The trading scheme uncovered at prominent hedge fund firm Galleon Group last month was widened Thursday to include a number of smaller, less known firms. But it also appears to touch a prominent firm.
Monday, 2 Nov 2009 | Posted By:
Scott Cohn | Source: CNBC.com
Newly released documents in the Bernard Madoff case paint a detailed picture of a feckless Securities and Exchange Commission, and an epic scam artist who was constantly amazed he did not get caught.
Friday, 30 Oct 2009 | Posted By:
Scott Cohn | Source: CNBC.com
Jailed swindler Bernie Madoff said it was "amazing" that he didn't get caught sooner in his multi-billion-dollar Ponzi scheme, and that everything the SEC did to investigate him prior to 2006 was a waste of time, according to a jailhouse interview he gave to SEC Inspector General H. David Kotz.
Friday, 30 Oct 2009 | Posted By:
Scott Cohn | Source: CNBC staff and wire reports
Epic fraudster Bernard Madoff's former outside accountant will plead guilty to criminal charges for his role in the multibillion-dollar Madoff fraud, U.S. prosecutors said Friday.
Wednesday, 28 Oct 2009 | Posted By:
Scott Cohn | Source: CNBC.com
The trustee overseeing the Madoff bankruptcy says the Securities Investor Protection Corporation has paid a record $534 million to Madoff investors, but that amount pales in comparison to the $21.2 billion he now says was stolen in the giant Ponzi scheme.
Wednesday, 28 Oct 2009 | Source: The Associated Press
Trustee Irving Picard, who has so far recovered approximately $1.4 billion related to the Bernie Madoff scandal, will continue with the litigation of Jeffry Picower despite his death, CNBC has learned.
Monday, 26 Oct 2009 | Source: The Associated Press
A man accused of making more than $7 billion off the investment schemes of jailed financial manager Bernard Madoff drowned after having a heart attack, authorities said Monday.
Epic swindler Bernard Madoff shared a prison cell with a 21-year-old drug dealer, and other fellow inmates included a spy and a mob boss when he was sent to prison in July, according to court documents.
Investors defrauded by epic swindler Bernard Madoff added accounting firm KPMG , JPMorgan Chase and Bank of New York Mellon to a civil lawsuit in a New York court.
Tuesday, 20 Oct 2009 | Posted By:
Paul Toscano | Source: CNBC.com
In the past two years, powerful figures in both Washington and Wall Street became household names as the crisis deepened, markets and corporations struggled to survive and the federal government took drastic steps to save the economy. Whether they had a crucial hand in the crisis or were simply in the wrong place at the wrong time may not be clear for years. Now, one year after the roughest stretch for the U.S. economy since the Great Depression, these financial titans have either stepped out of the spotlight or come to the end of their careers, voluntarily or not. So where they now? Click ahead to find out!
The decade that brought us the Enron scandal, the Madoff scandal, the subprime scandal, the Stanford scandal and the great bailout scandal has just two months to run and we have another scandal, the Rajaratnam scandal.
Wednesday, 14 Oct 2009 | Posted By:
Mary Thompson | Source: CNBC.com
Two former investors are suing the Securities and Exchange Commission for $2.4 billion in damages, claiming the agency acted with negligence while examining Bernard Madoff's investment business.
Bernard Madoff got into a fight in the prison yard with another inmate over the stock market – and won, the New York Post reported, quoting eyewitnesses.
One big investor in Bernard L. Madoff’s Ponzi scheme was having trouble getting his money back from Mr. Madoff at least as early as September 2003, according to a court filing on Thursday by the trustee liquidating the Madoff assets.