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A Virginia man will spend more than seven years in prison for running a Ponzi scheme that bilked more than $5 million from more than 30 investors.
Two men lured victims into an $80 million Ponzi scheme by convincing them they were investing in thousands of automated teller machines that in fact were never purchased, federal authorities said Monday.
A small-time money manager who did business out of a shabby storefront in Brooklyn was charged Tuesday with running a $40 million Ponzi scheme that secretly diverted client money to unauthorized ventures, including a mail-order pornography business.
Florida authorities allege in an affidavit that a professional race car driver being investigated on suspicion of running a Ponzi scheme apparently took money from pro drivers, an ex-girlfriend and a racing writer.
Lancelot Investment Management and its owner have been accused by the U.S. Securities and Exchange Commission of aiding a multibillion dollar Ponzi scheme.
The Securities and Exchange Commission says four business partners defrauded investors out of more than $11 million by promising significant returns on a fictitious no-risk investment.
They're smart and charming. They have an aura of success about them and exude respectability. Above all, they instill confidence.
Economy is still shedding jobs and people are asking Obama to fix it. Folks, there is not much Obama can do about it. Government does not have a magic stick to swing and change the world. We have borrowed for 50 years and spent and inflated prices and salaries along with it.
Madoff: I had 'too much credibility' with SECThe only problem with officials at the Securities and Exchange Commission's Washington headquarters, he said, is that he had "too much credibility with them and they dismissed" the idea that he was scheming people out of billions of dollars.
Marc Dreier's $400M Scam, The Inside Story - 60 Minutes - CBS NewsSometimes trying to live the ultimate american dream requires to large a priceas Marc Dreier found out.
Secrets of Alleged Oil Price Manipulation Exposed: SoftwareAnd Goldman Sachs... and so on and so forth.
Madoff dying of cancer, fellow inmates sayBernard Madoff, convicted of swindling $65 billion through the biggest-ever Ponzi scheme, has told fellow prison inmates that he is dying of cancer, the New York Post reported on Monday, citing unnamed prison sources.
Bankers defy bonus criticismsShadow chancellor George Osborne said handing out large pay awards was "unacceptable" for any bank which was backed by state guarantees. The British Bankers Association (BBA) said pay rules were already "more stringent" than in any other country.
The Creature from Jekyll Island - The Creation of the Federal ReserveThe Creature from Jekyll Island: A Lecture on the Federal Reserve
Bail-Out Bonuses at Banks that Got the Most $ from U.s. - $1 Million a Head...Hundreds and Hundreds of HeadsThousands of top traders and bankers on Wall Street were awarded huge bonuses and pay packages last year, even as their employers were battered by the financial crisis. More Articles
The US-China Ponzi scheme - MSN MoneyBy unwittingly tying together their fortunes as they pursued their own interests, the 2 nations have put themselves on an economic path of mutually assured destruction.
IRS Role In Madoff Scandal Bears ExaminationThe Internal Revenue Service(IRS) has collected "untold billions" of tax dollars from investors swindled by fraudster Bernie Madoff's Ponzi based on "earnings" that never existed.
Dr Hansen (NASA GISS): G-8 Failure Reflects Obama U.S. Failure on Climate ChangeDr James Hansen (Head, NASA's GISS): "For all its "green" aura, Waxman-Markey locks in fossil fuel business-as-usual and garlands it with a Ponzi-like "cap-and-trade" scheme... bill's egregious flaws"
SEC boss told underling to stop investigating Madoff in 2004, then marries Madoff's niece - Boing BoingThe SEC's Eric Swanson, who told his underling lawyer to stop looking into Bernie Madoff's questionable activities in 2004, married Bernie's niece Shana Madoff in 2007.
Bernie Madoff was handed a 150-year prison term for bilking BILLIONS of dollars from investors. Will his long prison sentence deter others from committing similar crimes? Were you a Madoff victim?
Full statement: Bernie Madoff's wife Ruth breaks silence after husband sentenced to 150 yrs. in jailRuth Madoff feels that she is a victim too......
Vijay Singh Offers To Pay Stanford's Bail....Singh would have been on the hook for $500,000 if Stanford fled, but he was not allowed to help with bail because he is not a citizen of the United States.
Brokerage Firm and 4 Others Sued in Madoff Case - DealBook Blog - NYTimes.comFederal securities regulators have filed civil fraud charges against four individuals, including the investment adviser Stanley Chais and the officers of a small securities firm co-founded by Bernard L. Madoff, accusing them of knowingly steering billions of dollars into Mr.
Fraud City: A look at why Nashville draws huckstersthe old adage is as true today as it was long ago if something sounds to go to be true it probably is.
Bronte sleuth finds Ponzi link to BidenJOHN HEMPTON, a former Platinum Asset Management banking analyst-turned-financial blogger living in Bronte, would at first glance appear an unlikely candidate to uncover a financial scandal linking US Ponzi schemes to the offices of a hedge fund owned by the son and brother of th …
Marc Dreier, New York Lawyer, Pleads Guilty in Fraud SchemeA prominent New York lawyer whom prosecutors have called a "Houdini of impersonation and false documents" pleaded guilty on Monday to leading what the authorities have called a fraud scheme that bilked hedge funds and other investors out of at least $400 million.
Is America about to go broke?"About"? We're already there. 4.7 Trillion dollar deficit is money we DO NOT HAVE!
Michael Moore on Bernie MadoffIt would be too easy - and the wrong lesson learned - to put Bernie on TIME's list all by himself.
SEC Charges Operators of Reserve Primary Fund With Fraud - Lehman OH Brother!Dance and rejoice! The SEC is finally in action and in a smack down and crack down on Manhattan town. I have the song, "I'm gonna kiss you all over" running through my head at the moment.
AXP Partner Delta/NorthWest Sues US BankCan't we all just get along and stay out of court? This card and that card suing each other and now involving airlines? Is Delta using any of the $2 billion AmEx gave them for legal fees? If so, taxpayers are footing the bill.
American Express Q1 Net Income Down 56%The earnings call was uneventful and full of the same carefully poised verbiage as in the past. Why AXP would announce Delta PR today when travel concerns abound regarding the swine flu is well beyond comprehension.
IRS Scoping Out Other OffShore Banks for US Tax EvadersFollow the money, baby. I smell rats.
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