Peter Madoff will serve 10 years in prison for his role in his older brother’s multibillion-dollar Ponzi scheme, a U.S. judge said on Thursday. Peter Madoff, 67, pleaded guilty in June to criminal charges including conspiracy to commit securities fraud for falsifying the books and records of the investment advisory company founded by his brother, […]
Victims of Bernard Madoff’s fraud will soon receive $2.48 billion to help cover their losses, more than tripling their total recovery to about $3.63 billion, the trustee liquidating the imprisoned swindler’s firm said. Checks ranging from $1,784 to $526.9 million were mailed on Wednesday to 1,230 former customers of Bernard L. Madoff Investment Securities LLC, […]
On June 29, 2012, the Securities and Exchange Commission charged Peter Madoff, the brother of Bernie Madoff, with committing fraud, making false statements to regulators, and falsifying books and records in order to create the false appearance of a functioning compliance program over Madoff’s fraudulent investment advisory operations. The SEC alleges that Peter Madoff, who […]
The NY Mets and owners announced a deal with a trustee for Bernard Madoff’s fraud victims that requires them to pay millions less than they might have. Mets CEO Fred Wilpon and team president Saul Katz, co-majority owners, emerged smiling from a Manhattan federal courthouse after a judge announced the agreement, which makes it likely they’ll pay […]
On December 19, 2011, the Securities and Exchange Commission charged a longtime Bernie Madoff employee with falsifying books and records in order to hide Madoff’s fraudulent investment advisory operations from regulators. The SEC alleges that Enrica Cotellessa-Pitz, who worked at Bernard L. Madoff Investment Securities LLC (BMIS) for more than 30 years, assisted in falsifying […]