Bernard Madoff

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Stung by Madoff, SEC Steps Up Pace, Triples Fraud Cases

Embarrassed committee gets aggressive with enforcement

(Newser) - Haunted by the failure to catch Bernie Madoff, the Securities and Exchange Commission is dramatically stepping up its investigation workload, reports the LA Times. Since February, the SEC has frozen the assets of 27 fraud suspects, compared to seven in the same period last year. “The clear message from...

Madoff Victims' Advocate Sues Ezra Merkin

Trustee wants $558M back from feeder-fund withdrawals

(Newser) - The trustee representing investors who lost their savings with Bernie Madoff is suing Ezra Merkin, the feeder-fund manager who withdrew $558 million from Madoff's shop before the collapse of his Ponzi scheme. Irving Picard, who is responsible for winding down Madoff's defunct company, alleges that Merkin should have known from...

Madoff's $100K AmEx Bills Point to Rampant Abuse

Investors' money kept family living luxe

(Newser) - Ponzi-schemer Bernard Madoff used investors’ money as a “personal piggy bank” to support family, as well as some staff, extravagances, ABC reports. Documents filed in New York bankruptcy court show that Ruth Madoff used the company card to purchase nearly $5,000 of clothing at Paris boutiques last January,...

Secretary Dishes About Madoff's 'Roving Eye'

Inside details paint picture of lewd Ponzi schemer

(Newser) - Bernie Madoff “was irresistible to women,” his longtime secretary says, and the confessed Ponzi schemer felt the same way about them, perusing escort ads and keeping “about a dozen phone numbers for his masseuses” in his address book. Eleanor Squillari reveals intimate details about her boss, including...

Trustee Sues Madoff Insider, Says He Must Have Known

LA money manager got rich on fake returns

(Newser) - A trustee overseeing the liquidation of Bernie Madoff's assets filed a lawsuit against one of the Ponzi schemer’s investors yesterday, accusing investment manager Stanley Chais of getting such “implausibly high” returns that he should have known they were a sham. Chais and his family withdrew “untold” funds...

Pols, Hacker Among 'Influentials'

(Newser) - Time has unveiled its latest tallying of the world’s 100 most influential people, and yes, of course, Barack Obama is on it. But the other 99 choices aren’t as obvious. Bernie Madoff makes the list, as do Rush Limbaugh, George Clooney, and 4Chan’s Moot. And as usual,...

Dirty-Dealing Madoff Was a Clean Freak
Dirty-Dealing Madoff Was a Clean Freak
investigation
Apr 24, 2009 2:01 PM CDT

Dirty-Dealing Madoff Was a Clean Freak

Ponzi schemer a Luddite who crawled on all fours to align rugs

(Newser) - "Neat freak" may be one of the more polite epithets used to describe Bernie Madoff, who comes off as an obsessive-compulsive nut in a Fortune profile by James Bandler and Nicholas Varchaver. In immaculately tailored suits, he dusted furniture and got down on hands and knees to straighten rugs....

Madoff's 'Ninja' Deputy Willing to Talk to Feds

(Newser) - Bernie Madoff's chief deputy is ready to talk, Fortune reports. Frank DiPascali is working out a deal with federal prosecutors in which he’ll name names and give details of how the massive Ponzi scheme operated. Among the surprises: No Madoff family members will be implicated, at least by DiPascali....

Judge Holds Madoff Assets for Feds
Judge Holds Madoff Assets for Feds
Apr 20, 2009 6:19 PM CDT

Judge Holds Madoff Assets for Feds

Holdings may go to government through criminal forfeiture

(Newser) - A federal judge stopped Bernard Madoff's assets from moving into bankruptcy today, saying the government may claim them through criminal forfeiture because of Madoff's Ponzi scheme, Bloomberg reports. US District Judge Denny Chin blocked more than $100 million from being moved, a setback to investors who had won the right...

Madoff Kin Seek Advice on Life Behind Bars

Bernie's relatives look into former inmate's 'Fedtime 101' course

(Newser) - Two of Bernie Madoff’s family members have contacted a consultant who teaches a class on life in the slammer, the New York Post reports. Madoff’s niece, a compliance officer at his firm, is “concerned about her safety,” a source told the Post. Shana called a former...

