Bernard Madoff

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Madoff: I'm a 'Human Pinata'
 Madoff: I'm a 'Human Piñata' 

Madoff: I'm a 'Human Piñata'

Thinks he doesn't deserve to die in prison

(Newser) - There are probably at least a few former investors who wish this was literal: Bernie Madoff says the judge in his Ponzi scheme trial made him the "human piñata of Wall Street" when he dished out a 150-year sentence. Madoff tells the New York Times Judge Denny Chin'...

Madoff Is Wall Street's Hot New Investment

Banks buying up Ponzi claims to cash in later

(Newser) - The wizards of Wall Street have found a way to turn Bernard Madoff into a hot investment. Big banks have been buying up the claims of the victims of Madoff's massive Ponzi scheme, offering scammed investors a fraction of what they are owed in the hopes of making big...

Madoff's Skivvies Fetch $200 at Auction

Sale raises $400K to go to victims

(Newser) - It's questionable why anyone would pay $200 for used underwear, but the definition of "collector's item" sank even to that level yesterday as the contents of Bernie Madoff's Palm Beach mansion went on the auction block. “It’s history! It’s the big thing! It’...

Husband Burned by Madoff Wants New Divorce Deal

He lost his share of settlement in Ponzi scheme

(Newser) - Bernie Madoff is messing up divorce settlements now, too. A husband wants his wife to give him back millions of dollars because he lost his share of their combined wealth in Madoff's Ponzi scheme, reports the New York Times . Steven Simkin and Laura Blank split up in 2006 and...

Mets Owners: We Knew Nothing of Madoff Scam

First angry response to 'clawback' suit

(Newser) - Though they made millions in profits from Bernard Madoff's phony investment scheme, owners of the Mets knew nothing about the fraud and aren't about to turn over a dime of their money to fleeced investors, they argue in court documents. Lawyers for Fred Wilpon and Saul Katz have filed a...

SEC Lawyer Linked to $1.5M in Dirty Madoff Money

Maybe that's why SEC was 'asleep at the swtich,' says critic

(Newser) - The mother of the chief lawyer for the Securities and Exchange Commission reaped $1.5 million in dirty money from Bernie Madoff, court documents are revealing. Attorney David Becker has been named in a clawback lawsuit seeking funds to repay investors ripped off in Madoff's $65 billion Ponzi scheme. The...

Ruth Madoff Turned Away From Son's Memorial

It was apparently her punishment for choosing Bernie over boys

(Newser) - Ruth Madoff mourned alone after her son Mark committed suicide , sources tell People. She flew from Florida to Connecticut for the memorial service, but was turned away by Mark’s wife, the New York Post reports. A friend says Ruth’s sons wanted her to choose between them and disgraced...

Trustee: JPMorgan Knew of Madoff's Ponzi Scheme

Lawsuit: Bank had warnings for years

(Newser) - Newly revealed court documents in the Bernie Madoff case show that JPMorgan Chase had serious doubts about the con man's investments more than a year before the bottom fell out—but kept right on letting him move billions in investor cash through his accounts, reports the New York Times . Consider...

Lawsuit Accuses Marshals of Dirty Madoff Loot Sale

Victims of white-collar criminals deprived of millions

(Newser) - The head of a US Marshals Service unit sold off millions in assets forfeited from white-collar criminals—including some seized from Bernie Madoff’s family—at a deep discount to his “business contacts,” swindling crime victims out of a pile of money, according to a whistle-blower lawsuit from...

Judge Yanks Bail for Madoff Secretary

Annette Bongiorno a flight risk, judge decides

(Newser) - Bernard Madoff's personal secretary is going to be spending Christmas behind bars. Annette Bongiorno surrendered to authorities in Florida yesterday after a federal judge canceled her house arrest and revoked her $5 million bail, the Orlando Sentinel reports. The judge decided there was a "very real potential" that Bongiorno,...

No Funeral for Mark Madoff
No Funeral
for Mark Madoff

No Funeral for Mark Madoff

Ponzi schemer's son to be cremated without service

(Newser) - Bernard Madoff's elder son will be cremated with no viewing and no funeral service, sources tell the New York Post . The body of Mark Madoff—who hanged himself on Saturday, the second anniversary of his father's arrest—was claimed by a funeral director on behalf of his family yesterday. His...

