October 27, 2009 |
A man accused of making more than $7 billion off the investment schemes of convicted financier Bernard L. Madoff drowned after a heart attack, authorities said. Jeffry Picower, 67, was found around noon Sunday by his wife, Barbara, at the bottom of a pool at their Florida mansion. An autopsy conducted Monday found he suffered a heart attack and drowned, said Dr. Michael Bell, chief medical examiner for Palm Beach County. The death has been ruled accidental, and the heart attack was brought on by heart disease.
June 9, 1999 |
Merrill Lynch & Co., Goldman Sachs Group Inc. and Bernard L. Madoff Investment Securities said Tuesday that they plan to start an electronic auction market for stocks that would let investors offer better quotes than those displayed on U.S. markets. The three brokerages, seeking to position themselves in the rapidly changing electronic securities markets, said they formed a company called Primex Trading that will offer anonymous broker-to-broker trades starting in the second quarter of 2000.
May 7, 2012 |
The trustee representing victims of Bernard Madoff's Ponzi scheme is now seeking $255.3 million from the investment advisor's family. Irving H. Picard is expanding an existing lawsuit to also include three of Madoff's sons' spouses. The suit claims that the women should have been aware of and reported Madoff's fraud, which bilked investors of $20 billion. The suit, which in November sought $226.4 million from relatives working at Bernard L. Madoff Investment Securities, was amended on Friday in U.S. bankruptcy court in Manhattan.
September 22, 1999 |
Securities and Exchange Commission Chairman Arthur Levitt may propose combining the brokerage-policing units of U.S. stock markets into a single organization separate from the exchanges, an SEC official said Tuesday. Levitt plans in a New York speech Thursday to urge the established markets and new electronic trading networks to end growing fragmentation of stock quotes and prices by finding new ways to share this information, SEC market-regulation director Annette Nazareth said.
September 21, 2001 |
Temporary rules designed to stem stock market declines may be extended for another week as the Securities and Exchange Commission plans to decide today whether to keep the emergency measures in place. "They've had a very positive effect without unduly influencing the market," SEC Chairman Harvey Pitt said in an interview Thursday after testifying before the Senate Banking Committee.
December 28, 2008
So Securities and Exchange Commission Chairman Christopher Cox wants an investigation into why his commission did not investigate Bernard L. Madoff after so many red flags. ("Critics assail watchdog's lax oversight," Dec. 18.) Cox is the same SEC commissioner who, when the subprime mortgage disaster first came to public light, said that maybe having a self-regulating financial industry wasn't such a great idea after all, or words to that effect. This "Heck of a job, Brownie!" president we're still saddled with and his infamous, ignoble loyalty to Cox and anyone in his administration further harm this country every day he remains in office.
May 9, 2011 |
The trustee seeking money on behalf of Bernard Madoff's victims announced on Monday a $1-billion settlement with liquidators for three large "feeder funds," boosting payouts to the swindler's former customers. Irving Picard said the agreement reduces the claims that the Fairfield funds, which had been affiliated with Fairfield Greenwich Group, have against a fund he administers for former Madoff customers. The claims will be reduced to about $230 million from $1.2 billion, he said.