Bernard Madoff, the author of the biggest Ponzi scheme in history, told inmates at the Butner prison where he is serving his 150 years jail sentence that his victims deserved what happened to them, because they were rich and greedy, according to an article in New York Magazine.
Congress could have passed a more sweeping jobs bill with larger bipartisan support if Democrats had been more willing to work with Republicans, Sen. Charles Grassley told CNBC.
The New York Attorney General's office is filing civil charges against Bank of America and its former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch when it acquired the Wall Street bank in late 2008.
A group of investors in Allen Stanford's alleged Ponzi scheme are demanding a powerful Texas congressman give them the same kind of support he showed Stanford when regulators shut down the alleged scam in February.
A federal judge has denied an emergency request by attorneys for indicted billionaire Allen Stanford to free their client on bail.
In the coming decade, Linux and other open source implementations will continue their migration from back office transaction processing and mission critical applications to the mobile and desktop computing spaces. This will transform the nature of communications and computing devices from static and utilitarian to dynamic and intelligent, writes Keith Bergelt, CEO of Open Invention Network.
Supreme Court justices took up a case on Monday that could reshape the realm of what can be patented, and expressed skepticism about giving protection to abstract business innovations.
In the wake of the financial crisis and its attendant repercussions across the global economy, the U.S. Congress stands poised to address the issue of patent reform, writes Keith Bergelt, CEO of Open Invention Network.
Disgraced financier Bernard Madoff's longtime auditor has entered a guilty plea in a federal court in Manhattan.
The world can be a rough place for independent inventors. They can often find themselves in court, battling big corporations, spending piles of money on lawyers and leaving it up to judges and juries to determine the value of their hard-won patents.
A recent court ruling that forced two ratings companies to defend fraud claims is a "game-changer" for the industry, said David Einhorn, head of Greenlight Capital.
A global crackdown on bank secrecy and offshore tax havens is gaining steam due to the worldwide financial crisis, the head of the OECD told CNBC.
The industry self-regulatory organization that was supposed to police the brokers at the Stanford Financial Group acknowledges it received a tip from an employee in 2003 that the company was running a Ponzi scheme, but did not follow up on it because of the agency's own policy.
Several banks, including two in the U.S., face new scrutiny as investors and regulators try to sort out the alleged Stanford Ponzi scheme, CNBC has learned. At issue: what the banks and regulators knew about massive deposits and withdrawals from Stanford over the years.
Wikipedia is engulfed in a furious debate with psychologists who are angry that the online encyclopedia has reproduced the 10 original Rorschach plates online, for free.
A bitter Congressional fight over the cost of superexpensive biotechnology drugs has come down to a single, hotly debated number: How many years should makers of those drugs be exempt from generic competition?
Though Sonia Sotomayor is widely expected to win confirmation to the US Supreme Court, the business community is still wondering just what kind of justice she'll be
An Indiana money manager is set to plead guilty to charges of crashing an airplane near a Panhandle neighborhood in a botched attempt to fake his own death.
The Supreme Court said Monday that it will rule on the constitutionality of the anti-fraud law that grew out of accounting scandals at Enron and other companies.
Former Enron CEO Jeffrey Skilling is appealing his 2006 conviction to the Supreme Court. In a 50-page petition filed Monday afternoon, Skilling's attorneys argue the conviction should be overturned because he did not put his own interest above Enron's as the government claimed, and because the Houston jury that convicted him was prejudiced by "pervasive media coverage."