Five former employees of Bernard L . Madoff on trial for allegedly aiding his $17 billion Ponzi scheme were kept in the dark about the fraud and duped by his outsized personality and reputation, a jury was told.
Bernard Madoff's broker-dealer and proprietary trading units were backed by “hundreds of millions of dollars” in stolen money from his fraudulent investment advisory business, a jury was told in the trial of five former employees accused of aiding the $17 billion Ponzi scheme.
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 ...
New regulations for brokers who control their clients' cash will go a long way toward preventing another client rip-off like the Bernard Madoff Ponzi scheme, the SEC commissioner said.
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 ...
This week: The ECB tries to accommodate, JPMorgan is fined again, and 'liquid gold' gets scarce.
Five ex-employees of Bernard Madoff on trial accused of aiding his $17 billion fraud seek to “embarrass” Securities and Exchange Commission witnesses by asking about bungled Madoff audits, prosecutors say.
Transparency is essential if you want to keep your clients' trust.
Breakfast with Benjamin: JPMorgan's Madoff missteps, Prudential's bullishness, ETF inflows' lessons, gold bugs' squashed state and Kraft's Velveeta shortage warning. Plus: pot stocks vs. prison stocks.