The younger brother of Bernard Madoff will serve 10 years in prison for his role in his brother's Ponzi scheme that stole billions of dollars from investors, a U.S. judge said on Thursday.
The owners of the New York Mets will pay up to $162 million to settle a "clawback" lawsuit filed in the Bernard Madoff Ponzi scheme.
Financial swindler Bernard Madoff said that he is happier in prison than he was on the outside because he no longer lives in fear of being arrested and knows he will die in prison, TV journalist Barbara Walters said on Thursday.
Ruth Madoff said in an interview that she and her husband, Ponzi schemer Bernard Madoff, attempted to commit suicide in 2008.
Imprisoned financial scam artist Bernard Madoff boasted in a jailhouse letter that he is "quite the celebrity" and treated "like a Mafia don," ABC News said on Thursday.
It’s hard to imagine a more timely book than “Confronting Scandal: How Jews Can Respond When Jews Do Bad Things” by Dr. Erica Brown (Jewish Lights: $24.99). The book comes too late for Bernie Madoff, but Anthony Weiner needs a copy, and so does DSK. Indeed, all of us who look on public scandals that involve Jewish figures as a “shanda far de goyim” — a shame in the eyes of the non-Jews — will find it fascinating.
The trustee for the Bernard Madoff estate has sued the owners of the New York Mets, claiming they should have known the money made with Madoff was done so nefariously.
The largest settlement to date in the Bernard Madoff multi-billion dollar Ponzi scandal has been approved by a U.S. judge today, the Los Angeles Times reports.
Last Friday, the publisher of a promising real estate newsletter called Sonar Report rose before dawn, scoured the news to gather items for that day’s edition and, at 9:04 a.m., sent it out to his e-mail subscribers. Unknown to almost all of his subscribers, that publisher was Mark David Madoff, the older son of the convicted swindler Bernard L. Madoff.
The estate of one of the largest beneficiaries of Bernard Madoff’s multibillion dollar Ponzi scheme, Jeffry Picower, has agreed to return $7 billion to Madoff’s victims. The figure is the difference between the amount of cash that Picower, a Jewish investor, put into his account with Madoff and the amount that he withdrew, The New York Times reported. The deal was set to be announced at a news conference on Friday.
With Mark Madoff’s suicide over the weekend, we witnessed the burden of a father’s sins. The Madoff Family’s tragic narrative reinforces why a person’s legacy truly matters. To expand on this teachable moment, JInsider looked to better understand personal legacy through the perspective of Jewish wisdom. (See full video discussions on www.jinsider.com)
When Bernard Madoff’s multibillion-dollar Ponzi scheme first came to light two years ago, several Jewish organizations suffered heavy losses, their assets devastated by the fraud. Now with the filing of lawsuits by the trustee for Madoff’s estate, it is the winners -- the Jewish organizations that inadvertently benefited from the scheme -- that are at risk of losing money. Among them are:
A prominent Austrian banker who portrayed herself for two years as one of Bernard L. Madoff’s biggest victims was accused on Friday of conspiring for 23 years to funnel more than $9 billion into his immense global Ponzi scheme.
Sheryl Weinstein, the high-profile victim of Bernard Madoff claiming to have had an affair with the confessed swindler, kicked off her book tour Tuesday with an appearance on ABC’s “Good Morning America.”
Madoff, who is serving 150 years at a North Carolina federal prison after pleading guilty to swindling more than $65 billion, has been telling fellow inmate he doesn't have much longer to live.
Of all the shocks of the Bernie Madoff heist, perhaps none was more stunning than the list of victims. Among them were several Jewish foundations and many of our community’s most prominent nonprofits. The losses were staggering, and in some cases crippling.
On Tuesday came word that Bernard Madoff, accused of running the largest Ponzi scheme in history, would plead guilty to charges that would result in a life sentence.
On March 4, Bruce Friedman, a Sherman Oaks-based mortgage banker, was charged by the Securities and Exchange Commission (SEC) with orchestrating a $216 million real estate investment fraud.
" . . . We do not discriminate between Jews and Arabs when violence is directed against innocents; we mourn the loss of life on both sides . . . "
" . . . Some people might think that you would never find a Jewish symbol on The Journal cover on a Jewish holiday, but they would be wrong . . . "
I don't know about you, but I've had it up to here with once-in-a-lifetime events.
Anger has begun to supplant shock as those who contribute to prominent Jewish charities or work on their behalf gasp for comprehension of the unprecedented percussion that the Bernard L. Madoff investment fraud is having on their favorite causes.
Trusted friend of the community on hot spot as fight over lost $400 million begins
" . . . I am so proud of Rob Eshman. His condemnation of Bernard Madoff flies in the faces of those many Jews who believe in the lunacy that Jews can do no wrong . . . "
If you scroll through the list of Madoff's philanthropic victims, you'll find plenty of evidence that even Jews who have shed every vestige of their ancient practice short of circumcision still resonate to the prophetic call to heal the wider world.
It's like a quadruple shot of cheap vodka that you drink quickly on an empty stomach. You feel disgusted and drunk at the same time.
Why is this fraud different from all other frauds?
Years from now, lawyers, journalists and historians are likely to still be debating the causes and consequences of Madoff's massive deception. Untangling the mess will not only be crucial in the bid to provide restitution to some victims, it will also become a case study of how not to repeat the same mistakes.
" . . . It's a convergence of factors all at once: The government is unraveling, the economy is hurting our supporters and now you have not only the decline on Wall Street but also this fraud. It's a perfect storm . . ."
In the eyes of the American judicial system, said fraud investigators and asset hunters, some innocent victims of Madoff's massive Ponzi scheme are legitimate targets for government and civil actions seeking to compel them to disgorge any gains they derived.
The Ponzi scheme perpetrated by Bernard Madoff is the latest in a string of financial blows to Jewish aid programs in the former Soviet Union, wiping out a major foundation that was the primary funder of Jewish higher education in Russia
As the community looks forward, it is imperative that the oversight of investments be executed in a manner that meets the highest fiduciary standards.