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Bernard Madoff

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  • In April, The New York Times reported that State Department lawyers favored supporting Jordan- based Arab Bank in the case in part because Jordan is a U.S. ally, but that the Justice Department and Treasury Department were inclined to avoid taking sides.

  • The Obama administration is supporting big banks saying that the Supreme Court should not hear a case that would allow Madoff trustee, Irving Picard to seek billions in damages, reports CNBC's Scott Cohn.

  • NEW YORK, May 13- A U.S. fund to compensate victims of Bernard Madoff's Ponzi scheme has received roughly 51,700 claims seeking to recoup more than $40 billion, totals far higher than expected, the official in charge of the fund said on Tuesday.

  • Investors seek over $40 bln from Madoff victim fund Tuesday, 13 May 2014 | 2:19 PM ET

    NEW YORK, May 13- The overseer of a U.S. fund to compensate victims of Bernard Madoff's Ponzi scheme on Tuesday said he has received roughly 51,700 claims seeking to recoup more than $40 billion, both totals far higher than expected.

  • NEW YORK, May 7- Samuel Israel, a hedge fund manager who faked his own suicide to avoid prison after admitting to running a $450 million fraud, is trying to shorten his 22- year sentence or be set free, saying his health has worsened and authorities can't take care of him.

  • WASHINGTON, May 7- Americans convicted of fraud and other white-collar crimes gained a new defender on Wednesday as an advocacy group that has long fought strict drug sentences launched a campaign pushing for lighter punishment for financial crimes.

  • NEW YORK, May 6- Morgan Stanley Chief Executive James Gorman said on Tuesday that he does not believe more bankers should have gone to jail for the financial crisis.

  • Nearly $6B returned to Madoff's victims so far Monday, 5 May 2014 | 12:16 PM ET
    Bernard Madoff, founder of Bernard L. Madoff Investment Securities LLC, leaves federal court in New York, U.S., on Tuesday, March 10, 2009.

    Irving Picard, the trustee liquidating Bernard Madoff's firm, said that the fourth payout will go to Madoff's victims of the Ponzi scheme.

  • NEW YORK, May 5- The trustee liquidating Bernard Madoff's firm on Monday began distributing another $351.6 million to the swindler's former customers, boosting the amount recouped to nearly $6 billion.

  • NEW YORK/ ST LOUIS, May 2- The U.S. Treasury Department has frozen all recruitment by its anti-money laundering arm and forced the agency to rescind 11 job offers, after an investigation found it violated the federal employment code during an aggressive hiring push, according to several government officials.

  • Ex-Madoff aides ask judge to toss convictions Wednesday, 16 Apr 2014 | 1:59 PM ET
    Daniel Bonventre, age 67, who served as Director of Operations for Madoff Investment Securities, leaves federal court after being found guilty of charges of aiding, assisting and profiting from the Ponzi scheme run by Bernard Madoff on March 24, 2014 in New York City.

    Five former Bernard Madoff aides have asked a US judge to throw out their convictions, after a jury found them guilty of fraud and conspiracy.

  • Former Madoff aides seek to have convictions tossed Wednesday, 16 Apr 2014 | 12:54 PM ET

    NEW YORK, April 16- Five former Bernard Madoff aides have asked a federal judge to throw out their convictions, three weeks after a jury found them guilty of fraud and conspiracy for helping Madoff conceal his multibillion-dollar Ponzi scheme.

  • Private equity, hedge funds come under SEC scrutiny Monday, 7 Apr 2014 | 7:16 AM ET

    The SEC has put together a group to examine private equity and hedge funds, after the 2010 Dodd-Frank law required the funds to be regulated.

  • The SEC regularly examines a wide range of financial institutions including brokerages and clearing houses to ensure compliance with federal securities laws. The SEC already has examiners who specialize in funds, but historically the agency has focused on public asset managers such as mutual funds that have been highly regulated since 1940..

  • NEW YORK, April 2- A New York state judge has dismissed a lawsuit brought by an investor in a fund managed by Tremont Group Holdings, one of the largest feeders of funds into Bernard Madoff's Ponzi scheme.

  • Madoff trustee sees victims' payout nearing $6 bln Tuesday, 25 Mar 2014 | 5:04 PM ET

    NEW YORK, March 25- Former customers of Bernard Madoff will have recouped nearly $6 billion of their money if a federal bankruptcy judge approves the latest payout request by the trustee liquidating the swindler's firm.

  • NEW YORK, March 24- When it came down to it, the evidence was simply too overwhelming. "It was the overall picture," said Sheila Amato, an art teacher from Rockland County, a suburb of New York City.

  • NEW YORK, March 24- Five former aides to investment manager Bernard Madoff were convicted on Monday of charges that they helped their boss conceal his multibillion-dollar Ponzi scheme for years.

  • NEW YORK, March 24- Five former aides to investment manager Bernard Madoff were convicted on Monday of charges that they helped their boss conceal his multibillion-dollar Ponzi scheme for years.

  • NEW YORK, March 24- Five former aides to investment manager Bernard Madoff were convicted on Monday of charges that they helped their boss conceal his massive Ponzi scheme for years.