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Keyword: madoff

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  • Investor Who Lost Millions to Madoff Leaps to Death in Midtown, Sources Say

    03/28/2017 8:28:25 AM PDT · by Oratam · 18 replies
    DNAInfo ^ | March 28, 2017 | Trevor Kapp
    MIDTOWN — A prominent financier who lost millions in Bernie Madoff’s Ponzi scheme leapt to his death from a Midtown hotel Monday afternoon, according to police sources and reports.
  • Bernie Madoff Is Peddling Hot Chocolate in Prison Yard

    01/14/2017 11:26:32 PM PST · by nickcarraway · 45 replies
    New York Post ^ | January 13, 2017 | Lia Eustachewich
    Ponzi king Bernie Madoff is seeking new business ventures behind bars — in the hot chocolate market. Madoff , 78, has bought up all Swiss Miss packets from the commissary at the Butner federal correction complex in North Carolina, and is reselling them for a profit, according to a report. “Bernie really was a successful businessman with quite original insights into the market, and he’s continued applying his business instincts in prison,” journalist Steve Fishman told MarketWatch after interviewing Madoff at length for his new podcast “Ponzi Supernova.” “He made it so that if you wanted any, you had to...
  • Makaeff v. Trump Univerity, LLC

    03/18/2016 8:36:51 AM PDT · by DrewsDad · 43 replies
    California Anti-SLAPP Project ^ | June 16, 2014 | United States District Judge Gonzalo P. Curiel
    United States District Court for the Southern District of California ORDER GRANTING PLAINTIFF/COUNTER DEFENDANT’S SPECIAL MOTION TO STRIKE DEFENDANT/ COUNTERCLAIMANT’S DEFAMATION COUNTERCLAIM; ... Between August 2008 and June 2009, Makaeff attended approximately seven real estate investing and finance seminars, workshops, and classes hosted by Trump University and spent a total of approximately $60,000 on the programs. Although Trump University asserts Makaeff was satisfied with the services Trump University provided to her, noting that Makaeff frequently provided excellent reviews of the programs,Makaeff states the Trump University programs she attended were unsatisfactory. Specifically, Makaeff alleges the programs were shorter than advertised, ,...
  • Documents Reveal What Trump Actually Said About His University

    03/07/2016 10:34:32 AM PST · by Steelfish · 72 replies
    CBS News ^ | March 7, 2016 | Julianna Goldman, Laura Strickler
    Julianna Goldman, Laura Strickler CBS News March 7, 2016 Documents Reveal What Trump Actually Said About His University Republican groups fighting Donald Trump are trying everything to derail the front-runner, including airing ads targeting Trump University. The program sold nearly 7,000 students on learning the billionaire's real estate secrets, but the school began winding down in 2010. More than 150 former students allege it was a fraud. Three lawsuits have been filed, one $40 million case in New York brought by the state's attorney general and two class action suits in California. Trump University began in 2004 with online courses...
  • Schneiderman: Trump University Fraud 'Pretty Straightforward'

    03/04/2016 12:06:12 PM PST · by Steelfish · 91 replies
    CNN ^ | March 04, 2016 | Chris Isidore
    Schneiderman: Trump University Fraud 'Pretty Straightforward' by Chris Isidore @CNNMoney March 4, 2016: New York Attorney General Eric Schneiderman said that evidence of the fraud perpetrated by Trump University is "pretty straightforward." "It [was] a bait and switch scheme," he said on CNN's New Day Friday, defending his and other lawsuits against the school. "He did ads saying my hand-picked instructors will teach you my personal secrets. You just copy what I did and get rich." But Schneiderman said evidence in the case makes clear that Trump was not involved in hiring instructors, and that he didn't create the program's...
  • Bernie Madoff and America's Selective Outrage

    02/11/2016 6:21:42 PM PST · by huckfillary · 5 replies
    Artful Dilettante ^ | February 11, 2016 | Artful Dilettante
    Like seven million other Americans last week, I watched Madoff, the ABC miniseries chronicling the life and financial crimes of the infamous Bernie Madoff. Madoff, chairman of Madoff Investment Securities from its start-up in 1960 until his arrest on December 11, 2008, operated the largest corporate Ponzi scheme and financial fraud in U.S. history. The film, which starred Richard Dreyfuss and Blythe Danner as Madoff and his wife Ruth, aired for four hours over two evenings. The film had the highest viewership of its time-slot, but earned only modest reviews. After the film, ABC aired Madoff: After the Fall, a...
  • Bernie Madoff 'Doing Fine' in Prison Despite Heart Issues, Few Visitors