Wall Street Speculators Hope to Profit on Madoff Victims

They're offering cash upfront, for reduced amounts, to take over claims

(Newser) - Bernie Madoff made a fortune off his victims, and now speculators in the field known as distressed securities hope to do the same. As the New York Times explains: These speculators are contacting those who lost money and offering a deal: We'll give you cash immediately and take over your...

Ruth Madoff Blames Bernie for Son Mark's Suicide

Family thinks Bernie may not 'survive this'

(Newser) - In Ruth Madoff's eyes, the death of son Mark is all husband Bernie's fault. "Her wrath is aimed at her husband," a Madoff biographer tells the New York Post , citing family friends. He adds that Ruth is "totally disgusted with" Bernie and "thinks this is the...

Mark Madoff's Suicide Tightens Screws on Brother

Mark's death won't stop cases against brother Andrew

(Newser) - Bernie Madoff's son Mark may have committed suicide on Saturday but the lawsuits against him and his brother, Andrew, stemming from their father's Ponzi scheme are alive and well. Andrew Madoff, now Bernard Madoff's only surviving son, had the same responsibilities as his brother at the family firm, and is...

Mark Madoff Hadn't Spoken to His Father in 2 Years

Friends say he couldn't move on after Ponzi revelations

(Newser) - Mark Madoff, the son of Ponzi schemer Bernie who killed himself this morning, hadn't spoken to his father in two years, friends tell the Wall Street Journal . Brother Andrew hasn't either, but Mark seemed to have more difficulty than Andrew in trying to get beyond their father's fraud case. He...

Austrian Madoff 'Victim' Actually Accomplice: Lawsuit

Vienna's Sonja Kohn accused of funneling billions into Ponzi scheme

(Newser) - Before the suicide of his son , this was shaping up to be the big Bernie Madoff story of the day: A Vienna banker who once called herself one of the Ponzi scheme's biggest victims may in reality have been Madoff's biggest conspirator. The trustee handling the investigation accuses Sonja Kohn...

Bernie Madoff Son Dead in Apparent Suicide
Bernie Madoff Son
Hangs Himself
breaking news

Bernie Madoff Son Hangs Himself

Mark Madoff had been left 'unalterably bitter' by sins of the father

(Newser) - The 46-year-old son of Ponzi schemer Bernard Madoff has been found hanging in an apparent suicide in his SoHo apartment, reports the New York Post. Mark Madoff, who sources recently told the Wall Street Journal was left "unalterably bitter" by his father's crimes, hadn't faced criminal charges to date,...

HSBC Sued for Aiding Madoff
HSBC Sued for Aiding
Bernie Madoff

HSBC Sued for Aiding Bernie Madoff

Trustee says bank enabled fraud by ignoring warning signs

(Newser) - Bernie Madoff's Ponzi scheme survived for so long because HSBC ignored "red flags" and kept funneling investors' money to the fraudster, says the trustee trying to reclaim money for Madoff's victims. Irving Picard is suing the bank and a group of feeder funds for at least $9 billion, the...

FBI Arrests Two Madoff Aides
 FBI Arrests Two Madoff Aides  

FBI Arrests Two Madoff Aides

Joann Crupi, Annette Bongiorno were part of his back-office staff

(Newser) - Two members of Bernie Madoff's back office staff were arrested on undisclosed federal charges by the FBI this morning. Joann Crupi was arrested at her home in Westfield, NJ; Annette Bongiorno was arrested at her home in Boca Raton. The charges have not been unsealed yet. Authorities said previously that...

Madoff Auction Makes $2M
 Madoff Auction Makes $2M 
10 pairs of shoes: $900

Madoff Auction Makes $2M

Bernie's used boxers: The perfect holiday gift!

(Newser) - If ever you had a desire to buy a pair of Bernie Madoff’s cuticle scissors … you missed your chance. More of the Ponzi schemer’s stuff , including, yes, cuticle scissors, was auctioned off yesterday. The sale grossed more than $2 million—quite a bit more than the $1....

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