Muckety
Bernard Madoff: Web of deception
Wall Street trader Bernard Madoff was arrested Dec. 11 and charged with running a $50 billion "Ponzi scheme" that allegedly defrauded tens of thousands of investors, from France's richest woman, Liliane Bettencourt, to a charity run by Holocaust survivor Elie Wiesel. Here is Muckety's coverage of developments in a case that may turn out to be one of the biggest frauds of all time.

After telling a federal judge that he had no excuse for his actions, Bernard Madoff was sentenced Monday to 150 years in prison.

The SEC filed suit Monday against a New York company and four individuals, accusing them of feeding billions to Bernard Madoff’s Ponzi scheme.

The court-appointed trustee of Bernard Madoff’s defunct firm is going after the millionaire middlemen who acted as witting or unwitting accomplices to Madoff’s $65 billion Ponzi scheme.

Financier and philanthropist J. Ezra Merkin assented Tuesday to step down as manager of his hedge funds and to place them into receivership.

It looks like court-appointed Madoff trustee Irving Picard is going after the whole shebang: Not just Bernard Madoff’s Manhattan penthouse and home in the Hamptons, but also a good chunk of the wealth accumulated by family members.

Jewish philanthropist Stanley Chais was one of Bernard Madoff’s earliest investors, steering tens of millions of dollars of other people’s money to the convicted swindler.

The financier, philanthropist and former GMAC chairman who steered more than $2 billion of investors’ money into Bernard Madoff’s Ponzi scheme was sued Monday by New York Attorney General Andrew Cuomo.

British investigators said Friday that Ruth Madoff got a $2 million payment from the London division of her husband’s securities firm just weeks before he was arrested for securities fraud.

The younger brother and business partner of convicted felon Bernard Madoff is under increasing scrutiny from investigators, as well as from victims of the $65 billion fraud.

Authorities plan to go after more than $100 million in real estate, cash, art, autos, boats and other property owned by Ruth Madoff and her husband Bernard Madoff, who pleaded guilty last week to running the largest Ponzi scheme in history.

Disgraced Wall Street trader Bernard Madoff was sent to jail Thursday after pleading guilty to all 11 charges against him, and expressing shame and sorrow for bilking investors of nearly $65 billion.

Barring a change of heart, Bernard L. Madoff will plead guilty tomorrow to running a massive Ponzi scheme for at least a quarter century that defrauded thousands of people in virtually every corner of the globe.

Annette Bongiorno, a longtime aide to accused swindler Bernard Madoff, allegedly instructed assistants to create bogus trading tickets which were used to mislead investors, according to the Wall Street Journal.

The wife of accused swindler Bernard Madoff argues that their $7 million Manhattan penthouse and an additional $62 million in assets belong to her.

Relatives of New Jersey Sen. Frank Lautenberg are pursuing a novel approach to try to recover millions they lost in Bernard Madoff’s alleged $50 billion Ponzi scheme. They’re suing his brother.

It was Bernard Madoff’s financial meltdown that helped implicate R. Allen Stanford, the flamboyant Texas billionaire accused of defrauding investors of $8 billion.

Another swindled victim of Bernard L. Madoff has taken his life.

The Bag Lady may get to keep her expensive jewelry and her West Palm Beach cottage after all.

The wife of accused Wall Street swindler Bernard Madoff pulled millions out of a brokerage account only days before her husband was charged with securities fraud - including $10 million on the eve of his arrest, Massachusetts’ top securities regulator said Wednesday.

Bernard Madoff and the Securities and Exchange Commission have agreed to a partial settlement of civil suit accusing Madoff of defrauding investors.

We’ve departed today from our tradition of drawing a Muckety map to accompany each story, choosing to instead show a Google map illustrating the geographic reach of the Bernard Madoff debacle.

Madoff is made for Hollywood

By Laurie Bennett  |  February 5, 2009

With the emergence of a hero yesterday on Capitol Hill, casting of Bernie Madoff the Movie would seem to be complete.

Investigators probing alleged swindler Bernard Madoff’s Ponzi scheme say they’ve discovered boxes loaded with documents from his firm stashed in a warehouse in Queens, the Associated Press reports.

A bad year for Wall Street and a bad year for Bernard L. Madoff is turning out to be a bad year for the Harlem Children’s Zone, a successful New York City education reform project.

Investigators probing Bernard Madoff’s alleged $50-billion scheme are looking at the role played by an investment firm that he co-founded with an old friend from Long Island that recruited hundreds of investors from New York, Boston and Florida.

Bernard Madoff may be negotiating a plea deal.

Pursuing efforts to jail Bernard Madoff, federal prosecutors disclosed Thursday that investigators had found about 100 signed checks to friends and relatives, totaling more than $173 million, on the day of his arrest.

Bernard L. Madoff mailed Cartier and Tiffany watches, an emerald ring and a diamond necklace worth a total of at least $1 million to relatives and friends in violation of a court order, and should be immediately jailed because he is a flight risk, prosecutors said in court papers released Wednesday.

Harry Markopolos is being called the Deep Throat of the Bernard Madoff scam. He describes himself as “the boy who cried wolf.”

Henry Kaufman, the Wall Street economist and investor legendary for his accurate predictions, wasn’t clairvoyant when it came to Bernard L. Madoff.

After spending half a lifetime being eclipsed by his famous father, J. Ezra Merkin is getting his 15 minutes of fame.

The Bernard Madoff Ponzi scheme ranks as one of the most surprising and fascinating webs we’ve ever tracked.

Could one man operate an alleged $50-billion Ponzi scheme without help from anyone else?

The hedge fund executive who committed suicide in his 22nd-floor office on Madison Avenue was a blue-blood French aristocrat and champion yachtsman entrusted with the money of some of Europe’s wealthiest families.

What’s a Ponzi scheme got to do to get lasting respect? In October, Thomas J. Petters, a Minnesota businessman, was the talk of the business world for allegedly defrauding investors of $3 billion or more.

In recent days, New York’s Fifth Avenue Synagogue has become a Who’s Who of Bernard Madoff victims.

One charity with Madoff connections has managed to emerge unscathed.

Mary L. Schapiro, Barack Obama’s pick to head the Securities and Exchange Commission, is being described as the right person to help restore the commission’s battered reputation.

Disgraced trader Bernard Madoff may be relieved not to have to trade in the comforts of his $7 million East Side penthouse for a jail cell, but his neighbors are none too happy.

Members of Bernard L. Madoff Investment Securities Inc. have hired some of the best-connected lawyers in the business.

The late Hermann Merkin was a lion of Jewish philanthropy who gave millions to help build Yeshiva University, the Fifth Avenue Synagogue, and Merkin Concert Hall, among other causes. Now, his son, J. Ezra Merkin, has managed to wipe out much of what he spent a lifetime creating.

The Wall Street trader who engineered what may be the largest scheme in history to defraud investors spent nearly $1 million to lobby lawmakers and members of the Securities and Exchange Commission.

Money is in. Murder is out. High-profile crime seems to have gone upscale (think Rod Blagojevich, think Bernard Madoff), blue collar turning white.

The casualties of Bernard Madoff’s alleged $50-billion Ponzi scheme include some of the biggest names in Jewish philanthropy, in addition to titans of the business and real-estate worlds.

Bernard L. Madoff, the founder of Bernard L. Madoff Investment Securities and a former NASDAQ governor, was arrested Thursday morning and charged with multi-billion-dollar criminal securities fraud.


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