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Ponzi Scheme

Mark Madoff's Family Was Going To Change Name To 'Morgan'

Posted 05.25.2011 | New York

Dealbook has a fascinating examination into who Mark Madoff was before he took his own life. Sources close to Madoff said he was mortified by his ...

Ex-Madoff Workers Plead Not Guilty

AP | Posted 05.25.2011 | Business

NEW YORK — Four former employees of disgraced financier Bernard Madoff pleaded not guilty on Wednesday to charges they were in on his massive fr...

Bernie Madoff Feeling the Heat of Imprisonment From His Son's Suicide

Anthony Papa | Posted 05.25.2011 | New York
Anthony Papa

One of the worst things you can feel while being imprisoned is experiencing the death of a loved one, especially your own flesh and blood. What's even...

Mark Madoff's Body Moved To Gramercy Funeral Home

AP | Posted 05.25.2011 | New York

NEW YORK — The body of Mark Madoff was claimed by a funeral director on behalf of his family Tuesday, one day after his imprisoned father, Berna...

SEC May Charge Allen Stanford's Brokers

Posted 05.25.2011 | Business

HOUSTON: U.S. regulators have notified some brokers who worked for indicted financier Allen Stanford that they may face civil fraud charges, the Fina...

John Elway Invested $15 MILLION With Alleged Ponzi Schemer

AP | Posted 05.25.2011 | Denver

DENVER — Former Denver Broncos quarterback John Elway and his business partner gave $15 million to a hedge-fund manager now accused of running a...

Bernie Madoff Won't Attend Son's Funeral

AP | LARRY NEUMEISTER | Posted 05.25.2011 | New York

NEW YORK — Imprisoned financier Bernard Madoff won't seek to attend his son's funeral out of consideration for the privacy of his son's wife and...

Who's Done More Damage, Bernard Madoff or Alan Greenspan?

John Robbins | Posted 05.25.2011 | Business
John Robbins

Madoff lived high and mighty as a billionaire as long as he kept his Ponzi scheme afloat. Greenspan was revered as long as he kept the party going for the ultra-rich, as long as he kept one bubble after another inflated.

Sean Mueller Gets 40 Years For

AP | Christina Dickinson | Posted 05.25.2011 | Denver

DENVER — A Colorado man who ran a $71 million Ponzi scheme that swindled dozens of investors, including former Denver Broncos quarterback John E...

Fed Charges Over 500 People With Financial Fraud, Uncovers $10.4 Billion

washingtonpost.com | Zachary A. Goldfarb | Posted 05.25.2011 | Business

Federal authorities announced Monday that they had charged hundreds of defendants in "Operation Broken Trust," a 31/2-month effort to stop investment ...

Madoff Trustee Sues JPMorgan, Others For $6.4 Billion

AP | Posted 05.25.2011 | Business

NEW YORK — The trustee trying to recover money for investors cheated by Bernard Madoff is suing JP Morgan Chase for $6.4 billion, saying the ban...

Madoff Trustee Sues UBS, Investors For Ponzi Profits

Posted 05.25.2011 | Business

BANGALORE: The trustee liquidating Bernard Madoff's investment management firm sued UBS AG and various other entities for allegedly profiting from the...

My Talk With Michael Hudson, Part 3

Michael W. Hudson | Posted 05.25.2011 | Business
Michael W. Hudson

However preordained the financial crisis was, it's remarkable how long its architects kept the game going. They managed to sustain the unsustainable for five years -- roughly from 2002 into late 2006.

Chicago Swindler Gets 23 Years For $77M Ponzi Scheme

AP | MICHAEL TARM | Posted 05.25.2011 | Chicago

CHICAGO — Tearful, angry victims of a $77 million Ponzi scheme that targeted hundreds of often working-class Italian-Americans crowded into a Ch...

Bernie Madoff Auction Bidding Reaches Fever Pitch

AP | VERENA DOBNIK | Posted 05.25.2011 | Business

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

Shawn Merriman Sentenced To 12-1/2 Years For $21 Million Ponzi Scheme

Denver Business Journal | Renee McGaw | Posted 05.25.2011 | Denver

Shawn Merriman was sentenced Tuesday afternoon to 12-1/2 years in prison in connection with a $21 million Ponzi scheme. The Aurora man pleaded guil...

Celebrating QE2, Republican Victory, Bush Tax Cuts

Robert Lenzner | Posted 05.25.2011 | Business
Robert Lenzner

All those investors who liquidated stocks for bonds must be licking their wounds after the great reflation of assets was inaugurated this week.

William L. Walters Extradited From Argentina To Colorado in Connection To $23 Million Ponzi Scheme

KDVR | Associated Press | Posted 05.25.2011 | Denver

DENVER - A Colorado man accused of running a Ponzi scheme that took in more than $23 million has been extradited from Argentina to face charges....

William Alden

Bond Billionaire: Fed's Policy Is A 'Brazen' 'Ponzi Scheme'

HuffingtonPost.com | William Alden | Posted 05.25.2011 | Business

The Fed should stop meddling with the economy now, before it does more damage, say two top asset managers. The Fed Reserve Bank's quantitative easing...

ATM Investment Scheme Guilty Plea

Bill Singer | Posted 05.25.2011 | Business
Bill Singer

Moore and Netschi made $80 million claiming that ATMs would generate revenue streams for investors. Talk about something going wrong, how about a majority of the machines sold not even existing?

John Elway Among Victims In $71 Million Ponzi Scheme

Posted 05.25.2011 | Denver

ASSOCIATED PRESS DENVER - A Greenwood Village hedge fund manager, whose threatened suicide in April unraveled an alleged Ponzi scheme involving $71 m...

Madoff Investors Challenge Payback Formula, Ask For Money From Made Up Statements

AP | Posted 05.25.2011 | New York

NEW YORK — Dozens of people who recouped more than their investments in imprisoned financier Bernard Madoff's (MAY'-dawfs) business have asked a...

Ex-Legal Exec Sentenced For Role In Ponzi Scheme

AP | CURT ANDERSON | Posted 05.25.2011 | Business

FORT LAUDERDALE, Fla. — The former chief operating officer at the law firm run by convicted Ponzi scheme operator Scott Rothstein was sentenced ...

SEC: We've Toughened Enforcement Efforts After Madoff Scandal

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — Senators pressed the Securities and Exchange Commission's chief enforcement official Wednesday to explain why the agency has yet to...

Man Admits Running $100 Million Ponzi Scheme

AP | Posted 05.25.2011 | Business

NEW HAVEN, Conn. — Authorities say a former Wethersfield, Conn., resident has pleaded guilty to federal charges he operated a $100 million Ponzi...