Bernie Madoff’s brother Peter Madoff is headed to prison for his role in the notorious billion-dollar Ponzi scam. But not before reportedly attending his granddaughter’s super-luxe bat mitzvah. A judge hit Peter Madoff, 67, with a 10-year sentence. But after received pleas from family and clergy, the jurist allowed the disgraced Madoff brother to report…
One of Bernard Madoff’s longest-serving employees pleaded guilty on Thursday to falsifying records, a conspiracy that a prosecutor said began in the 1970s at the start of the multibillion-dollar Ponzi scheme. Irwin Lipkin, 74, a former controller of Bernard L. Madoff Investment Securities LLC, told a Manhattan federal court judge that for years he fudged…
More than $2.48 billion in additional funds recovered from the Bernard Madoff Ponzi scheme have been sent to individuals and organizations bilked out of their investments. Checks ranging from $1,784 to $526 million were mailed Wednesday to 1,230 former customers of Bernard L. Madoff Investment Securities LLC, according to the Madoff Recovery Initiative. The average…
One of Bernard Madoff’s longest-serving employees is expected to plead guilty to criminal charges in the multibillion-dollar Ponzi scheme, U.S. prosecutors said, the latest among a dozen former employees to face charges. Irwin Lipkin, a former controller of Bernard L. Madoff Investment Securities LLC, will appear in Manhattan federal court on Th ursday, prosecutors said…
Three and a half years later, victims of Bernard Madoff?s massive financial fraud are still waiting to get back their money. Billions already recovered are tied up in litigation, and despite recent advances, there?s no resolution in sight. Attorneys came a few steps closer to digging out of the financial chasm Madoff left behind when,…
Peter Madoff, the younger brother of jailed Ponzi scheme operator Bernard Madoff, has been taken into custody by the FBI. Peter Madoff, 66, surrendered himself Friday morning at his lawyer’s office in midtown Manhattan ahead of an expected guilty plea to criminal charges related to the Ponzi scheme, according to the Wall Street Journal. He…
Queens Rep. Gary Ackerman isn’t running for reelection, and the Queens Tribune seemed to be the only media outlet that knew why. A column, penned by Tribune publisher Michael Schenkler, reported that Ackerman had signed on as a managing partner of a group of investors that had reached a deal to buy the New York…
A longtime colleague of Bernie Madoff reportedly plans to plead guilty to fraud Monday and tell a court that his ex-boss’s Ponzi scheme began two decades earlier than Madoff has claimed. The Guardian reports that David Kugel, a trader who joined Madoff’s firm in 1970, is expected to plead guilty to conspiring to defraud investors…
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