September 21, 2012 |
NEW YORK — More checks are in the mail for financier Bernard Madoff's victims, nearly four years after his epic Ponzi scheme collapsed. Irving Picard, the trustee overseeing the liquidation of Madoff's firm, mailed checks worth nearly $2.5 billion Wednesday. The distribution satisfies about half of the allowed claims filed by Madoff investors, Picard's office announced Thursday. The average payment: slightly more than $2 million. The trustee's office says it has now distributed a total of $3.6 billion to Madoff victims.
December 13, 2010 |
Bernard Madoff won't seek to attend his son's funeral, the imprisoned Ponzi schemer's lawyer said Monday. Mark Madoff, 46, committed suicide Saturday at his home in Manhattan on the second anniversary of his father's arrest. Authorities said he hanged himself with a dog leash. The elder Madoff won't go to the funeral "out of consideration for his daughter-in-law and his grandchildren," said his lawyer, Ira Sorkin. Bernard Madoff instead will be "conducting a private service on his own" at the Butner Federal Correctional Complex in North Carolina, where he is serving a 150-year sentence for perpetrating what is thought to be the largest Ponzi scheme in U.S. history.
December 13, 2010 |
New York medical examiners Sunday ruled the death of Bernard Madoff's elder son a suicide, one day after his body was found hanging in his Manhattan apartment. Mark Madoff, 46, hanged himself early Saturday with a dog leash in his living room. Madoff took his life on the second anniversary of his father's arrest in the largest Ponzi scheme in U.S. history. An autopsy Sunday revealed the cause of death. "It is suicide by hanging," medical examiner's office spokeswoman Ellen Borakove said.
December 21, 2012
NEW YORK - The brother of imprisoned financier Bernard Madoff was sentenced to 10 years in prison for crimes committed in the shadow of his notorious sibling by a judge who said she disbelieved his claims that he did not know about the epic fraud. Peter Madoff, 67, agreed to serve the maximum sentence allowable to the charges of conspiracy and falsifying the books and records of an investment advisor that he pleaded guilty to in June. U.S. District Judge Laura Taylor Swain urged him to tell the truth even after he reports to prison Feb. 6 about what he knows about the multi-decade fraud that cost thousands of investors their original $20 billion investment.
April 2, 2010 |
Actor John Malkovich is seeking to recover $2.3 million from an account he had with the securities firm of Bernard Madoff, who conducted the biggest Ponzi scheme in U.S. history. Irving Picard, the trustee liquidating Madoff's firm, in August approved a claim for $670,000 for the actor's pension plan and trust, more than $1.5 million short of the value of the securities in Malkovich's account listed on his November 2008 final statement, attorneys for the actor said in a filing Thursday in U.S. Bankruptcy Court in New York.
CALIFORNIA | LOCAL
September 26, 2010 |
Stanley Chais, the Beverly Hills money manager whose clients lost hundreds of millions of dollars in the notorious Wall Street investment scam run by Bernard L. Madoff, died Sunday in New York. He was 84. Chais, who was facing a lawsuit by the Securities and Exchange Commission and was under criminal investigation by federal prosecutors in New York, died at an undisclosed location in Manhattan, said Ellen Borakove, spokeswoman for the New York City chief medical examiner. No cause was given, but Chais had been suffering from a rare blood disease.