Swank Hair Salon Cuts Ruth Madoff

Ponzi scheming hubby burned too many clients

(Newser) - Ruth Madoff might be going gray—and not due to stress over Bernie’s legal troubles. She’s been banned from getting her hair colored at a New York salon, the Post reports. “The Pierre Michel salon's clients are among some of Manhattan's most elite,” says a rep....

Madoff's Mets Tix Sell for $7,500 on eBay

600% profit on seats to home opener will help repay victims

(Newser) - A Bernard Madoff investment has finally made an honest profit, the New York Daily News reports. The Ponzi kingpin's pair of tickets for the New York Mets home opener tonight, face value $525 each, sold for $7,500 after a fierce eBay bidding war. Along with revenue from the sale...

Judge Okays Bankruptcy for Bernie Madoff

Makes personal assets more easily available to victims

(Newser) - Bernard Madoff’s victims can force him into bankruptcy and seek any assets that weren’t proceeds of his crimes, a federal judge ruled today, over objections from federal prosecutors, the SEC, and the trustee overseeing the bankruptcy of Madoff’s firm. The judge ruled that bankruptcy had the best...

Madoff Investor Slapped With 1st Suit to Recover Gains

Trustee plans lawsuits all over the world

(Newser) - The first of what may be many lawsuits aimed at clawing back money from investors who gained from the Bernie Madoff ponzi scheme has been filed, the Wall Street Journal reports. The trustee for defrauded investors, Irving Picard, yesterday filed suit against a Virgin Islands-based investor, Vizcaya Partners, which withdrew...

Madoff's Mets Tickets Up for Grabs on Ebay

Home-plate 'Ponzi' tickets will be sold to repay scammed investors

(Newser) - Scamster Bernard Madoff has lost his mansion, his yacht, his freedom and now his prized Mets season tickets, the Los Angeles Times reports. The trustee liquidating the shamed financier and lifelong Mets fan's assets has traded Madoff's $80,000 platinum tickets for a "more marketable" $60,000 gold set...

Madoff Victims Trustee Eyes Brother's Bucks

New focus on Peter as trustee seeks to compensate swindle victims

(Newser) - A federal court official may seek to claw back any funds transferred by Bernard Madoff's swindle company to his brother, reports the New York Post. The new focus on Madoff's sibling, an officer in his firm, was revealed in a letter to an attorney representing a New York law student....

Ruth Madoff Pays Bernie First Visit in Jail

Ponzi schemer's wife stays silent after Manhattan meeting

(Newser) - Ruth Madoff visited her husband in his new prison home for the first time yesterday, the New York Post reports. The swindler's wife, accompanied by private security, appeared calm and relaxed after her 20-minute meeting with Bernard Madoff in the Manhattan Correctional Center, although she refused to answer reporters' questions...

Cuomo Charges Madoff Feeder With Fraud

Says 'investment guru' Merkin was really just 'master marketer'

(Newser) - New York AG Andrew Cuomo has charged J. Ezra Merkin, a prominent New York philanthropist who funneled $2.4 billion into Bernie Madoff’s Ponzi scheme, with fraud, the Wall Street Journal reports. The complaint doesn’t accuse Merkin of knowing about the scheme. But it alleges that he lied...

Feds Seize Yet Another Madoff Boat
Feds Seize
Yet Another Madoff Boat
Apr 3, 2009 6:44 AM CDT

Feds Seize Yet Another Madoff Boat

$430K Long Island vessel will be sold to aid victims

(Newser) - After nabbing a yacht and a motorboat and seizing his Florida mansion, feds have taken a third vessel belonging to Bernie Madoff: a fancy fishing boat found off Long Island, the New York Daily News reports. The 38-foot boat, bought for $430,812 in 2003, is named Sitting Bull, in...

Madoff's Taste in Home Decor Full of Bull

(Newser) - While seizing Bernie Madoff's Palm Beach possessions yesterday, US Marshals got an eyeful of the fraudster's home furnishings, reports the Palm Beach Post. And they weren't impressed. "I've never seen so much bull in my life," said one deputy. "Pictures of bulls, bull statues, even bulls on...

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