Crime Bernard Madoff


  • NEW YORK— In a television competition between notorious criminals, O.J. Simpson topped Bernard Madoff. ABC's two-part movie on Madoff, which starred Richard Dreyfuss as the swindler, had more viewers watching when it originally aired than the Simpson premiere, but far fewer who caught it later. Typically the year's most-watched event, the Super Bowl had just...

  • NEW YORK, Feb 8- Wall Street villains are having their big moment on both television and the big screen. This is being reflected in the battle to be the next U.S. president, particularly as Hillary Clinton defends herself from accusations she will be soft on Wall Street because of the money she has received from bankers and hedge fund managers.

  • JPMorgan's Dimon, others defeat Madoff fraud appeal Wednesday, 6 Jan 2016 | 11:11 AM ET

    NEW YORK, Jan 6- JPMorgan Chase& Co shareholders cannot pursue a lawsuit to force Chief Executive Jamie Dimon and other officials to pay damages to the largest U.S. bank for their alleged ignorance of red flags signaling Bernard Madoff's Ponzi scheme, a federal appeals court ruled on Wednesday. The Steamfitters Local 449 Pension Fund in Pittsburgh and the...

  • Dec 16- Two former hedge fund managers were sentenced to 45 months in prison, for misleading investors into investing more than $500 million in their fraudulent hedge fund business, said the U.S. Attorney's Office on Wednesday. Gabriel Bitran, 70, a former professor at the Massachusetts Institute of Technology and his son Marco Bitran, 40, a Harvard Business...

  • NEW YORK, Dec 4- The trustee liquidating Bernard Madoff's firm on Friday began distributing another $1.19 billion to victims of the swindler's Ponzi scheme. Irving Picard, the trustee, said the payout will boost distributions to more than $9.16 billion. Picard said he will make individual distributions ranging from $1,298 to $202 million.

  • NEW YORK, Nov 18- Victims of Bernard Madoff's Ponzi scheme can expect to soon receive about $1.42 billion to help cover their losses, after two U.S. judges on Wednesday authorized the payouts. In the first payout, customers who invested directly with Madoff will receive about $1.18 billion from Irving Picard, the trustee liquidating Bernard L. Madoff Investment...

  • Madoff victims to soon recoup another $1.18 billion Wednesday, 18 Nov 2015 | 12:38 PM ET

    NEW YORK, Nov 18- The trustee recouping money for victims of Bernard Madoff's Ponzi scheme will soon distribute another $1.18 billion to cover their losses, after receiving a federal judge's approval to make the payout. Bankruptcy Judge Stuart Bernstein in Manhattan on Wednesday authorized the trustee Irving Picard to release $1.5 billion from reserves.

  • Nov 13- Ernst& Young LLP was found liable on Friday by a Washington state jury for the losses of an investment firm from the collapse in 2008 of fraudster Bernard Madoff's multibillion dollar Ponzi scheme. A jury in Seattle sided with FutureSelect Portfolio Management Inc in finding the auditing firm was negligent in its work for funds that funneled money to...

  • NEW YORK, Oct 20- The trustee recouping money for victims of Bernard Madoff's multibillion-dollar Ponzi scheme sought approval on Tuesday to release $1.5 billion from legal reserves, potentially boosting the total payout to $9.13 billion. Irving Picard, the trustee appointed to oversee the liquidation of Bernard L. Madoff Investment Securities LLC, said the...

  • NEW YORK, Oct 9- JPMorgan Chase& Co on Friday won the dismissal of a U.S. whistleblower lawsuit filed by a former vice president who claimed the bank ignored red flags about a client's potential fraud, even after authorities exposed the massive Ponzi scheme operated by longtime JPMorgan client Bernard Madoff. Instead, he said, JPMorgan had shown there were...

  • GENEVA, Sept 4- Five former Geneva wealth managers have paid "substantial compensation" to settle criminal complaints brought by clients whose assets they had invested with U.S. fraudster Bernard Madoff, the Geneva prosecutor's office said on Friday. The case was launched in 2009 against five directors of Aurelia Finance, a Geneva- based private bank that...

  • GENEVA, Sept 4- Criminal complaints in a case related to U.S. fraudster Bernard Madoff have been dropped after "strong compensation" was agreed for the victims, the Geneva prosecutor's office said on Friday.

  • Huge pension finally turning to hedge funds Friday, 10 Apr 2015 | 2:06 PM ET
    United Nations headquarters building in New York

    The United Nations' $52 billion pension fund is getting close to investing in hedge funds for the first time.

  • In new emails, Madoff says fraud wasn't so bad Tuesday, 7 Apr 2015 | 2:53 PM ET
    Bernard Madoff leaves U.S. Federal Court after a hearing regarding his bail on Jan. 14, 2009, in New York.

    Bernie Madoff is insisting that the extent of his crimes is not nearly as bad as the media and the court-appointed trustee are making it out to be.

  • In new emails, Madoff defends his dead sons Friday, 23 Jan 2015 | 3:42 PM ET
    Bernard Madoff walks out of federal court after a bail hearing in New York on Jan. 5, 2009.

    Bernard Madoff is insisting he acted alone in his epic fraud, according to new emails from the convicted Ponzi scammer.

  • Madoff defends dead sons Friday, 23 Jan 2015 | 1:34 PM ET
    Madoff defends dead sons

    Bernie Madoff has responded to trustee representing fraud victims and defends his dead sons, Mark and Andrew, reports CNBC's Scott Cohn.

  • Madoff trustee seeks to pay $322M to investors Monday, 22 Dec 2014 | 2:00 PM ET
    Bernard Madoff walks out of federal court after a bail hearing in New York on Jan. 5, 2009.

    The trustee rounding up funds for Madoff victims is seeking court approval to return another $322 million, bringing the total to more than $7 billion.

  • This time is different? Hedge funds in '08 vs. now Monday, 1 Dec 2014 | 1:24 PM ET
    Don Steinbrugge

    One pro says the hedge fund industry has put in safeguards to make sure the next crisis is nowhere near as bad as the last.

  • Madoff recoveries top $10 billion with new deal Monday, 17 Nov 2014 | 2:03 PM ET
    Bernard Madoff in 2009

    The court-appointed trustee rounding up funds for victims of the Madoff Ponzi scheme says the total recovered now tops $10 billion.

  • Madoff son was under scrutiny until the day he died Monday, 29 Sep 2014 | 7:32 AM ET
    Andrew Madoff in 2011

    Bernard Madoff's son was under investigation for involvement in his father's Ponzi scheme until the day he died from cancer earlier this month.