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By Bill Boyarsky
$12.15
By Jeanette Winterson
$25.00
$13
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The Smoking Gun via Wikimedia Commons
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R. Allen Stanford is perhaps not as well known as Bernie Madoff, but the two men have one thing in common—both received long sentences for their roles in separately orchestrating two of the largest Ponzi schemes ever.
Posted on Jun 14, 2012
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Wikimedia Commons: U.S. Department of Justice / Georges Biard (CC-BY-SA) / U.S.
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The spectacular flameout of Bernard Madoff after the big reveal of his fraudulent financial empire played out like Shakespeare for the 21st century, and master actor Robert De Niro was clearly paying attention.
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AP / Louis Lanzano
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Ponzi schemer Bernard Madoff’s got nothing but time as he serves his sentence in a North Carolina prison for defrauding a vast network of clients out of billions of dollars, and he’s apparently not averse to spending some of it sitting for interviews that aren’t likely to help his standing much.
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Jason Mitchell (CC-BY-ND)
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Federal prosecutors Tuesday accused Full Tilt Poker, an online gambling operation, of running a global Ponzi scheme that siphoned $444 million from player accounts to pay off celebrity board members and cover business expenses. (more)
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AP / John Minchillo
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By Amy Goodman — If 2,000 tea party activists descended on Wall Street, you would probably have an equal number of reporters there covering them.
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Eric Allie, Caglecartoons.com —
Posted on Sep 15, 2011
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AP / Louis Lanzano
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It’s hard to believe that it has already been two years since the implosion of Bernie Madoff’s devastating Ponzi scheme, and it’s hard to comprehend why the fallen financier would choose this moment to unburden himself to New York magazine’s Steve Fishman ...
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AP / Louis Lanzano
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It appears that some higher-ups at JPMorgan Chase were on to fraudster Bernie Madoff nearly two years before the catastrophic implosion of his Ponzi scheme, but said execs didn’t take this knowledge as reason enough to stop doing business with him.
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AP / Louis Lanzano
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The cash pot available to compensate victims of Bernie Madoff’s massive Ponzi scheme has grown by $7.2 billion after a settlement was reached with the estate of a Palm Beach client of the Wall Street shyster.
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AP / Jason DeCrow
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Fallen financier Bernard Madoff’s brother, sons and niece are now in legal hot water after a court-appointed trustee filed suit against them on Friday for allegedly pocketing “ill-gotten gains” they received from Madoff’s fraudulent business ventures, according to The Wall Street Journal.
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gawker.com
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Disgraced former Wall Street baron Bernard Madoff might have made millions swindling others for profit during his heyday, but he doesn’t seem to have made much of a literary cottage industry for writers presumably looking to cash in on his downfall. Not even the “I-was-Bernie’s-mistress” angle is tempting book buyers at this point.
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AP / Louis Lanzano
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It was a sad case of too little, too late when it came to the Securities and Exchange Commission’s readings of Bernie Madoff’s now-collapsed house of cards. On Wednesday, the SEC released a report about Madoff’s massive financial boondoggle, detailing the many moments in which chances were missed to stop the damage from spreading as far as it did.
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AP / Louis Lanzano
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Bernard Madoff’s connection with the New York-based Jewish charity Hadassah has become fraught above and beyond the economic level since the organization’s CFO, Sheryl Weinstein, claimed that she and the fallen financier had an affair, which she details in her upcoming memoir, “Madoff’s Other Secret: Love, Money, Bernie, and Me.”
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AP / Louis Lanzano
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Despite several occasions when he thought he had been nailed by the SEC, Bernard Madoff continued with his Ponzi scheme, revealing in his first jailhouse interview that he was “amazed” that he got away with it for so long. Madoff spoke to lawyers about his financial larceny Tuesday, during which he was called both candid and an “absolute gentleman.”
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AP photo / Louis Lanzano
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Bernard Madoff, the man responsible for the biggest Ponzi scheme in human history, has been sentenced to 150 years in prison. The judge was unswayed by the “tormented state” Madoff now finds himself in after swindling $65 billion over a span of 20 years, which affected thousands of people, from Elie Wiesel and Sandy Koufax to small investors and retirees.
