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Bernard Madoff

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  • Madoff trustee seeks to return another $322M Monday, 22 Dec 2014 | 7:15 PM ET

    NEW YORK— Investors burned by Bernard Madoff's Ponzi scheme could be getting back more of their money. The trustee in charge of recovering funds for Madoff's victims said Monday he is asking a New York bankruptcy court for permission to distribute another $322 million. Trustee Irving Picard said that if approved, the latest payment would bring the total...

  • 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...

  • Ex-Madoff account manager sentenced to 6 years Monday, 15 Dec 2014 | 5:13 PM ET

    NEW YORK— A former account manager for Bernard Madoff was sentenced Monday to six years in prison for her role in his epic multibillion-dollar fraud, ending a series of proceedings for five former employees that resulted in prison terms dramatically below what prosecutors sought. District Judge Laura Taylor Swain announced the sentence for 53- year-old...

  • 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,...

  • Mendez will face intense scrutiny in the U.S. Senate, where many lawmakers are pressing the SIPC to be more sympathetic to investors. SIPC has come under fire by lawmakers from both parties, after the organization declined to launch a court proceeding to help the victims of Allen Stanford's $7 billion Ponzi scheme try to recover some of their losses.

  • The Securities Investor Protection Corp said it is aware of two websites that it believes are falsely claiming to help protect U.S. and non-U.S. brokerage customers, whether by posing as SIPC or claiming its powers. SIPC said such "phishing" scams involve con artists who trick people into paying up-front fees, providing access to. "It seems to come and go in waves,"...

  • The agency's approval, published in the Federal Register on Wednesday, ends years of controversy about the proposal, which was sparked by multibillion-dollar Ponzi schemes orchestrated by Bernard Madoff and R. Allen Stanford. Wall Street's industry-funded watchdog, the Financial Industry Regulatory Authority, had been pushing to put the so-called "...