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Bernard Madoff

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  • NEW YORK, Jan 14- After more than five years and 15 convictions, the U.S. government's criminal investigation of Bernard Madoff's colossal Ponzi scheme may finally be coming to an end. In court filings on Tuesday and Wednesday, prosecutors in New York asked judges to schedule sentencing dates for key witnesses who pleaded guilty and agreed to help investigators,...

  • Jan 14- A former top executive of Steven Cohen's SAC Capital Advisors LP is close to launching a roughly $1 billion hedge fund in March, the Wall Street Journal reported. Solomon "Sol" Kumin, who was SAC's chief operating officer until January last year, has raised about $1 billion for his Folger Hill Asset Management LLC, the Journal said, citing a person familiar...

  • NEW YORK, Jan 12- Two federal prosecutors who have led several high-profile fraud cases, including the government's criminal investigation of Bernard Madoff, are leaving the U.S. Justice Department to join prominent law firm Boies, Schiller& Flexner, according to an announcement Reuters reviewed before its public release. Matthew Schwartz and John Zach, who...

  • NEW YORK, Jan 12- Two federal prosecutors who have led several high-profile fraud cases, including the government's criminal investigation of Bernard Madoff, are leaving the U.S. Justice Department to join prominent law firm Boies, Schiller& Flexner, according to an announcement Reuters reviewed before its public release. Matthew Schwartz and John Zach, who...

  • NEW YORK, Dec 22- Victims of Bernard Madoff's massive Ponzi scheme will get a fresh $322 million payout if a U.S. judge approves the request by the trustee liquidating the convicted fraudster's firm, bringing the recovery total to more than $7 billion. The trustee, Irving Picard, said on Monday he would seek permission from a U.S. bankruptcy judge in New York to begin...

  • NEW YORK, Dec 15- A former manager at Bernard Madoff's firm was sentenced to six years in prison on Monday for helping her now imprisoned boss carry out his multibillion dollar Ponzi scheme. JoAnn Crupi, 53, was the last of five former Madoff employees to be sentenced after a Manhattan federal jury found them guilty in March in the first criminal trial over...

  • JOANN CRUPI, A FORMER MANAGER AT BERNARD MADOFF'S FIRM, IS SENTENCED TO SIX YEARS IN PRISON--COURT HEARING.

  • NEW YORK, Dec 10- A former computer programmer for Bernard Madoff was sentenced to 2-1/ 2 years in prison on Wednesday for helping the imprisoned fraudster carry out his multibillion dollar Ponzi scheme. The sentencing of George Perez, who worked at Madoff's firm from 1991 until its collapse in 2008, came nine months after a Manhattan federal jury found him...

  • NEW YORK, Dec 9- A former manager and a former computer programmer at Bernard Madoff's firm were sentenced to prison on Tuesday for helping the convicted fraudster run a multi-billion dollar Ponzi scheme. The judge also ordered Bongiorno and O'Hara to forfeit a symbolic $155 billion and $19.7 billion, respectively, jointly with other defendants who worked at...

  • Annette Bongiorno, who worked for Madoff from the 1960 s until the firm's collapse in 2008, was the second of five former employees to be sentenced after being convicted in March of securities fraud, conspiracy and other charges in a Manhattan federal court. District Judge Laura Taylor Swain also ordered Bongiorno, 66, to forfeit $155 billion, a symbolic amount...

  • Longtime Madoff aide Bongiorno gets 6 years in prison Tuesday, 9 Dec 2014 | 12:16 PM ET

    Annette Bongiorno, who worked for Madoff since the 1960 s, was the second of five former employees to be sentenced, following their convictions in March by a Manhattan federal jury of securities fraud, conspiracy and other charges.

  • NEW YORK, Dec 8- Bernard Madoff's former back office director was sentenced to 10 years in prison on Monday for helping the convicted fraudster conceal his massive Ponzi scheme for decades. District Judge Laura Taylor Swain also ordered Bonventre to forfeit more than $155 billion, a symbolic sum for which he would and the other defendants who worked at Bernard L....

  • NEW YORK, Dec 8- Bernard Madoff's former back office director was sentenced to 10 years in prison on Monday for helping the convicted fraudster conceal his massive Ponzi scheme for decades.

  • UPDATE 1-Madoff trustee loses appeal on clawbacks Monday, 8 Dec 2014 | 11:17 AM ET

    The 2nd U.S. Circuit Court of Appeals in New York on Monday said federal bankruptcy law did not let the trustee Irving Picard recoup a variety of securities-related payments that Bernard L. Madoff Investment Securities LLC made to customers before it collapsed on Dec. 11, 2008. "Permitting the clawback of millions, if not billions, of dollars from BLMIS clients-...

  • Madoff trustee loses appeal on clawbacks Monday, 8 Dec 2014 | 10:43 AM ET

    NEW YORK, Dec 8- Victims of Bernard Madoff's fraud may recover less money than they had hoped after a federal appeals court limited the ability of the trustee liquidating the swindler's firm to recoup "fictitious profits" and other transfers from customers. The 2nd U.S. Circuit Court of Appeals in New York on Monday said federal bankruptcy law did now allow the...

  • Five ex-Madoff aides face up to 20 years in prison Sunday, 7 Dec 2014 | 1:00 AM ET

    NEW YORK, Dec 7- Five former employees of Bernard Madoff, convicted in March of helping the fund manager bilk investors of billions of dollars in his massive Ponzi scheme, will be sentenced this week, with prosecutors seeking prison terms of up to 20 years. First up on Monday is former back office director Daniel Bonventre, followed in the coming days by portfolio...

  • Madoff victims' recovery rises to nearly $10.5 bln Tuesday, 18 Nov 2014 | 3:36 PM ET

    NEW YORK, Nov 18- The trustee recovering money for Bernard Madoff's victims on Tuesday announced two agreements to recoup more than $145 million, boosting the total amount raised to nearly $10.5 billion. Irving Picard, the trustee, said he reached a $95 million settlement subject to court approval with Senator Fund SPC, a Cayman Islands "feeder fund" that had...

  • The SEC announced the increase in its Nov. 17 annual report, which tracks the success of the whistleblower program and how much it pays out each year in awards. It authorized awards for nine whistleblowers, including a record payout of more than $30 million to a whistleblower overseas who had helped alert the SEC to what it described as an ongoing fraud.

  • NEW YORK, Nov 17- Former customers of Bernard Madoff may soon recover an additional $496.8 million as a result of a settlement with two "feeder funds" that was announced on Monday by the trustee liquidating the swindler's firm. The settlement, with the Herald Fund SPC and Primeo Fund, both based in the Cayman Islands, is one of the largest obtained by the trustee,...

  • 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.