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Tag: Ponzi

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  • Report: At least 18 Jewish groups reported ‘diverted’ funds

    October 28, 2013 | 10:09 am

    At least 18 Jewish non-profit groups and non-profit groups that support Israeli institutions have notified tax authorities of likely illegal “diversions” of funds in the past five years.

    The Washington Post on Sunday published its review of more than 1,000 non-profit...

  • Letters to the Editor: Monty Hall, Anne Frank, Boston Hero, Syria

    May 8, 2013 | 7:07 pm

    L.A.’s Jewish Presence

    Great cover story (“How the Jews Changed L.A.,” May 3). 
If it were not for the innovative ways of the Jewish people, Los Angeles would not be the entertainment empire it is today. 
In fact, it would be decades behind where it is and Sid Grauman might be...

  • The one question Madoff’s victims forgot to ask

    By Mark Eshman

    April 24, 2013 | 10:30 am

    (3/29/12 – CBS Marketwatch) Bernie Madoff: “From my first interview to the media I have said that ‘the banks must have known,’ and were complicit and contributing to my crime.”

    He’s back.  In a pathetic effort to reduce his 150 year sentence while also offering his unsolicited...

  • Obama returning money from alleged Ponzi schemer

    April 26, 2012 | 11:04 am

    The Obama campaign is returning the donation of a hedge fund manager who is accused of defrauding members of his Persian-Jewish community in Los Angeles.

    Shervin Neman, also known as Shervin Davatgarzadeh, gave the maximum $35,800 donation to the Obama campaign and another $30,800...

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  • SEC halts Ponzi scheme targeting Persian Jews in L.A.

    April 16, 2012 | 10:02 am

    A Ponzi scheme targeting the Persian-Jewish community in Los Angeles was shut down by the U.S. Securities and Exchange Commission.

    The SEC obtained an emergency court order on April 13 to stop the scheme.

    According to the SEC, Shervin Neman, also known as Shervin Davatgarzadeh,...

  • Mets’ owners settle lawsuit in Madoff Ponzi scheme

    March 19, 2012 | 10:31 am

    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.

    Fred Wilpon and his brother-in-law Saul Katz will not have to make payments for three years under the agreement.

    The lawsuit was settled Monday...

  • Two Jews on Film: ‘Tower Heist’ review

    November 4, 2011 | 2:02 pm

    All I can say is…thank the Movie Gods for Eddie Murphy…because he single handedly put the funny in this new so-called, comedy entitled, ‘Tower Heist’, directed by Brett Ratner.

    So here’s the story in a nut shell…

    There’s this super sleazy, super rich, Wall Street dude named, Arthur...

  • The Madoff Family Continues Their Deception

    By Ilana Angel

    November 4, 2011 | 8:36 am

    I certainly feel sorry for Ruth Madoff that she lost her son Mark, but with that said, I think his blood is all over her hands.  As I sat watching her, and her other son Andrew on 60 Minutes, I found myself getting angry.  I did not believe what either one of them said.  Something is...

  • Madoff boasts he is “quite the celebrity” in prison

    October 21, 2011 | 2:17 pm

    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.

    ABC, which will feature an interview with Madoff’s daughter-in-law on news program “20/20” on Friday, released...

  • Madoff ‘clawback’ suit going after Jewish group helping elderly

    October 17, 2011 | 11:16 am

    The trustee charged with recovering assets lost in Bernard Madoff’s Ponzi scheme is suing the Jewish Association for Services for the Aged for $5.2 million.

    The case, Picard v. Jewish Association, was filed in U.S. Bankruptcy Court, Southern District of New York in Manhattan on...

  • Ruth Madoff reportedly to divorce Bernie

    August 15, 2011 | 1:29 pm

    Ruth Madoff will divorce her husband, Ponzi schemer Bernard Madoff, in order to reconcile with her son, a Madoff biographer said.

    Ruth Madoff, 70, reportedly has not visited her husband of 52 years in prison since their son Mark, 46, committed suicide last December, according to...

  • Madoff Speaks from Prison

    By Susan Freudenheim

    February 16, 2011 | 9:18 am

    In a lengthly, far reaching article based on Bernard L. Madoff’s first prison interview, which took place Tuesday, Feb. 15, as well as a series of emails from December and January, Diana B. Henriques reveals that Madoff believes some of the banks “had to know” what he was doing...

  • Picower estate to return $7 billion made in Madoff scam

    December 17, 2010 | 10:38 am

    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...

  • Tell-all book drags Hadassah back into Madoff story

    August 25, 2009 | 7:49 am

    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.”

    Why would a married woman, interviewer Chris Cuomo wanted to know,...