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msrb.wordpress.com
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Some of them have only their homes, while others have no remaining assets and no means to earn income, but all of the former clients of Bernard Madoff (above) whose statements were made public by the government on Friday described in nightmarish terms their experiences since Madoff’s fraudulent investment empire crumbled.
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U.S. Department of Justice
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David Friehling, the accountant of Bernard Madoff (pictured above), was arrested Wednesday on charges of securities fraud. Friehling is the first alleged accomplice to be named by authorities in connection with Madoff’s $65 billion Ponzi scam, though the accountant was charged with auditing failures, not direct participation in the scheme itself.
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minimemodelworks.com
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Although $10 million is a lot of money, it’s not much compared with $50 billion in lost investments. The $10 million figure represents the upper limit of the current value of Bernard Madoff’s businesses, which Madoff had valued at $826 million before his proverbial fall. It doesn’t look good for his defrauded investors’ chances of reclaiming much of their missing funds.
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AP photo / Jason DeCrow
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Citing such sketchy precedents as rulings in the cases of Enron’s Kenneth Lay and Jeffrey Skilling, Bernard Madoff’s legal team filed an appeal at a New York federal court on Friday requesting that their client be released on bail until he is sentenced on June 16.
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AP Photo/ Louis Lanzano
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The country’s most notorious scam artist, Bernard Madoff, pleaded guilty on Thursday to fleecing thousands of investors out of as much as $65 billion at the New York District Courthouse, where several of his defrauded clients turned up to hear him speak.
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AP photo / Louis Lanzano
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It’s not as though he has many other options, but alleged fraudster Bernie Madoff is preparing to plead guilty on Thursday to swindling thousands of clients out of as much as $50 billion in investments.
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Even though this CBS report seems to want to make a feel-good story out of this one, it’s more the stuff of nightmares, despite 90-year-old Ian Thiermann’s good-natured take on his fate. After being retired for 30 years, Thiermann discovered that he’d lost his entire retirement fund due to Bernie Madoff’s shenanigans, and now Thiermann is working for $10 an hour in a California supermarket.
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minimemodelworks.com
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Ah, capitalism. First, we had Ponzi schemer Bernard Madoff making big money off his clients, and now here comes ModelWorks, a toy manufacturer with an enterprising plan for how to profit off the failed financier in turn.
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seemoresplayhouse.com
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Not that anyone else who suffered losses at the hands of failed financier Bernard Madoff is any less important, but it turns out that actor Kevin Bacon is one member of the vast network of investors in Madoff’s collapsed company, along with famed pitcher Sandy Koufax.
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AP photo / Jason DeCrow
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It might seem a stretch, but fallen financier Bernard Madoff’s legal team may be “exploring an insanity defense,” according to the New York Daily News.
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The co-founder of one of Bernard Madoff’s biggest corporate clients, Access International Advisers, was found dead of an apparent suicide on Tuesday morning in his New York office.
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blog.kir.com
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Turns out that certain employees at the Securities and Exchange Commission weren’t just asleep at the wheel, as it were, when they should have been paying more attention to Bernard Madoff’s worrisome investment activities.
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AP photo / Gerald Herbert
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On Thursday, President-elect Barack Obama introduced three top financial appointees who will help him with the unenviable task of revamping the government’s economic regulatory system and “crack[ing] down on this culture of greed and scheming that has led us to this day of reckoning,” as Obama put it.
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streetinsider.com
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Here’s yet another candidate for the expanding collection of Tales from the Dark Side of Wall Street (is there any other side?): The Wall Street Journal reported Friday that Bernard L. Madoff, a top trader for nearly five decades who has served as chairman of the Nasdaq Stock Market, was arrested this week after his sons turned him in for engineering an elaborate “Ponzi scheme.”
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Marching in Chicago: Resisting Rahm Emanuel’s Neoliberal Savagery
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