Madoff trustee seeks to pay $322 million to investors
Bernard Madoff's inner circle, who benefited from the perks of his $17.5 billion Ponzi scheme, now face jail time.
Mr. Bonventre, who ran Mr . Madoff's broker-dealer for almost 40 years, received half the minimum time prosecutors sought in the case.
Victims of the most infamous Ponzi scheme lost $17.5 billion but this week, recoveries reached $10 billion. The cost of liquidating the con man's defunct investment advisory firm has topped $1 billion but his former clients aren't footing the bill.
It can't be confirmed, but word has it that the FBI is currently investigating about 500 alleged Ponzi schemes. Few of them will rival the mega-frauds of Bernie Madoff and Allen Stanford, but the cumulative effect is going to be far-reaching. And the proliferation of scams seems so pervasive that ...
UPDATE: Know bull: This week we suffered from some serious gullibility
This article represents opinions of the author and not those of his firm and are subject to change from time to time and do not constitute a recommendation to purchase and sale any security nor to engage in any particular investment strategy. The information contained here has been obtained from ...
The rash of Ponzi schemes involving RIAs, unregistered advisors and brokers raises many questions about regulators and advisors, and most of them are troubling. Why were so many regulators, not to mention supposedly sophisticated investors, asleep at the wheel before Madoff struck? Are some new ...
Transparency is essential if you want to keep your clients' trust.
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