  • Bernie Madoff Reportedly Dying of Cancer

    August 24, 2009 | 12:29 pm

    From NYPost.com:

    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.

    “He’s been taking about 20 pills a day for his cancer,” one inmate told the newspaper. “He talks about it all the time. He’s not doing very well.”

    Read the full story here.

  • Madoff’s Secretary Squeals…Sorta [VIDEO]

    By Susan Freudenheim

    May 6, 2009 | 5:38 pm

    Eleanor Squillari, Bernie Madoff’s personal assistant spilled few beans on the Today Show this morning, but she did her best to make it seem like she was.

    “I know that he knew it was all going down,” she said, explaining that after Madoff’s office had been searched and...

  • Wiesel and Foundation Receive Generous Support

    By Tom Tugend

    March 30, 2009 | 3:10 pm

    After Elie Wiesel lost more than $7 million of his personal fortune in the Bernard Madoff scandal, and his foundation took a $15.2 million hit, the Nobel Prize winner roundly cursed the Ponzi scheme artist, but he has now discovered a redeeming aspect to the financial blow.

    Wiesel...

  • Jeffrey Katzenberg: Madoff did ‘extraordinary damage’

    By The Web Guy

    January 8, 2009 | 7:09 pm

    Jeffrey Katzenberg is not a happy mogul, at least according to Bloomberg News:

    Jeffrey Katzenberg, chief executive officer of DreamWorks Animation SKG Inc., said personal losses from investments with Bernard Madoff did “extraordinary damage” to his philanthropic efforts.

    “The...

  • Anger replaces shock as Madoff scam puts spotlight on charity boards

    By Dean Rotbart

    December 30, 2008 | 6:42 pm

    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.

    While Madoff himself is a primary...

  • Iranian Jewish community split as creditors force Ezri Namvar into bankruptcy

    By Karmel Melamed

    December 30, 2008 | 4:46 pm

    Businessman and philanthropist Ezri Namvar was once a pillar of the local Iranian Jewish community, a trusted friend to whom many in the community loaned freely and without fear.

    Now Namvar and his investment company, Namco Capital Group, Inc., are accused of losing as much as $400...

  • Madoff scheme deals new hit to FSU Jews

    December 24, 2008 | 2:01 am

    MOSCOW (JTA) -- 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.

    The Chais Family...
  • Madoff

    By Rob Eshman

    December 18, 2008 | 3:54 am

    I wish Jews believed in hell, because then I could take comfort that Bernard Madoff will go there.

    Madoff ran the New York-based firm, Bernard L. Madoff Investment Securities, which was reported last week to have been a $50 billion fraud, a Ponzi scheme that paid investors with other...

  • ‘Golden boy’ J. Ezra Merkin accused of misleading Jewish investors, groups

    December 17, 2008 | 4:22 am

    Bernard Madoff is not the only trustee of Yeshiva University who resigned in shame last week.

    While international attention continues to focus on Madoff, who faces charges for his alleged $50 billion Ponzi scheme, some leaders in the Jewish community, particularly within Modern...

  • Madoff’s ‘unspeakable evil’ shocks those who thought they knew him well

    By Dean Rotbart

    December 16, 2008 | 8:21 pm


    AP Video: How a Ponzi scheme works


    In April 2004, Bernard L. Madoff and his wife, Ruth, devised a plan to save Jewish lives.

    In the effort to bolster Gift of Life, a Florida-based nonprofit that maintains a unique Jewish bone marrow registry, the Madoffs funded and helped roll out an...

  • Madoff scandal rocks Jewish philanthropic world

    December 15, 2008 | 4:20 pm

    NEW YORK (JTA) -- Tthe securities fraud of Bernard Madoff has rocked the Jewish nonprofit world -- and the worst may be yet to come.

    Madoff, the founder of Bernard L. Madoff Investment Securities LLC, was arrested Dec. 11 after admitting to his board that a hedge fund he ran was...

  • Is Bernie Madoff Jewish?  Very. Oy.

    By Rob Eshman

    December 12, 2008 | 5:02 pm


    Bernard Madoff at a 2007 roundtable discussion with Justin Fox, Ailsa Roell, Robert A. Schwartz, Muriel Seibert, and Josh Stampfli.

    "It's all just one big lie."

    With those words Bernard Madoff confessed to senior executives of Bernard L. Madoff Investment Securities that the $17...
  • Fraudulent Friend

    By Gaby Wenig

    January 10, 2002 | 7:00 pm

    After being left a quadriplegic in a car accident in 1993, 53-year-old Alice Wintz received an insurance settlement that she thought would, with careful investing, leave her financially secure for life.

    So she asked money manager Reed Slatkin to invest her settlement. Wintz and her...

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