David Friehling was ordered to pay his share of a $130 billion joint penalty for his role in Bernie Madoff's multibillion-dollar Ponzi scheme.» Read More
Whistleblower Harry Markopolos, whose warnings about the Madoff scandal fell on deaf ears at the Securities and Exchange Commission for years, has provided the SEC's Inspector General with new information about an alleged "mini-Madoff" fraud that is still underway, CNBC has learned.
The names of several thousand clients who lost money investing with Bernard Madoff have been released in a court filing that reads like a Who's Who: former Los Angeles Dodgers pitcher Sandy Koufax, actor Kevin Bacon and even Madoff's defense lawyer.
Hall of Fame pitcher Sandy Koufax. Actor Kevin Bacon. World Trade Center developer Larry Silverstein. All three have at least one thing in common: Their names appear on a list of several thousand clients who lost money investing with Bernard Madoff. The list has been made public in a court filing in U.S. Bankruptcy Court in Manhattan.
As Bernard Madoff awaits his fate inside his Manhattan penthouse, he is getting a new crew to keep him safe.
JPMorgan Chase says that its potential losses related to Bernard L. Madoff, the man accused of engineering an immense global Ponzi scheme, are “pretty close to zero.” But what some angry European investors want to know is when the bank cut its exposure to Mr. Madoff — and why, the New York Times reports.
The number of people who have been caught running Ponzi schemes in recent weeks is adding up quickly, so much so that they have earned themselves a nickname: mini-Madoffs. The New York Times reports.
Bernie Madoff, it seems, has a little bit of obsessive-compulsive disorder. He always ate the same thing and liked everything just a certain way, according to a tell-all interview his London office manager did with the Daily Mail. Oh, he's going to do very well in prison. (Cue the diabolical laugh track)
Here's the latest movie parody invoking Bernie Madoff. The folks at ParodyFilms.tv have taken an Oscar favorite and turned it into - well, the title alone...
Several dozen employees, who work in the legitimate branch of Bernard Madoff's firm, are being laid off, according to The Wall Street Journal.
The trustee overseeing the liquidation of Mr. Madoff’s brokerage firm has asked a federal bankruptcy judge to allow him to cancel leases on six luxury vehicles that the firm had rented, the New York Times reports.
Warren Buffett sat down recently for a taped interview with Susie Gharib of Nightly Business Report to mark the PBS program's 30th anniverary tonight. In the conversation, Buffett hints Berkshire Hathaway might buy back some of its stock since it has fallen so sharply from its highs. He also says the credit crunch is easing but business conditions are getting worse. This is a transcript of that entire interview, as provided to us by NBR.
Warren Buffett says the credit crunch has eased in the last month, but business has "really slowed down" as fearful U.S. consumers cut back on spending. In an interview to air tonight on PBS, Buffett tells Nightly Business Report that the recession won't be ending anytime soon. He also answers questions about Bernard Madoff and the idea of buying back Berkshire Hathaway's stock.
Investing a dollar and getting 10 cents back in return is a bad deal even in today's market. But recovering 10 cents on the dollar might be optimistic for investors who gave their cash to the Ponzi scheme that Bernard Madoff ran.
J. Ezra Merkin, a New York financier, wrote his investors last month that he too was shocked by the news that Bernard L. Madoff’s hedge fund was an elaborate Ponzi scheme.
The New York Times asks whether Ruth Madoff knew of her husband's scheme.
There is at least one stock, though, that Cramer thinks is worth buying.
Stocks ended mixed Tuesday as tech and oil stocks were buoyed by bargain hunting, but the undercurrent of earnings worry took down the Dow.
Stocks wobbled Tuesday, paring some gains, though the tech-heavy Nasdaq remained higher.
From a billionaire in Germany to a broker in Connecticut to fund manager in Korea, the global markets crash has been linked to a growing number of suicides.
Jitters about dismal corporate earnings were confirmed after the bell Monday, when Alcoa kicked off the reporting season with a wider-than-expected loss, sending stock index futures lower Tuesday morning.