madoff scandal

A court-appointed trustee is suing JPMorgan Chase for its alleged involvement in Bernard Madoff's multibillion-dollar Ponzi scheme. The investment bank was Madoff's primary bank for 20 years. JPMorgan said it didn't know about -- much less assist -- Madoff's fraud.

Annette Bongiorno and Joann "Jodi" Crupi, both long-term employees at Bernard L. Madoff Investment Securities, were arrested Thursday and charged with multiple counts of conspiracy, securities fraud, falsifying documents and tax evasion.

Bernie Maddoff has reportedly been bragging to his fellow inmates that he has "stashed" $9 billion with three close friends. While the claim could be true, it could also just be one more attempt by the Ponzi schemer to boost his street cred in prison.

The phrases "Bernard L. Madoff", "settled", "Securities and Exchange Commission" and "without admitting or denying and wrongdoing" certainly look odd strung together in one sentence. But that's the news the SEC announced today regarding its civil fraud charges (Madoff had already pleaded guilty to...

The feds aren't happy about it nor are the folks who lost billions in Madoff's financial scheme, but he is presently sitting in his exclusive $7 million apartment in Manhattan. I don't know what $7 million buys in Manhattan but I am sure that it is better than the standard jail cell. Madoff and...