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Bernard Madoff

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  • ST. LOUIS/ WASHINGTON, Feb 12- Clashes over strategy within JPMorgan Chase& Co's compliance operations have led to the departure of a series of managers in the past year, according to three of those who have left. The moves are being watched closely by the rest of Wall Street and could be adopted more widely if JPMorgan is successful in keeping compliance costs under...

  • Payout to Madoff victims tops $7.2 bln Monday, 9 Feb 2015 | 11:59 AM ET

    NEW YORK, Feb 9- The trustee liquidating Bernard Madoff's firm on Monday said he is distributing another $355.8 million to the swindler's victims, bringing the total payout to more than $7.2 billion. Irving Picard, the trustee, said the payout began on Feb. 6, and covers claims by fraud victims with 1,077 accounts at the former Bernard L. Madoff Investment...

  • In new emails, Madoff defends his dead sons Friday, 23 Jan 2015 | 3:42 PM ET
    Bernard Madoff walks out of federal court after a bail hearing in New York on Jan. 5, 2009.

    Bernard Madoff is insisting he acted alone in his epic fraud, according to new emails from the convicted Ponzi scammer.

  • Madoff defends dead sons Friday, 23 Jan 2015 | 1:34 PM ET
    Madoff defends dead sons

    Bernie Madoff has responded to trustee representing fraud victims and defends his dead sons, Mark and Andrew, reports CNBC's Scott Cohn.

  • 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...

  • Madoff trustee seeks to pay $322M to investors Monday, 22 Dec 2014 | 2:00 PM ET
    Bernard Madoff walks out of federal court after a bail hearing in New York on Jan. 5, 2009.

    The trustee rounding up funds for Madoff victims is seeking court approval to return another $322 million, bringing the total to more than $7 billion.

  • This time is different? Hedge funds in '08 vs. now Monday, 1 Dec 2014 | 1:24 PM ET
    Don Steinbrugge

    One pro says the hedge fund industry has put in safeguards to make sure the next crisis is nowhere near as bad as the last.

  • 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.

  • 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.

  • 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
    What Andrew Madoff's death means for victims

    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.

  • 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.

  • 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.

  • Court deals blow to Stanford Ponzi scheme victims Friday, 18 Jul 2014 | 12:09 PM ET
    Indicted financier R. Allen Stanford exits the Bob Casey Federal Courthouse in Houston, Texas.

    A U.S. court ruled that victims of Allen Stanford's Ponzi scheme are not eligible under federal law to file claims seeking compensation.

  • Andrew Madoff responds to new allegations Tuesday, 15 Jul 2014 | 3:11 PM ET
    Andrew Madoff responds to new allegations

    Bernard Madoff's son, Andrew Madoff, responds to new allegations from trustee Irving Picard that he knew of his father's fraud. CNBC's Scott Cohn reports the details.

  • Lawsuit alleges Madoff sons knew of fraud Tuesday, 15 Jul 2014 | 2:26 PM ET
    Bernard Madoff in 2009

    New allegations say that Bernie Madoff's sons knew much more about their father's Ponzi scheme than they originally claimed.