Banco Santander Painted a Rosy Madoff Picture Just Weeks Before His Arrest
Madoff Ponzi Scheme Collapsed. Investors in Banco Santander's lost more than $3.1 million. Just weeks before Bernard Madoff's alleged Ponzi scheme collapsed, managers at Banco Santander's Optimal hedge fund investment arm were praising Madoff's supposedly "impeccable" market timing, according to a report on FT.com. Once Madoff was … [Read more...] about Banco Santander Painted a Rosy Madoff Picture Just Weeks Before His Arrest
Madoff Could Face UK Charges
Serious International Implications. The investigation into Bernard Madoff’s historic Ponzi scheme has revealed serious international implications. Madoff’s so-called investment business had operations in London, which, say United Kingdom prosecutors, played “a significant role” in the multi-billion dollar fraud perpetrated by Madoff, … [Read more...] about Madoff Could Face UK Charges
Madoff Bankruptcy Blocked
Federal Judge Just Blocked the Assets of Bernard Madoff. A federal judge just blocked the assets of Bernard Madoff from being moved into bankruptcy, reports CNN. It seems the court found probable cause that the “assets should be forfeited to the government,” said CNN. Earlier this month, investors petitioned a federal judge to … [Read more...] about Madoff Bankruptcy Blocked
Almost $7M More Found in Madoff Funds
$7 Million in Six Madoff Accounts. Irving Picard, the special trustee investigating Bernard Madoff’s bogus financial schemes has found close to $7 million in six Madoff accounts at Bank of New York Mellon Corporation, reports Newsday, citing bankruptcy court papers. According to the article, the accounts range in size from 5,372 to … [Read more...] about Almost $7M More Found in Madoff Funds
Madoff Friend Pulled Down Big Profits
Liquidating Bernard Madoff’s Assets. Based on court papers, Irving Picard, the court-appointed trustee liquidating Bernard Madoff’s assets, is focusing on the 96-year-old Carl Shapiro, reports Newsday. Shapiro a philanthropist known for founding Kay Windsor, a women’s apparel firm, in 1939, is said to be almost blind in one eye, … [Read more...] about Madoff Friend Pulled Down Big Profits
Madoff Report May Stay Sealed
Bernard Madoff Report. In addition to bilking countless investors out of their life savings, the massive Ponzi scheme, orchestrated by imprisoned, disgraced financier, Bernard Madoff, has also thrust some Securities and Exchange Commission (SEC) weaknesses into the spotlight. Madoff is now spending 150 years in prison for … [Read more...] about Madoff Report May Stay Sealed
