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The complaint [68] alleged Chais "knew or should have known" he was deep in a Ponzi scheme when his family investments with Madoff averaged 40% annual returns on investment and sometimes soared as high as 300%. It also claimed Chais was a primary beneficiary of the scheme for at least 30 years, allowing his family to withdraw more than $1 ...
The term clawback or claw back refers to any money or benefits that have been given out, but are required to be returned (clawed back) due to special circumstances or events, such as the monies having been received as the result of a financial crime, or where there is a clawback provision in the executive compensation contract.
In the past five months, Dottore has filed 71 clawback lawsuits in Summit County court against individuals and businesses that he claims profited from Dente’s investment scheme. The suits seek ...
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. [1] In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
Individuals involved in a “Ponzi” scheme investment company which caused people to lose their life savings are liable to pay millions in damages, the High Court has ruled. London Capital ...
The “too good to be true” agribusiness promised a 15% guaranteed return on just $2,000 down, the government said. ... they’re accused of a $161 million Ponzi scheme. Dylan Sloan. May 17 ...
In economics, the term "Ponzi game" designates a hypothesis where a government continuously defers the repayment of its public debt by issuing new debt: each time its existing debt arrives at maturity, it borrows funds from new and/or existing lenders in order to repay its existing debt.
To the prosecution in his wire fraud trial, lawyer Tom Girardi ran 'a Ponzi scheme.' His defense attorneys say he was the victim of a thieving colleague. 'Thief-in-chief': Jury left to decide Tom ...