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US securities regulators have broadened their investigation into the alleged $8 billion Ponzi scheme run by Allen Stanford, the Texan billionaire, to include brokerage executives who invested their clients’ money in Stanford International Bank products, reports the Financial Times.
The lawsuits filed by the trustee seeking money for Bernard L. Madoff’s fraud victims may be a blow for the defendants — but they are catnip for an obscure breed of Wall Street traders speculating on the outcome of the enormous Madoff bankruptcy case, the New York Times reports.
Mark Madoff's suicide is a tragedy. But if he had life insurance, investigators will be looking into whether there was any funny business involved in purchasing it.
Wall Street veteran Kenneth Langone said the apparent suicide of Mark Madoff, Bernard's oldest son, is the "greatest tragedy" to follow Bernard Madoff's fraud.
The defense attorney for accused Ponzi schemer Allen Stanford says his client is not competent to stand trial next month, and he is asking for a court hearing to prove it.
In addition to Mark Madoff's children being sued—three days before his suicide—by Bankruptcy Trustee Irving Picard, Mark Madoff himself was implicated in another lawsuit Picard filed on Friday.
With the final deadline for litigation having passed at midnight on Saturday, at least 1,000 individual civil lawsuits will now go forward to try to recover more than $50 billion for the victims of the global Ponzi scheme orchestrated by Bernard L.Madoff. The New York Times reports.
Mark Madoff, the older of Bernard L. Madoff’s two sons, was found dead in his Manhattan apartment on Saturday, the second anniversary of the day his father was arrested, the New York Times reports.
Tucked within the Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law mid-summer, are new provisions, gone largely unnoticed by many, with monetary incentives that make it easier for employees to come forward with damaging information about there employer.
The trustee seeking money for victims of Bernard L. Madoff’s fraud has sued Sonja Kohn, an Austrian banker, seeking $19.6 billion in damages and accusing her of masterminding a 23-year conspiracy that played a central role in financing the gigantic Ponzi scheme, the New York Times reports.
Luxist reports that billionaire Formula 1 chief Bernie Ecclestone has turned a nasty black eye from a violent mugging into an advertisement for the high-end watch he lost.
We knew immediately this was going to be the largest fraud ever, by a long shot. And it was. $18 billion. Almost ten times larger than any other Ponzi scheme. It became clear very early that the direct Madoff investors were doomed.
In late 2006, the German engineering giant Siemens, one of world’s largest companies, was engulfed in a corruption scandal.
We got new information today about how the FBI attempted to pursue Steven Cohen at SAC Capital Advisors during its ongoing investigation of insider trading.
So-called marketing trips by senior executives, sponsored by the big investment banks certainly not small research firms like Broadband Research are very common, and are often great trading opportunities, writes John Kinnucan.
As Attorney General Eric H. Holder Jr. promotes his crackdown on financial fraud, it’s worth looking critically at who is being singled out and why that might be. The New York Times reports.
HSBC continued to act for funds that fed money into Bernard Madoff’s Ponzi scheme in spite of repeated warning from the bank’s own executives and outside auditors about the “baffling” and potentially fraudulent structure of the fund, according to a US lawsuit launched against the global bank. The FT reports.
Newly released documents detail 12 years of fits and starts at the Securities and Exchange Commission as financier Allen Stanford was allegedly running a global Ponzi scheme.
Attorney General Eric Holder announced on Monday that federal authorities have charged more than 500 people as a result of what they are calling “Operation Broken Trust,” a nationwide crackdown on investment fraud.
Hong Kong goldsmiths have been sold hundreds of ounces of fake gold this year in one of the most sophisticated scams to hit the Chinese territory’s gold market in decades.