Bernard Madoff

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Madoff's Piano, Slippers on Auction Block

400 personal items up for sale to help repay Ponzi schemer's victims

(Newser) - Seekers of Ponzi scheme memorabilia will be able to snap up more of Bernard Madoff's possessions at an auction next month. The shamed financier's Steinway grand piano, silverware, and even his monogrammed slippers will be on the auction block. The proceeds will be used to repay victims of his multi-billion-dollar...

Trustee Wants $30M More From Madoffs

Irving Picard sues, again, for money

(Newser) - The court-appointed trustee seeking to recover billions of dollars lost by Bernie Madoff is suing for $30 million that he says the Madoff family invested in oil, gas, and tech, reports the AP . The suit filed by trustee Irving Picard says the investments were used as vehicles to funnel money...

Trustee Plans to Sue Madoff Scheme 'Winners'

People who profited likely to face clawbacks

(Newser) - Thanks to the nature of Ponzi schemes, some people who invested money with Bernie Madoff and got out early enough ended up actually making money. The court-appointed trustee recovering money for Madoff's victims, however, says he plans to sue up to 1,000 of the scheme's "winners" to regain...

Madoff Has $9B Secret Stash: Fellow Inmate

Former partner knows where it is, may cut deal

(Newser) - Bernie Madoff has a secret stash, and his partner in crime knows where it is. The Ponzi schemer has told fellow federal prisoners he funneled $9 billion to three people—“I think it was personal friends,” the source tells the New York Post —and he suspects Frank...

Prisoner Madoff: 'F*** My Victims'

Ponzi schemer serving 150-year sentence becomes celeb in prison

(Newser) - Bernie Madoff isn't wasting time fretting over the lives he ruined and the fortunes he destroyed. Shortly after he arrived at a federal prison in North Carolina last summer, another inmate was pestering him about the people he had duped, and the Ponzi schemer lost his patience. "f--- my...

17 Most Corrupt Industries
 17 Most 
 Corrupt 
 Industries 
no. 1? not wall street
May 2, 2010 5:17 AM CDT

17 Most Corrupt Industries

Want to retain your honor? Don't get into these professions

(Newser) - Goldman Sachs got you convinced Wall Street is the most corrupt place to work? Not quite: The Daily Beast worked with an anti-corruption research organization to determine the 17 most corrupt industries in America. The top five, along with representative examples:
  1. Utilities: FirstEnergy allegedly covered up a reactor head that
...

Post-Madoff SEC Bites Goldman Sachs


 Post-Madoff SEC 
 Bites Goldman Sachs 
analysis
Apr 18, 2010 4:50 PM CDT

Post-Madoff SEC Bites Goldman Sachs

After Ponzi scheme debacle, regulator is back, with bigger fangs

(Newser) - Having let the Madoff scandal unfold virtually under its nose, the SEC sounded an alert with the announcement of its lawsuit charging Goldman Sachs with fraud. "The message: The SEC is back on the job," Greg Gordon writes for McClatchy . "The release is very judgmental about the...

New Owners Love Bernie Madoff's Pad

Patio trumps 'karma' concerns

(Newser) - Bernard Madoff may be a despicable con artist, but say this for the guy: he had a nice place. Now that place, a penthouse overlooking Manhattan’s Upper East Side, belongs to toy mogul Al Kahn and his wife, Patsy, and they say they couldn’t be happier, reports the...

Madoff Was Beaten in Prison
Madoff Was Beaten in Prison
Mar 18, 2010 7:26 AM CDT

Madoff Was Beaten in Prison

Burly fellow inmate broke his nose, fractured his ribs over apparent debt

(Newser) - Bernie Madoff suffered a broken nose, fractured ribs, and cuts on his face in a prison beating in December, a fellow prisoner tells the Wall Street Journal . One prison source said the assailant thought Madoff owed him money, and another said the assailant was a muscular man serving time for...

Americans Would Forgive Tiger Before John Edwards...

...or Chris Brown, Polanski, Madoff: poll

(Newser) - Americans appear to be in the mood to forgive a variety of national figures laid low by this or that scandal, and Tiger Woods in particular. Some 32% of respondents to a CBS News poll said they would pardon the transgressions of the likes of Woods, Charlie Sheen, and John...

Madoff Kin Seek New Names
 Madoff Kin Seek New Names 
Feb 25, 2010 1:45 AM CST

Madoff Kin Seek New Names

Ponzi schemer's daughter-in-law wants change for family

(Newser) - Bernard Madoff's daughter-in-law has decided she no longer wants to carry the financial world's least-trusted name. Stephanie Madoff, wife of Madoff's son Mark, has filed a name change request for herself and her two young children, Audrey and Nicholas, in Manhattan court, the New York Daily News reports.

