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Madoff’s brother sentenced to 10 years for fraud
Peter Madoff, brother of shamed US financier Bernard Madoff, was sentenced Thursday to 10 years in prison for cooking the books at the family investment firm. Peter Madoff, 67, pleaded guilty to conspiracy to commit securities fraud during his role as book keeper for Bernard Madoff’s once widely heralded, but…
New York baseball team trial looms over Madoff money
The owners of the New York Mets baseball team were set to go on trial Monday in a crucial test of attempts to recoup billions of dollars lost during Ponzi conman Bernard Madoff’s fraud. The official trustee seeking to help defrauded investors will try to persuade a jury that the Mets owners were…
De Niro could play fraudster Madoff in TV film
LOS ANGELES — Hollywood legend Robert De Niro is lined up to play shamed Wall Street financier Bernard Madoff in a planned US television film about his massive fraud scandal, a spokeswoman said Tuesday. The two-time Oscar winner is penciled in to play the Ponzi scheme mastermind in the made-for-TV…
Investor Cosmo gets 25 years in jail for $400 million Ponzi scheme
A US federal court on Friday sentenced a New York-based man to 25 years in prison after he admitted stealing more than $195 million from thousands of investors in a $400 million Ponzi scheme. Nicholas Cosmo — who ran two New York investment companies, Agape World Inc. and Agape Merchant…
Madoff: Insider trading rife on Wall Street
Bernard Madoff, who ran one of the biggest Wall Street frauds in history, says that many of his former colleagues in the financial industry are also crooks. In a prison interview with Fox Business Network published Thursday, the Ponzi scheme mastermind claimed that insider trading “goes on at every major…
Sen. Grassley: SEC may have covered up bank wrongdoings
WASHINGTON — A US senator said Wednesday that the Securities and Exchange Commission may have destroyed thousands of documents related to probes into possible violations by major banks and hedge funds. Senior Republican Senator Chuck Grassley said that “an agency whistle-blower” sent him a letter that described the SEC’s allegedly…
Welcome to the state of North Carolina, Bernie Madoff!
Bernard Madoff, #61727-054, will be heading to the Tar Heel State’s federal prison in Butner. He was given a 150-year prison sentence last month for an elaborate Ponzi scheme that ripped off thousands of victims. Madoff will be joining several other well-known inmates at Butner. They include Omar Abdel-Rahman, the…
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