(Reuters) — Bernard Madoff’s massive Ponzi scheme relied on reams of fake trading documents to fool regulators for decades. Now he may be the victim of a forgery himself, after a U.S. judge on Wednesday denied a bizarre motion supposedly filed by Madoff that claimed the U.S. intelligence agencies used “bio-electric sensors” to influence the…
Bernard Madoff’s sons created accounts out of thin air and engineered sham loans to buy pricey Manhattan real estate as they diverted tens of millions of dollars of money from their father’s firm, a court-appointed trustee said on Tuesday. In an amended lawsuit against Andrew Madoff and the estate of Mark Madoff, Irving Picard, who…
Bernard Madoff suffered a heart attack in prison. CNBC reported Wednesday that Madoff confirmed to them that he was hospitalized last month after a heart attack. The report said that Madoff, 75, is also suffering from stage four kidney disease. Madoff, a former stockbroker, is serving 150 years at a federal prison in Butner, N.C….
Bernard Madoff was in a “love triangle” involving one of five former employees who are about to go on trial for helping him run his multibillion-dollar Ponzi scheme, prosecutors said. Madoff pleaded guilty in March 2009 to running a fraud of up to $65 billion at his investment firm and is serving a 150-year prison…
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,…
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