ponzi
Reports say jailed financial adviser Bernard Madoff, orchestrator of the largest-ever U.S. Ponzi scheme, won't attend the funeral of his son -- who apparently committed suicide last week.
Fraud Files: As the SEC 'Gets Tough' on Goldman, Remember Madoff
3:50PM 4/22/2010
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.
Fraud Files: Does a Tough Economy Lead to More Fraud?
9:00AM 2/27/2010
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.
Testing & and %
The Madoff auction take shows Bernie-mania is hardly waning
10:10PM 11/15/2009
There was some doubt headed into Saturday's auction of Bernard Madoff's belongings. Strong interest was anticipated, though many thought the public was tired of the Madoff saga. The asking prices for his (former) Manhattan and Palm Beach homes had just been cut by 10% and 7%, respectively. Presale...
Not all the people who donate to presidential campaigns are good. This fact comes to mind as we find out more about one of George W. Bush's big campaign donors -- a pleasant fellow named Scott Rothstein. Of course, he had plenty of company in goosing Bush's campaign coffers -- recall subprime...
In the wake of news that Bernard Madoff's associate and pal Jeffrey Picower (pictured) was found dead in his Palm Beach swimming pool last month, the revelation that Picower had left his wife Barbara $200 million and appointed her to head a charitable foundation funded with his estate's assets from...
Another Ponzi schemer steals millions by writing his own report card
11:20AM 11/10/2009
The Securities and Exchange Commission is an unindicted co-conspirator in the Ponzi schemes that have emerged over the last few years. It created the conditions that left huge opportunities for the ambitious and unscrupulous to dupe investors. And it shows no inclination to fix the problems. What...
Madoff accountant pleads guilty in Ponzi scheme, but will he sing?
12:15PM 11/03/2009
Bernard Madoff's former accountant David Friehling pleaded guilty Tuesday, according to a report from the Associated Press. Will he stay silent like Madoff or will he spill his guts to minimize his jail time?
Friehling (pictured) was the longtime auditor for Madoff, and was the first person...
Disgraced Texas financier R. Allen Stanford was beaten up in jail and needed to be hospitalized over the weekend, according to several media sources.
After being treated for minor injuries, Stanford was returned to the Joe Corley Detention Facility in Conroe, Texas, on Sunday.
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