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Bernard Madoff

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  • 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 "...

  • NEW YORK, Oct 9- A U.S. appeals court ruling on Thursday revived a lawsuit against JPMorgan Chase& Co filed by a former vice president claiming the bank ignored red flags about a client's potential fraud, even after the massive Ponzi scheme operated by Bernard Madoff, another JPMorgan client, was exposed. JPMorgan has rejected Sharkey's allegations and a bank...

  • NEW YORK, Oct 8- George Perez, a former computer programmer for Bernard Madoff who was convicted in March of aiding his boss' massive Ponzi scheme, got support from a noteworthy source this week: Madoff himself. In an email filed in Manhattan federal court by Perez's defense lawyers, Madoff described a meeting in which he said he told Perez and another programmer,...

  • 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.

  • NEW YORK, Sept 22- A federal judge rejected Westgate Capital Management LLC founder James Nicholson's request to shorten his 40- year prison term for running a $140 million Ponzi scheme at his hedge fund firm, likening it to the much larger fraud run by Bernard Madoff.

  • NEW YORK/ WASHINGTON, Sept 5- The U.S. Securities and Exchange Commission will not appeal a recent court decision that thousands of victims of financier Allen Stanford's Ponzi scheme were ineligible under federal law to file claims to recoup their losses, an SEC spokesman said on Friday.

  • Madoff son’s death adds complication for victims Wednesday, 3 Sep 2014 | 5:05 PM ET
    Andrew Madoff as he appeared on NBC News' "Today" show, October 2011.

    For victims of Bernie Madoff's epic Ponzi scheme, Andrew Madoff's death could add new wrinkles to efforts to recover billions in losses.

  • What Andrew Madoff's death means for victims  Wednesday, 3 Sep 2014 | 5:00 PM ET

    CNBC special correspondent Scott Cohn reports on the death of Bernie Madoff's only surviving son, Andrew, and what it means for the ongoing legal battle over his father's Ponzi scheme.

  • Bernard Madoff's son Andrew dies of cancer, age 48 Wednesday, 3 Sep 2014 | 12:49 PM ET
    Andrew Madoff

    Bernard Madoff's younger son Andrew died on Wednesday morning at age 48 of mantle cell lymphoma.

  • NEW YORK, Sept 3- Andrew Madoff, the son of convicted fraudster Bernard Madoff, died on Wednesday from cancer, his lawyer said. "Andrew Madoff has lost his courageous battle against mantle cell lymphoma," lawyer Martin Flumenbaum said in a statement.

  • ANDREW MADOFF, BERNARD MADOFF'S SON, HAS DIED AFTER LONG BATTLE WITH CANCER- SOURCE.

  • Bernie Madoff's son dead at 48  Wednesday, 3 Sep 2014 | 10:51 AM ET
    Andrew Madoff as he appeared on NBC News' "Today" show, October 2011.

    Bernard Madoff's son Andrew has died at age 48 of lymphoma. CNBC's David Faber reports.

  • The trustee Irving Picard contended last month that Andrew and Mark Madoff obstructed a 2005 U.S. Securities and Exchange Commission probe by deleting emails that linked them to fraud at Bernard L. Madoff Investment Securities LLC, and took out sham loans to buy pricey Manhattan apartments.

  • Judge cuts back Madoff trustee lawsuit vs Merkin Wednesday, 13 Aug 2014 | 11:32 AM ET

    NEW YORK, Aug 13- The trustee seeking money for Bernard Madoff's victims suffered his second loss in less than a week to Wall Street hedge fund manager J. Ezra Merkin, as a Manhattan bankruptcy judge dismissed most claims in a roughly $565 million lawsuit.

  • Madoff trustee can't void client settlements: Court Friday, 8 Aug 2014 | 2:18 PM ET
    Irving Picard, Securities Investor Protection Act Trustee, speaks regarding the Bernard Madoff Ponzi scheme, December 17, 2010 in New York City.

    In a setback for the trustee seeking money for the former customers of Bernard Madoff, an appeals court refused to void two settlements.

  • NEW YORK, Aug 8- In a setback for the trustee seeking money for the former customers of imprisoned fraudster Bernard Madoff, an appeals court refused to void two settlements benefiting investors who sued "feeder funds" that sent their money to Madoff.

  • NEW YORK, Aug 8- In a setback for the trustee seeking money for the former customers of imprisoned fraudster Bernard Madoff, an appeals court refused to void two settlements benefiting investors who sued "feeder funds" that sent their money to Madoff.

  • NEW YORK, Aug 7- Former hedge fund manager Samuel Israel, who faked his own suicide to avoid prison after running a $450 million fraud, on Thursday failed to persuade a judge to shorten his 22- year sentence or set him free because prison officials are unable to treat his worsening health.