Cabbage Patch CEO Snags Madoff Pad
 Cabbage Patch CEO 
 Snags Madoff Pad 
TAKE A TOUR
Feb 7, 2010 8:06 AM CST

Cabbage Patch CEO Snags Madoff Pad

Take a look at what $9M will get you in New York City

(Newser) - The guy who brought you Cabbage Patch Kids and Pokemon has snapped up the penthouse apartment of erstwhile Ponzi schemer Bernard Madoff, reports the New York Post . Al Kahn is the CEO of 4Kids Entertainment, and will be calling the 4000-square-foot lux digs in Manhattan's Upper East Side home sweet...

Madoff's Brother Target of Crime Probe

Peter Madoff subject of 'wide-ranging' Ponzi scheme inquiry

(Newser) - Finance's most-tarnished family name took another hit yesterday when it emerged that Peter Madoff is the target of a criminal probe relating to big brother Bernie's Ponzi scheme. A court filing states that the Manhattan US attorney's office is conducting an "active and wide ranging" probe of Peter, who...

Madoff Injured by Falling Out of Bed: Source

Ponzi schemer has facial fractures; lawyer blames dizziness

(Newser) - Bernie Madoff has been receiving medical care for injuries suffered when he fell out of bed and apparently landed on his face. The Ponzi schemer was taken to Duke University Medical Center in Durham on Friday and treated for multiple facial fractures, broken ribs, and a collapsed lung, sources tell...

Madoff Sent to Prison's Medical Wing

But there's no word from officials on what's wrong

(Newser) - Bernard Madoff has been transferred to the medical facility at the federal prison in North Carolina where he has been serving his 150-year sentence since July. A spokeswoman tells Bloomberg the Ponzi schemer was transferred on Dec. 18, but would not say why. Neither a federal prisons official nor Madoff’...

In Jail, Bernie Madoff Is 'the Godfather, the Don'
In Jail, Bernie Madoff Is
'the Godfather, the Don'
prison profile
Dec 10, 2009 8:29 PM CST

In Jail, Bernie Madoff Is 'the Godfather, the Don'

He's making buddies and earning the respect of fellow con artists

(Newser) - With 5 months under his belt, Bernie Madoff has about 149 and a half years to go in prison, but good news for him: He's making pals and winning respect behind bars. "To every con artist, he is the godfather, the don," one inmate tells the Wall Street ...

Help Wanted: No Madoffs Need Apply
 Help Wanted: 
 No Madoffs Need Apply 
INSULT TO INJURY
Dec 10, 2009 11:40 AM CST

Help Wanted: No Madoffs Need Apply

Even those cleared of wrongdoing can't find finance work

(Newser) - Add his former employees to the list of of Bernard Madoff's victims—and that includes his sons. Wherever it appears, the Madoff name on a résumé is toxic for those trying to continue to work in finance, experts say. Mark Madoff, who worked for his father for 20 years,...

Uma Thurman, Fianc&eacute; Split
 Uma Thurman, Fiancé Split 
MADOFF STRIKES AGAIN
Dec 8, 2009 10:00 AM CST

Uma Thurman, Fiancé Split

Somehow, Cindy Adams ties breakup with Arpad Busson to Bernie Madoff

(Newser) - The engagement is off between Uma Thurman and hedge fund manager Arpad Busson. Thurman, once-divorced and mother to two children by Ethan Hawke, announced her engagement to the financier—who has two children himself with Elle MacPherson—in the summer of 2008. Cindy Adams theorizes the breakup could have somehow...

Madoff Auction Nabs $1M
 Madoff Auction Nabs $1M 
TO THE BIDDER GO THE SPOILS
Nov 15, 2009 9:27 AM CST

Madoff Auction Nabs $1M

Yours for only $6K—schemer's college ring

(Newser) - Those pining for a little piece of Ponzi-scheme history ponied up more than a million bucks yesterday for disgraced financier Bernie Madoff's stuff—more than doubling the $500,000 take expected. The proceeds from the 200-some items goes toward repaying Madoff's victims, reports the Wall Street Journal in a rundown...

FBI Arrests Two More Madoff Aides
FBI Arrests
Two More
Madoff Aides
Nov 13, 2009 9:17 AM CST

FBI Arrests Two More Madoff Aides

Pair of computer programmers helped hide scheme, feds say

(Newser) - The Bernie Madoff net widens: The FBI has arrested two computer programmers accused of helping hide the massive Ponzi scheme. Jerome O'Hara and George Perez will be in court today on various fraud charges, including falsifying books. They are the third and fourth people arrested in addition to Madoff, who...

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