    02/02/2016 11:48:05 AM PST · by nickcarraway · 21 replies
    ABC News ^ | Feb 2, 2016 | BRIAN ROSS RHONDA SCHWARTZ MEGAN CHRISTIE
    Despite an issue with his heart, 77-year old Bernard Madoff is “doing as well as can be expected” serving a 150 year sentence at a federal prison in North Carolina, according to Ira Sorkin, the lawyer who represented him when he pleaded guilty to the largest financial crime in American history. “I think he’s had a little bout, little bit of a heart problem,” Sorkin told ABC News. Most troubling to Madoff, according to Sorkin and several inmates who served time with him, is that his wife Ruth stopped visiting him years ago and none of his grandchildren have come...
  • Actor Richard Dreyfuss at Ted Cruz event: seeking the old GOP

    01/30/2016 5:24:48 PM PST · by GodGunsGuts · 79 replies
    Dallas Morning News ^ | January 30, 2016 | Todd J. Gillman
    AMES, Iowa -- Oscar-winning actor Richard Dreyfuss - star of Jaws and Mr. Holland's Opus - was on hand, somewhat inexplicably. He quietly nabbed a reserved front-row seat as Cruz made his own entrance...
  • Irwin Lipkin, Last Of Madoff Defendants, Gets 6 Months In Prison

    08/09/2015 5:53:45 PM PDT · by nickcarraway · 2 replies
    NPR ^ | AUGUST 06, 2015 | SCOTT NEUMAN
    The last defendant in the Bernard Madoff Ponzi scheme is going to jail three years after he pleaded guilty to helping conceal the massive fraud from regulators. Irwin Lipkin, 77, will spend six months in prison for his role in the scheme that defrauded investors of billions of dollars in investments. Lipkin is the last of 15 people convicted in the scam, in which Madoff promised, and appeared on paper to deliver, unrealistic returns on investments. "The roughly $17.5 billion in principal invested by retirees, charities and other clients over decades was mostly gone — paid out as fake profits...
  • The Biggest Ponzi Scheme in the History of the World "When She Blows It'll Be Krakatoa Redux"

    04/22/2015 2:11:51 PM PDT · by concernedcitizen76 · 73 replies
    April 22, 2015 | Self
  • Is Apple Cheating On The Dividends?

    03/20/2015 3:45:20 PM PDT · by Swordmaker · 2 replies
    Seeking Alpha ^ | Mar. 19, 2015 9:11 AM ET
    Summary Apple has been paying a dividend since Q3 2012. The current dividend has fallen a percentage of earnings. Calculations are made to estimate what the new dividend will be. . . . Summary While Apple's dividend has remained constant over the last four quarters, it value as a percent of earnings has fallen significantly. If Apple wants to keep the earlier ratios, then it will need to raise the dividends. My estimate is that Apple is likely to raise the per share dividend to between 62 and 65 cents per share from the current 47 cents. On the other...
  • Hardest thing to explain is the evidence everybody has decided not to see…

    09/04/2014 9:16:38 AM PDT · by westcoastwillieg · 56 replies
    9/2/14 | Joe Lynch
    'The hardest thing to explain is the glaring evidence which everybody has decided not to see,' this quote from Ayn Rand describes the lackluster reaction to the prez's forged docs—as does the novel 'Scammed' listed in Amazon's Kindle Store. When the miscreant behind the greatest Ponzi scheme in history, Bernie Madoff, was exposed his name was plastered on the front page of every newspaper in the country and heard on television ad nauseam. But nary a sound is heard from the MSM about the current occupant of the White House's faux documents.
  • Andrew H. Madoff, son of convicted financier, dies at 48

    09/03/2014 9:39:27 AM PDT · by Second Amendment First · 34 replies
    Washington Post ^ | September 3, 2014 | Emily Langer
    Andrew H. Madoff, who reported to authorities that his father and longtime Wall Street colleague, Bernard L. Madoff, had masterminded perhaps the largest Ponzi scheme in history, a multi-billion-dollar crime that Andrew described as a “father-son betrayal of biblical proportions,” died Sept. 3 at a hospital in New York City. He was 48. His lawyer, Martin Flumenbaum, told the Associated Press that the cause was mantle cell lymphoma. Mr. Madoff was diagnosed in 2003 with lymphoma and suffered a relapse a decade later. Mr. Madoff was the only surviving child of “Bernie” Madoff, a once-revered financier who is now serving...
  • A Major Jewish University Is In Danger Of Going Broke Because Of How Much It Lost In Hedge Funds

    06/18/2014 9:35:40 AM PDT · by SeekAndFind · 14 replies
    Business Insider ^ | 06/18/2014 | Julia La Roche
    Credit-ratings agency Moody's thinks Yeshiva, a private Jewish university located in New York City, will be broke by next year. Yeshiva lost an estimated $105 million losses with convicted Ponzi schemer Bernie Madoff, who was also a trustee, but that's not why the university is running out of money. According to an extensive two-year investigation by TakePart's Steven Weiss and The Jewish Channel, the administration blew the school's financial future on bad hedge fund investments over the last decade. At one point before the 2008 financial crisis, the university became allocated 65% in hedge funds, which was the third-highest of...
  • Madoff Customers to Receive More Than $350 Million in Fourth Payout (6 Bn Returned)

