Search results
Results from the WOW.Com Content Network
A group of 700 investors is arguing that Bernard Madoff's customers should be entitled to recoveries from the Securities Investor Protection Corp. even if they collected more from the fraudulent ...
Investors in Bernard L. Madoff Investment Securities LLC lost billions of dollars in the Madoff investment scandal, a Ponzi scheme fraud conducted by Bernard Madoff. The amount missing from client accounts, over two thirds of which were fabricated gains, was almost $ 65 billion. [ 1 ]
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.
About 50 seats were set aside in the courtroom today for people who lost millions because of Bernard Madoff. I hope they got some satisfaction, however weak, when he said, "I'm deeply sorry and ...
On June 8, 2009, the Chapter 15 case was transferred to the Southern District of New York as Madoff Securities International Limited, Stephen John Akers, Mark Richard Byers, and Andrew Laurence as the Joint Provisional Liquidators, 09-12998, so it can be administered more effectively with the related involuntary bankruptcies against Madoff, and ...
The $18 billion number is tagged as actual cash put into the Madoff scheme by investors, ... Markopolos couldn't have made investigating Madoff any easier for the Securities and Exchange ...
For premium support please call: 800-290-4726 more ways to reach us
[101] [102] The SIPC case is Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC, 08-01789, U.S. Bankruptcy Court, Southern District of New York (Manhattan). On January 6, 2009, Picard and lawyers from his firm said some investors may get cash advances from SIPC well before March 4, 2009. [21]