Illinois man indicted in Ponzi scheme

From penthouse to jailhouse

By: prabirghose

The 71-year old fraudster Bernard Madoff is serving a prison sentence of 150 years on charges of duping hundreds of investors of millions of dollars via the pyramid scheme. He was used to a lavish lifestyle and owned a Manhattan penthouse apart from luxury yachts which are considered as symbols of prosperity. The office parties that he hosted had ...

about 1 month ago

Court Botches Case in Madoff Scandal

By: ahol888

Court-appointed trustee, Irving Picard, had been given the dubious charge of overseeing the liquidation of Bernard L. Madoff Investment Securites.  As we all know, Bernard Madoff is in jail for the rest of his life for swindling investors out of billions of dollars.  The courts have calculated that Mr. Madoff took 21.2 billion dollars ...

about 1 month ago

New Jersey criminal corruption sting largest in history

By: mvwsr

 By Michael Webster: Syndicated Investigative Reporter. Nov 3, 2009 7:30 PM PST    Solomon Dwek, the wire wearing FBI informant turned witness for the federal government in the largest New Jersey criminal corruption sting in its history emerged recently from the federal protection program long enough to plead guilty to a $50 ...

about 1 month ago

Madoff goods and chattels go on the block

By: dustgeer

 U.S. marshals began auctioning Bernard and Ruth Madoff's personal possessions Saturday in a New York hotel in the first of a series of sales.   At least 500 people showed up at the New York Sheraton Hotel and Towers and another 1,000 registered on line, The New York Times reported. They could bid on anything from Ruth Madoff's ...

21 days ago