    05/05/2014 3:05:37 PM PDT · by Titus-Maximus · 7 replies
    The Wall Street Journal ^ | May 5, 2014 | Jacqueline Palank
    Madoff Customers to Receive More Than $350 Million in Fourth Payout By Jacqueline Palank Bernard Madoff’s cheated customers will receive $351.6 million soon, the fourth payout in the winddown of the Ponzi-scheme operator’s investment firm. Irving Picard, the court-appointed trustee liquidating Bernard L. Madoff Investment Securities LLC, on Monday began sending out checks to Mr. Madoff’s former customers, bringing the total amount of money returned to customers to nearly $6 billion. “Today’s distribution is another important step forward for our recovery efforts,” Mr. Picard said in a statement. “We are already looking ahead to additional,
  • Madoff said JPMorgan executives knew of his fraud: lawsuit

    02/20/2014 5:30:20 PM PST · by Red in Blue PA · 20 replies
    NEW YORK (Reuters) - Two senior officials at JPMorgan Chase & Co and predecessor companies repeatedly confronted Bernard Madoff over irregularities in his business, a new lawsuit said, suggesting that bank leaders had "direct knowledge" of his Ponzi scheme. The lawsuit filed in federal court in Manhattan on Wednesday on behalf of shareholders against Chief Executive Jamie Dimon and 12 other current and former executives and directors was based in part by statements made by Madoff himself during a series of interviews. "JPMorgan was uniquely positioned for 20 years to see Madoff's crimes and put a stop to them," the...
  • Bernie Madoff Recovering From Heart Attack, Battling Kidney Cancer As He Rots in Federal Prison

    01/22/2014 10:53:31 AM PST · by nickcarraway · 25 replies
    New York Daily News ^ | WEDNESDAY, JANUARY 22, 2014 | Corky Siemaszko
    The 75-year-old mastermind behind the epic Ponzi scheme has stage four kidney cancer, meaning it could have spread to the tissue and other parts of the body.Who knew Bernie Madoff had a heart? The convicted Ponzi prince who ripped off thousands of investors is reportedly recovering from a heart attack and battling kidney cancer, according to CNBC. The imprisoned fraudster spent much of December in the hospital, the business channel reported. Madoff is now back where he belongs — in his cell. CNBC described Madoff's kidney cancer as stage four, which could be very bad news for the epic swindler...
  • If We Don’t Like Our Criminal President, We Don’t Have To Keep Him–Period

    11/09/2013 11:17:33 AM PST · by IChing · 52 replies
    ClashDaily.com ^ | 11/9/13 | Donald Joy
    What’s it going to take? I just finished reading Andrew C. McCarthy’s excellent article appearing in today’s National Review Online, titled “Obama’s Massive Fraud.” McCarthy points out that Martha Stewart was sent to federal prison for doing essentially the same thing Obama has done on a vastly larger scale, with his fraudulent sales pitch of Obamacare–intentionally misrepresenting a situation, knowing that the lie would harm others financially. McCarthy also describes how CEOs of various firms are routinely dragged into court, sued and prosecuted, even jailed for decades, by Obama’s own administration, for frauds based on omissions of information that utterly...
  • Madoff Auditor’s Son Commits Suicide

    11/20/2012 5:34:07 AM PST · by tired&retired · 9 replies
    Accounting Today ^ | November 19, 2012 | MICHAEL COHN
    Jeremy Friehling, the 23-year-old son of Bernard Madoff’s former auditor, David Friehling, has died of an apparently self-inflicted gunshot wound. The younger Friehling was attending medical school at Ohio State University. Police found his body last Thursday inside his apartment in Columbus, Ohio, after his friends contacted them after some of his Facebook postings aroused concerns about his wellbeing. He was a valedictorian in his high school in New City, N.Y., and was active in sports, according to the Journal News. He graduated from Duke University. His father, David Friehling, was a partner in the New City, N.Y., accounting firm...
  • Madoff-invested charities contributed $365k to Media Matters

    03/02/2012 3:34:39 AM PST · by jmcenanly · 31+ views
    Daily Caller ^ | 11:45 PM 02/27/2012 | Vince Coglianese, Jamie Weinstein
    Media Matters for America accepted funding from at least three foundations whose money “grew” under the fraudulent stewardship of the now-incarcerated Bernard Madoff. One of those foundations was backed by a man many believe was in cahoots with the legendary financial criminal. Madoff’s Wall Street empire crumbled in late 2008 after federal authorities were tipped off to his multibillion-dollar Ponzi scheme. Among those institutions that saw their fortunes evaporate were foundations that had placed their trust and investments in Madoff’s surreal enterprise. Three of those philanthropies contributed money to Media Matters in 2008, at least one of which may have...