In some ways the aftermath of the Madoff scam is much like the Ponzi scheme itself.
His sons went to authorities two years ago and said that he had confessed the Ponzi scheme to them.
Picard says she established Bank Medici in Austria as a mechanism for shoveling investor money into the Ponzi scheme.
FORBES: Madoff Trustee Sues Austrian Banker for $19.6 Billion, Calls Her Mastermind of Ponzi
The Mets have been the epitome of a dysfunctional sports franchise even without any references to Bernie Madoff and the Ponzi scheme.
FORBES: Money Wasn't the Only Thing that Madoff Stole from Fred Wilpon
Jaffe and his father-in-law, Carl Shapiro, have said they were not aware of the Ponzi scheme and indeed have lost hundreds of millions because of it.
As word that Elia was not honoring investment requests circulated among the close-knit group of investors, more demanded refunds, leading to the collapse of the Ponzi scheme.
The SEC has been criticized for failing to identify the Ponzi scheme and for its failure to respond to whistleblowers and their warnings that Mr. Madoff's operations were a fraud.
Picard also recently filed a complaint against UBS accusing the Swiss bank of fraud and misconduct in connection with feeder funds that funneled investor cash into the Ponzi scheme.
FORBES: Madoff Trustee Gets Up To $500 million from Union Bancaire Privee
Shaprio has long denied any knowledge of the Ponzi scheme and federal prosecutors on Tuesday were careful to point out the civil settlement contains no finding of fault against Shapiro and his family.
FORBES: Carl Shapiro Could Still Go To Jail Over Madoff Ponzi
As part of that lawsuit, Picard also sued Claudine de la Villehuchet, the widow of Rene-Thierry Magon de la Villehuchet, a French hedge fund manager who killed himself soon after the Ponzi scheme came to light.
FORBES: Madoff Trustee Sues HSBC And Others For $9 Billion In Biggest Madoff Suit
Accordingly, I conclude that the subsequent information regarding the Madoff Ponzi scheme is relevant to the determination of the fair market value of the IRA. The unearthing of the Ponzi scheme exposed that the statements are fictitious.
Bernard Madoff's criminal activities have spawned a tidal wave of civil actions against Mark Madoff, his mother, siblings and hundreds of other defendants, accused of profiting off the Ponzi scheme by withdrawing more money from Madoff's fund than they invested, money they presumably thought was investment income.
As part of that lawsuit, Picard also sued Claudine de la Villehuchet, the widow of Rene-Thierry Magon de la Villehuchet, a French hedge fund manager who killed himself soon after the Ponzi scheme came to light by swallowing sleeping pills and slitting his wrists in his Manhattan office.
The Madoff Ponzi scheme and the greatest Depression since the 1930s were even harsher wake-up calls.
FORBES: Death of Zombie Pensions Will Be Worse Than 2008 Meltdown
This was a bad trade for Krys, who because of it now has much less money to pay back victims who invested in the Madoff Ponzi scheme through the Fairfield Sentry feeders.
FORBES: The Great Baupost Madoff Claim Trade That Made A Big Madoff Feeder Fund A Loser Again
The drama of the biggest Ponzi scheme in history will continue long past the second-anniversary of its exposure.
Early this morning, two years to the day after Bernie Madoff was arrested for masterminding the largest Ponzi scheme in U.S. history, the body of his son, Mark, was found hanging by a black dog leash in the his SoHo apartment.
FORBES: Mark Madoff Found Dead, A Suicide; Latest Tragedy in Ponzi Scheme
It has been nearly two years since the Madoff Ponzi scheme was revealed, but much of they mystery remains around the biggest financial crime ever.
FORBES: EXCLUSIVE: Some Fairfield Investors Knew About Madoff Ponzi and Profited
Authorities say he defrauded his investors out of billions of dollars, and SEC Chairman Christopher Cox is acknowledging that the alleged Ponzi scheme might have been discovered sooner, but his agency missed the clues.
As these frauds all to often develop, the funds were used, in part, to repay earlier investors a la the infamous Ponzi scheme, and, in part, to pay of personal expenses of the masterminds of this fairly small minded fraud.
Investigators and forensic accountants are continuing to unravel the finances of the complicated Ponzi scheme.
The agency has been under fire lately for completely missing the alleged Ponzi scheme of Bernard Madoff.
Bernard Madoff is currently serving a 150-year prison sentence for masterminding the largest Ponzi scheme in U.S. history.
Miami has been under investigation since the convicted Ponzi scheme mastermind said he had provided improper benefits to Hurricanes recruits.
Charities worldwide were hit with massive losses and some were forced to shutter as a result of the Madoff Ponzi scheme.
When the Madoff Ponzi scheme first broke in late 2008, it seemed most uncertain whether his investors would ever get their money back.
As part of the complaint, Picard also sued the widow of the first known suicide victim connected to the Madoff Ponzi scheme.
The Mets have certainly had their share of turbulent times, including most prominently as a result of the fallout of the Madoff Ponzi scheme.
应用推荐