The Supreme Court ruled Madoff trustee Irving Picard can not sue big banks, and it rejected an appeal of AIG's bailout by former CEO Hank Greenberg.» Read More
NEW YORK, March 17- Like Bernard Madoff's Ponzi scheme itself, the trial of five of his former aides has been virtually unprecedented in its scope. A federal jury of 12 men and women on Monday began deciding whether the defendants are guilty of aiding in Madoff's massive fraud.
WASHINGTON, March 17- A top U.S. audit regulator is sounding the alarm over what she fears may be a false stamp of approval that some accounting firms are using as they market themselves to potential clients.
NEW YORK, March 17- Like Bernard Madoff's Ponzi scheme itself, the trial of five of his former aides has been virtually unprecedented in its scope. A federal jury of 12 men and women on Monday will begin deciding whether the defendants are guilty of aiding in Madoff's massive fraud.
NEW YORK, March 12- Attorneys for five former aides of convicted swindler Bernard Madoff wrapped up nearly 20 hours of closing arguments on Wednesday, capping their courtroom campaign to convince a federal jury that their clients never knowingly joined in their boss's Ponzi scheme.
NEW YORK, March 6- The government's star witness in the criminal trial of five former Bernard Madoff employees is a lifelong liar whose capacity for falsehood rivaled only that of Madoff himself, lawyers for two defendants told a federal jury on Thursday.
Larry Krantz, who represents computer programmer George Perez, said former Madoff lieutenant Frank DiPascali was a "con man's con man" who made a career out of deceiving regulators, customers and auditors.
NEW YORK, March 4- Five former aides of infamous swindler Bernard Madoff used an "avalanche of lies" to help him carry out his decades-long Ponzi scheme, each with a specific role to ensure that investors, auditors and regulators were kept in the dark, a prosecutor said on Tuesday in the closing phase of their trial.
NEW YORK, Feb 27- Ponzi scheme. Bongiorno is one of five former Madoff workers on trial in federal court in Manhattan for abetting his fraud, which fell apart in December 2008, costing investors an estimated $17 billion in principal losses.
*Rules not as strict as bankers' bonus cap in Europe. BRUSSELS, Feb 25- EU lawmakers and member states agreed curbs on fund managers' pay similar to new rules for bankers on Tuesday, including a three-year deferral of 40 percent of bonuses, legislation that could be in place next year.
NEW YORK, Feb 24- Longtime Bernard Madoff assistant Annette Bongiorno on Monday testified that she had no idea her boss was operating a vast Ponzi scheme, despite the decades she spent helping run the trading business where it originated. her lawyer, Roland Riopelle, asked her.
NEW YORK, Feb 21- One of five former Bernard Madoff aides on trial for abetting his massive Ponzi scheme will face two fewer counts when the case goes to a jury, after a judge agreed to throw out charges that he arranged for his son to get a no-show job at the firm.
NEW YORK, Feb 21- More than 9,000 claims from people who say they were defrauded by Bernard Madoff have been submitted to a $4.05 billion fund set up by the U.S. government, and victims of the swindler's Ponzi scheme were given two more months to seek compensation. Richard Breeden, a special master who oversees the Madoff Victim Fund, and U.S.
NEW YORK, Feb 20- Two senior officials at JPMorgan Chase& Co and predecessor companies repeatedly confronted Bernard Madoff over irregularities in his business, a new lawsuit said, suggesting that bank leaders had "direct knowledge" of his Ponzi scheme.
Are big bank leaders like Jamie Dimon the most influential on Wall Street—or activist investors like Carl Icahn?
NEW YORK, Feb 19- Only minutes into the prosecution's questioning of former Bernard Madoff aide Daniel Bonventre at trial on Wednesday, it was clear he was in for a long day.
NEW YORK, Feb 18- In an unusual move, Bernard Madoff's former back-office director took the witness stand in his own defense on Tuesday, telling a federal jury that he had no idea his boss was operating a Ponzi scheme until the day Madoff was arrested in December 2008.
Convicted of defrauding investors, Allen Stanford is serving 110 years in a high-security prison about 40 miles from Orlando, Fla. CNBC's Scott Cohn reports.
NEW YORK, Feb 4- A federal bankruptcy judge on Tuesday approved JPMorgan Chase& Co's $543 million deal to end two private lawsuits stemming from its relationship with convicted Ponzi scheme mastermind Bernard Madoff. JPMorgan will pay $218 million to resolve class-action litigation and $325 million to resolve claims brought by the trustee, Irving Picard.
JPMorgan Chase’s board voted to give Jamie Dimon a new pay package worth about $20 million after his pay was cut in half last year, to $11.5 million.
CNBC's Scott Cohn reports Bernie Madoff had a mild heart attack last month and is now back at his medium security prison in Butner, North Carolina.