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.
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.
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...
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.
December 17, 2008 |
In one of his more melancholy moods, Isaac Newton mused that he could measure the movement of distant celestial bodies but could not gauge the magnitude of human folly. It's a reflection with a certain compelling relevance given the stunning news that one of the country's most respected securities traders, Bernard L. Madoff, allegedly has swindled investors out of at least $50 billion.
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.
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.
December 28, 2008 |
Rene-Thierry Magon de la Villehuchet saw his fortune and his loved ones' money disappear along with his clients' when he lost $1.4 billion he had invested with Bernard Madoff, the French financier's brother said. Magon de la Villehuchet, 65, was found dead at his desk in New York on Tuesday, both of his wrists slashed and a bottle of pills nearby. His brother said Magon de La Villehuchet invested virtually all his own funds, along with money from friends and family, with Madoff, who was arrested Dec. 11 and allegedly told FBI agents he had masterminded a $50 billion fraud.