A week after former IMF chief Dominique Strauss-Kahn posted a $1 million cash bail and a $5 million bond, he was moved from temporary lodgings on lower Broadway to a large townhouse in Tribeca. Unlike a large apartment building, a townhouse has no doorman, but for DSK, there is no need.
We have always known that heedless self-interest was bad morals,” FDR said in 1937, in the midst of the Great Depression. “We know now that it is bad economics.” We learned this all over again after the collapse of Lehman Brothers, the shame of subprime mortgages and the brazen Ponzi scheme of Bernie Madoff.
A major investor in convicted swindler Bernie Madoff’s Ponzi scheme drowned in his swimming pool in Florida after a heart attack, his attorney said Monday. The medical examiner’s office confirmed the report.
Federal prosecutors are seeking the forfeiture of Bernard Madoff’s four homes and other assets after Madoff’s guilty plea to masterminding a massive investment fraud. Madoff is in jail at the Metropolitan Correctional Center in lower Manhattan after pleading guilty to operating on the largest Ponzi schemes in history.
Bernard Madoff, who pleaded guilty to operating a multibillion-dollar Ponzi scheme, is worth up to $826 million, according to a document filed with a federal court on Friday. Madoff values his business — Bernard L.
Elisa Schindler says she is relieved her father, the late Rabbi Alexander Schindler, didn’t live to see the destruction caused by Wall Street swindler Bernard Madoff. “Here’s a man who dedicated his entire life to making the world a better place and contrast that with a man who didn’t do that,” she says
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.
With so many Ponzis and so little time to know if you’ve been hoodwinked, there are some red flags even the most trusting investors can bank on: yachts, mansions, jets and women. If your investment adviser is dabbling in any of the above, there’s a good chance you’ve been “Ponzi-ed” or are about to be. Creating the illusion of fantastic success, of course, is chapter one in the Scammer’s Handbook.
Elie Wiesel, the Nazi concentration camp survivor who went on to win the Nobel Peace Prize, showed little inclination this week to make peace with accused swindler Bernie Madoff, whom he called "one of the greatest scoundrels, thieves, liars, criminals." “Could I forgive him No,” the 80-year-old told a panel assembled Thursday by Conde Nast’s Portfolio Magazine at New York’s 21 Club to discuss Madoff, whose alleged victims included Wiesel and his foundation, The Elie Wiesel Foundation for Humanity. “To forgive, first of all, would mean that he would come on his knees and ask for forgiveness,” the Auschwitz survivor said