In a setback for the trustee seeking money for the former customers of Bernard Madoff, an appeals court refused to void two settlements.» 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 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.
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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.
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.
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JPMorgan reported a drop in profit after paying penalties to the government for not reporting suspicions of fraud by Bernie Madoff.
The federal judge presiding over the liquidation of assets related to Bernard Madoff's Ponzi scheme has died.
The U.S. Justice Department plans additional enforcement actions against banks that do not have enough safeguards against money laundering.
JPMorgan Chase plans to sell or exit its business of issuing prepaid cards for corporate payrolls, government tax refunds and benefits.
CNBC's Scott Cohn reports on the settlement between U.S. authorities and JPMorgan Chase over its alleged role in Bernard Madoff's Ponzi scheme.
U.S. Attorney Preet Bharara tells a news conference why JPMorgan is settling charges related to the Bernie Madoff ponzie scheme.