The long-time director of operations for convicted Ponzi schemer Bernard Madoff’s defunct firm was arrested and charged criminally Thursday with allegedly directing that false accounting entries be made in the firm’s books to conceal Mr. Madoff’s fraud. Prosecutors from the U.S. Attorney’s Office in Manhattan charged Daniel Bonventre, former operations director at Bernard L. Madoff […]
The Securities and Exchange Commission today announced that Bernard Madoff’s auditors have agreed not to contest the SEC’s charges that they enabled Madoff’s fraud by falsely stating they audited the convicted fraudster’s financial statements in accordance with the relevant accounting and auditing standards. On November 3, 2009, the SEC submitted to the Honorable Judge Louis […]
Just months before his now-infamous Ponzi scheme collapsed, Bernie Madoff snookered a Merrill Lynch adviser who was attempting to perform due diligence on him for a foundation that serves the elderly, according to a lawsuit filed in federal court in Florida last week. In the complaint, MorseLife Foundation is seeking at least $33 million in […]
The holders of more than two dozen retirement accounts have sued the Westport National Bank in Connecticut over its role in handling their investments in Bernard L. Madoff’s long-running Ponzi scheme. The lawsuit, filed on Wednesday in Connecticut Superior Court in Stamford, seeks to recover $60 million that the retirement plans lost when the Madoff […]
Convicted swindler Bernard Madoff was sentenced to 150 years in prison Monday for fraud so extensive that the judge said he needed to send a symbolic message to those who might imitate his fraud and to victims who need relief. Applause broke out in the crowded Manhattan courtroom after U.S. District Judge Denny Chin issued […]