December 9, 2010 |
The court-appointed trustee seeking to recoup money for victims of Bernard Madoff on Wednesday said it filed complaints against seven global financial institutions in hopes of recovering more than $1 billion. Irving Picard, the trustee for the liquidation of Bernard L. Madoff Investment Securities, filed complaints against Citigroup's Citibank; Natixis; Fortis; ABN AMRO Bank; Banco Bilbao Vizcaya Argentaria; Nomura; and Merrill Lynch, now owned by Bank of America Corp. None of the banks was available for immediate comment.
September 20, 2012 |
NEW YORK -- More checks are in the mail for 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 on Wednesday. The distribution -- the trustee's second -- satisfies about half of the allowed claims filed by Madoff's investor, Picard's office announced Thursday. Madoff investors had received an earlier October 2011 distribution of $343 million.
November 13, 2012 |
A Bank of New York Mellon subsidiary will pay $210 million to settle claims it concealed red flags showing Bernard Madoff was a fraud. Due diligence by the unit, Ivy Asset Management, revealed discrepancies in Madoff's stated investment strategy, according to a statement by New York Atty. Gen. Eric Schneiderman, who announced the settlement Tuesday. While Ivy steered clients to invest in Madoff, collecting fees for itself, some at the firm had reservations about Madoff, the attorney general said.
October 26, 2009 |
Jeffry Picower, a philanthropist accused of profiting by more than $7 billion from the investment schemes of his longtime friend Bernard Madoff, was found at the bottom of the pool at his ocean-side mansion and died Sunday, police said. He was 67. Picower's wife, Barbara, discovered his body and pulled him from the water with help from a housekeeper, authorities said. He was pronounced dead at Good Samaritan Medical Center at about 1:30 p.m. Palm Beach police are investigating the death as a drowning but have not ruled out anything on the cause of death.
August 26, 2011 |
What should have been a disturbing examination of a colossal financial crime in "Chasing Madoff" is instead a disturbed one. Using an irritably distracting collage of hopped-up graphics, archival footage and faux-noir re-creations in black and white, director Jeff Prosserman's frenzied documentary focuses on the scandal's much-noted whistle-blower, a securities analyst named Harry Markopolos, who had been trying for 10 years — before Bernard Madoff's...
October 21, 2009 |
Bernard Madoff's investment firm had a "diversion-filled office environment" featuring a culture of "sexual deviance" and drug use, says a lawsuit filed Tuesday against companies that dealt with the Ponzi-scheme mastermind. Starting in 1975, Bernard L. Madoff Investment Securities had an employee supply the office with drugs, according to the lawsuit. The complaint says the employee was fired in 2003 when Madoff, 71, who is now serving a 150-year prison sentence, worried that the drugs could draw the attention of prosecutors who might discover his financial fraud.
January 10, 2014
Re "U.S. gives bank's execs a free pass," Column, Jan. 8 Michael Hiltzik is right on the money. JPMorgan Chase was clearly in violation of laws regarding suspicious activity reporting, and the fact that it got its own money out of Bernard Madoff's Ponzi scheme shows it was aware of what was going on. However, like almost all of the other "investigations" related to the 2008 financial meltdown, no major JPMorgan executive has been indicted....
January 6, 2009 |
Lawmakers excoriated federal regulators Monday for failing to pursue "red flags" signaling that Bernard L. Madoff's storied investment business was an elaborate Ponzi scheme, and some officials promised more investigation and regulation in coming months. During a panel session on Capitol Hill, Rep. Paul Kanjorski (D-Pa.