UPDATE: Five former Madoff employees convicted of fraud
UPDATE: Flash Boys forever: Rigging stocks is the American way
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Five former aides to Bernard Madoff who spent decades working for his firm were found guilty of helping run the biggest Ponzi scheme in U.S. history, a $17.5 billion fraud exposed by the 2008 financial crisis.
A pension fund has sued JPMorgan Chase & Co. and CEO James Dimon, accusing the bank of creating “a culture of lawlessness” that led to billions of dollars in settlements tied to mortgage-backed securities and Bernard Madoff's Ponzi scheme.
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.
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.
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.
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.