetting the Madoff Ponzi scheme, by omission -- that is not fulfilling its duty as a fiduciary -- as well as by commission, according to white collar lawyers I have consulted today.

FBI Arrests Two Former Madoff Associates

AP | TOM HAYS | Posted 05.25.2011 | New York

NEW YORK — Two longtime back office employees of Bernard Madoff were arrested Thursday on charges that they helped the disgraced financier dupe ...

Ruth Madoff's Engagement Ring Sold For How Much?

AP | VERENA DOBNIK | Posted 05.25.2011 | New York

NEW YORK — Anyone wanting to walk in the shoes of fallen financier Bernard Madoff was in luck Saturday: Thousands of belongings from his New York Ci...

Scott Rothstein Ponzi Scheme Sentencing: Feds Seek $188 Million In Restitution

AP | Posted 05.25.2011 | Business

FORT LAUDERDALE, Fla. — Federal prosecutors have asked a judge to approve more than $188 million in restitution for victims of the Ponzi scheme ...

Madoff: "Screw the Victims"

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

I just returned from Nino's in Manhattan, where the authors of The Club No One Wanted to Join gathered to discuss their book. They are a group of twenty-nine investors in Madoff's Ponzi scheme.

'Pulitzer's Gold': The Irreplaceable Role Of Investigative Journalism

James B. Steele | Posted 05.25.2011 | Books
James B. Steele

Nobody knows what the future holds for print, but Harris has given us a book that will inspire journalists to pursue public service journalism in whatever format it takes.

Winans Ponzi Link Uncovered In Detroit Fraud Investigation

AP | JEFF KAROUB | Posted 05.25.2011 | Business

DETROIT — Michigan regulators said Thursday that a member of the Winans gospel-music family led a fraudulent, multimillion-dollar investment program...

Should Insider Trading Be Made Legal?

James Altucher | Posted 05.25.2011 | Business
James Altucher

I'm simply raising the question. Could legal insider trading lead to a more efficient market that would ultimately benefit investors and allow investigators to probe elsewhere?

SEC Charges 3 Men In $14 Million Ponzi Scheme That Targeted Haitians In Florida, New Jersey

AP | JENNIFER KAY | Posted 05.25.2011 | Business

MIAMI — Three men are accused of running a Ponzi scheme that scammed more than $14 million from hundreds of Haitian-American investors in South ...

The Greatest Financial Scandals

Business Week | Brian Burnsed | Posted 05.25.2011 | Business

The now infamous dealings of Bernard Madoff, the money manager accused by federal authorities of running a $65 billion Ponzi scheme, have dominated he...

This Week in Cheating: Madoff Sentenced

Jeff Kreisler | Posted 05.25.2011 | Comedy
Jeff Kreisler

Bernie Madoff got 150 years in prison, though he told investors it was 175 years... and they each told two investors it was 190 years... and so on and so on and so on...

The Madoff Twelve

Norb Vonnegut | Posted 05.25.2011 | Home
Norb Vonnegut

Ira Sorkin, defense attorney for Bernard Madoff, requested his client's sentence be limited to twelve years. He cited Madoff's age and thirteen-year l...

Madoff: The Three Amigos

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

What do Bernie Madoff, Ahmed Ghailani, and a captured Somali pirate have in common? They're all locked in the same New York prison.

Is the SEC Awake?

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

The Securities and Exchange Commission barred Bernard Madoff from the securities business. We all feel safer now? Yeah, right.

Top Ten Ways to Spot Financial Fraud

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

Madoff's sense of order was legendary. He probably arrived at the office early just to run the vacuum cleaner. Other cons are similarly fastidious.

Honey, I Shrunk the Kids' Allowance

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

Madoff's preferential treatment of some investors, however, is a big deal. It's a likely blueprint, I think, of the trustee's legal tactics.

Don't Let Madoff Cop a Plea

Aaron Zelinsky | Posted 05.25.2011 | Business
Aaron Zelinsky

For the good of the American people, Madoff's victims, and the American financial regulatory system, Madoff should be tried in open court.

Mini Madoff Scandal Scales New Linguistic Heights

Charles H. Green | Posted 05.25.2011 | Business
Charles H. Green

Another day, another Ponzi scheme. R. Allen Stanford's take: $8 Billion. Not chump change, of course, but neither does it put him in Madoff's league. But the Stanford scandal has set a linguistic record.

The Greatest Ponzi Scheme of All Time

Reese Schonfeld | Posted 05.25.2011 | Politics
Reese Schonfeld

When the President came into office, there were about 278 million people living in America. The national debt was $5.6 trillion. Now there are 307 million of us. The national debt is $10.6 trillion.

Missing Minsky

John Tepper Marlin | Posted 05.25.2011 | Business
John Tepper Marlin

Hyman Minsky didn't live to see how closely this year's meltdowns would follow his predicted scenario, with the Lehman failure being one of several clear Minsky moments.

Make Wall Street Take The Same Deal The Autoworkers Get

Chris Weigant | Posted 05.25.2011 | Business
Chris Weigant

If we're going to minutely examine autoworkers' wages, and dictate the travel plans of one industry we are bailing out, then it seems eminently reasonable to do the same for the banking industry.