Former U.S. Rep. William Jefferson of Louisiana was convicted Wednesday on 11 of the 16 corruption charges against him
The $50 billion Ponzi scheme allegedly masterminded by former Nasdaq chairman Bernard Madoff punctuated a miserable year for Wall Street in the worst possible way: by underlining, yet again, that savvy market-makers can harness arcane financial instruments as weapons of mass destruction. Left in Madoff’s wake are bankrupt investors, mortified regulators and a raft of unnoticed red flags.
Baseball slugger Barry Bonds won’t be headed to court Monday after all. Bonds’ federal trial on perjury and obstruction charges was to begin with jury selection Monday. But on Friday, prosecutors in the case filed an appeal of a court ruling about evidence admissibility, and the proceedings were stayed until further notice, the court said.