How Pennies Add Up in a Securities Fraud Case
The Justice Department last week charged two former brokers with secretly adding a few pennies to the cost of securities trades processed by the firm to generate $18.7 million in gains, but proving the...
View ArticlePeter Madoff Is Sentenced to 10 Years for His Role in Fraud
Peter Madoff, Bernard L. Madoff's younger brother, was sentenced to 10 years in prison on Thursday for his role in enabling the extensive fraud that swindled investors out of billions of dollars.
View ArticleFor U.S. Attorney’s Office, Forfeiture From Crimes Pays (Sometimes in...
The asset forfeiture unit of the United States attorney’s office in Manhattan recovered about $3 billion in crime proceeds in 2012, including a Tyrannosaurus skeleton worth more than $1 million.
View ArticleEx-Peregrine Chief Sentenced to 50 Years in Prison
A prominent futures industry executive, Russell Wasendorf Sr., was sentenced to 50 years in prison on Thursday for embezzling from his clients and defrauding banks over nearly two decades.
View ArticleCourt Expresses Antipathy for S.E.C. in Handling of Madoff Case
In its ruling that Bernard L. Madoff's investors cannot sue the Securities and Exchange Commission for not uncovering his fraud, a federal appeals court blasted the agency for its failings.
View ArticleMadoff Case Puts Focus on Duties of Custodial Banks
A lawsuit brought by investors who lost $60 million in Bernie Madoff’s Ponzi scheme claims that Westport National Bank failed to protect their money.
View ArticleMadoff Trustee Adds Details to Suit, Saying Financier Detected Fraud
Irving L. Picard, who represents victims of Bernard Madoff’s huge Ponzi scheme, says in a filing that J. Ezra Merkin “willfully blinded” himself to signs of fraud.
View ArticleDeadline Approaching, U.S. Is Weighing More Charges in Madoff Case
Among those still under scrutiny in connection with the Ponzi scheme are Shana Madoff Swanson, Mr. Madoff’s niece, and Paul J. Konigsberg, an accountant.
View ArticleAccountant Who Worked With Madoff for Years Is Indicted in Fraud
The arrest of Paul J. Konigsberg, a longtime accountant in Bernard L. Madoff’s inner circle, represents a deepening of the federal criminal investigation of Mr. Madoff's multibillion-dollar Ponzi scheme.
View ArticleMadoff Trustee Asks Supreme Court to Let Him Sue Banks
Lawyers for Irving Picard argue that a ruling that he lacks standing to sue banks on claims that they abetted the fraud contradicts other court decisions.
View ArticleImplications for Banks as Madoff Litigation Grinds On
The case is a long shot, but if the Madoff trustee is successful in being able to sue major banks like JPMorgan Chase and HSBC for ignoring warning signs, the potential liability of financial firms...
View ArticleJPMorgan Faces Possible Penalty in Madoff Case
Prosecutors are said to be considering possible criminal penalties, suspecting the bank turned a blind eye to Bernard L. Madoff's Ponzi scheme.
View ArticleBroader Pool of Madoff Victims to Benefit From Fund
So-called indirect investors, representing about 70 percent of all the claims filed, are eligible for compensation from a $2.35 billion fund collected by the Justice Department.
View ArticleCriminal Action Is Expected for JPMorgan in Madoff Case
Federal authorities and JPMorgan Chase are expected to settle charges over ties to Bernard L. Madoff, who operated a billion-dollar Ponzi scheme using an account at the bank.
View ArticleWith Crisis Behind Him, S.E.C.’s Co-Chief of Enforcement Is Leaving
George Canellos oversaw and closed some of the highest profile investigations into the financial crisis. His departure could portend a subtle shift in the agency’s enforcement agenda.
View ArticleJPMorgan Chase Nears a $2 Billion Deal in a Case Tied to Madoff
The expected deal between federal authorities and JPMorgan Chase would settle a case in which the bank is suspected of ignoring signs of Bernard L. Madoff’s Ponzi scheme.
View ArticleJPMorgan Is Penalized $2 Billion Over Madoff
The bank will pay the fine, a record for a violation of the Bank Secrecy Act, for failing to report suspicious activity by its client Bernard L. Madoff to authorities.
View ArticleWhat the JPMorgan Settlement Means
JPMorgan Chase could have dug deeper despite an obligation to monitor accounts for suspicious activity, writes Peter J. Henning. But the victims of the fraud will be getting some repayment after...
View ArticleJPMorgan Settles Madoff Charges
JPMorgan's legal penalties now total $20 billion. | A former SAC employee is expected to be the first witness called in insider trading trial. | Goldman Sachs is reshuffling its technology, media and...
View ArticleA Standoff of Lawyers Veils Madoff’s Ties to JPMorgan Chase
A new document regarding Bernard L. Madoff's relationship with JPMorgan Chase reveals that the bank and federal regulators fought over access to bank employee interviews, eventually pitting the Justice...
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