ponzi scheme

Fraud Files: Can the SEC Beat Goldman? Remember Madoff

The depths of SEC incompetence are masterfully exposed in "No One Would Listen: A True Financial Thriller," the new book by Bernie Madoff whistleblower Harry Markopolos. How inept was the agency? Read on, and learn why Goldman Sachs shouldn't be too worried about its future.

Judge: Some Madoff Victims Are Out of Luck

Some of Bernard Madoff's former clients got bad news on Monday after a judge decided many aren't eligible for compensation for their losses. The ruling, which seems likely to be appealed, endorsed a controversial method that would favor compensating individuals who received less money than they deposited into Madoff accounts.

Fraud Files: Does a Bad Economy Lead to Fraud?

While we're hearing more about fraud, that doesn't necessarily mean more workers are stealing from their employers or more money managers are swindling investors. The probable reason? Tighter corporate finances are making it more likely that existing frauds will be uncovered.

Alexandra Penney on Losing It All to Bernie Madoff

On Dec. 11, 2008, the artist and former editor discovered that her investment adviser, Bernard Madoff, had defrauded her. In her forthcoming book, The Bag Lady Papers: The Priceless Experience of Losing It All, Penney writes about it, and here she talks about it.

Madoff Victims Struggle to Recover Money

A close associate of Bernie Madoff, awaiting his sentencing, has put his New Jersey mansion up for sale to help compensate the victims. But the judge and the trustee on the case are struggling with prosecutors to determine who gets what, and how much.

Koss Corp: Anatomy of an Alleged Fraud

How does the alleged $31 million fraud at Koss Corp., a company with sales of no more than $45 million, go undetected for years? Blame management. It gave the employee charged with misappropriating funds far too much autonomy. And it never told auditors to do more than just the required audit.

One last bizarre turn in Stanford case

On page 15 of a settlement document with the government, James Davis, the financial chief of the operations controlled by Allen Stanford, says that...

Madoff sentenced to 150 years

U.S. District Judge Denny Chin sentenced Bernard Madoff to 150 years after hearing from victims. Federal sentencing guidelines require the...

Feds investigate some Madoff victims

Federal investigators of the Madoff ponzi scheme expanded their criminal investigations to include some high profile investors who may have known...

I didn't run a Ponzi scheme. Honest!

The latest news in the case of the alleged $8 billion Ponzi shceme perpetrated by Allen Stanford is that... he says he didn't do it. Now isn't that...