Bernard Madoff

Some infamous ponzi schemes

Abnormally high returns, despite all the warning signs, is a promise that investors have always fallen prey to.

Madoff firm trustee wins right to pay $2.4 bn to victims

The Madoff firm trustee won approval from a judge on Wednesday to make a second payment that could reach USD 2.4 billion to former clients of epic conman Bernard Madoff.

US urges 230 years prison for Allen Stanford

US prosecutors urged a judge on Wednesday to send convicted financier Allen Stanford to prison for 230 years, calling him a "ruthless predator" whose USD 7 billion Ponzi scheme was among the most egregious frauds ever undertaken.

Ex-Madoff employee admits faking labor, tax records

While former trader David Kugel was helping conman Bernard Madoff fabricate stock trades, his son Craig Kugel was giving US authorities false information about who worked at the now-defunct Madoff firm.

Madoff wives to face trustee claims in Ponzi case

The trustee seeking money for victims of Bernard Madoff's Ponzi scheme, who lost an estimated USD 20 billion, may pursue claims against wives of the imprisoned swindler's sons, a US federal court judge said on Wednesday.

Madoff trustee's loss calculation method upheld

A US appeals court on Tuesday upheld a method developed by the trustee liquidating Bernard Madoff's firm for determining how to calculate investor losses.

Madoff 'feeder funds' agree $1bn settlement

Companies accused of aiding Bernard Madoff's vast pyramid scheme have agreed to pay more than USD 1 billion to settle a fraud lawsuit, the trustee charged with recovering Madoff's funds said today.

UBS wins review of Madoff trustee's $2.6 bn suits

UBS AG won review of USD 2.6 billion of lawsuits brought by the trustee liquidating Bernard Madoff's firm, at least the fourth time a bank has obtained access to that court.

Madoff trustee seeks $19 bn from JPMorgan

The trustee seeking money for Bernard Madoff's victims is now seeking USD 19 billion from JPMorgan Chase & Co, tripling the amount he hopes to recover from what was once the imprisoned Ponzi schemer's main bank.

HSBC agrees $62.5m Madoff lawsuit settlement

HSBC said it agreed to pay USD 62.5 million to settle a class action brought against it in the United States over its role in providing administrative services to a fund which placed cash with Wall Street swindler Bernard Madoff.

In plea, ex-Madoff man admits falsifying records

A former employee at convicted financier Bernard Madoff's firm admitted to adding fake employees to the payroll and creating fraudulent accounts, part of a plea deal on Monday over bank fraud and other charges.

Madoff's underwear fetch $200 at Florida auction

Underpants belonging to Wall Street swindler Bernard Madoff were among items sold during the weekend at an auction held under the auspices of the US Marshals Service.

Judge to move part of UniCredit Madoff trustee suit

A US judge said he will take over at least a portion of a USD 19.6 billion lawsuit accusing Italian bank UniCredit of helping convicted fraudster Bernard Madoff orchestrate his Ponzi scheme.

Madoff's wine fetches $41,530 for Ponzi victims

The eclectic wine and spirits collection belonging to imprisoned Ponzi schemer Bernard Madoff fetched USD 41,530 at an online auction held on Wednesday.

Madoff's wine, minibar stash to be auctioned

Bernard Madoff's wine collection hits the auction block on Wednesday, where bidders can scoop up everything from a case of fine Bordeaux to a 2-ounce bottle of vodka with a stained label.

Madoff stumble complicates SEC's money pitch

New missteps in response to the epic fraud of Bernard Madoff threatened to undermine the US Securities and Exchange Commission's pitch for more money before a trio of congressional committees on Thursday.

Watchdog probing if SEC lawyer had Madoff conflicts

The top watchdog at the US Securities and Exchange Commission has launched an investigation into whether the agency's senior lawyer should have been allowed to handle Bernard Madoff matters even though his deceased mother had invested with the convicted swindler.

Citi tried to hand off Madoff exposure: Lawsuit

Citigroup Inc tried to pass on its exposure to Bernard Madoff to other banks just months before his epic fraud was revealed, the Madoff trustee said in a lawsuit accusing a second major US bank of unsavory dealings with the financier

Hedge funds, banks pile into Madoff claims market

Hedge funds and banks are piling into the secondary market for claims against fraudster Bernard Madoff, buoyed by the trustee's success in recouping victim's cash, one of Britain's biggest hedge fund market makers said.

Top JPMorgan execs were warned about Madoff : Trustee

JPMorgan Chase & Co executives were concerned that Bernard Madoff was running a Ponzi scheme, but they silently stood by for years to protect the bank's investments, the trustee for Madoff's investors said.

JPMorgan ignored suspicions about Madoff - lawsuit

JPMorgan Chase & Co executives stood by silently as their client Bernard Madoff ran his epic Ponzi scheme, hoping to protect the bank's investments and continue doing business with him, a newly released USD 6.4 billion lawsuit claims.