sec.gov - 12/11/2008
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The Securities and Exchange Commission today charged Bernard L. Madoff and his investment firm, Bernard L. Madoff Investment Securities LLC, with securities fraud for a multi-billion dollar Ponzi scheme that he perpetrated on advisory clients of his firm. The SEC is seeking emergency relief for ...
clusterstock.alleyinsider.com - 12/13/2008
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clusterstock.alleyinsider.com —
Wall Street executive Bernard Madoff was recently arrested
after admitting to his sons and later, to the...
FBI, that he was running a gigantic Ponzi scheme -- to the tune of $50 billion. He is now being sued by a number of investors. Since he ...
(more)
Bernard Madoff running a gigantic Ponzi scheme
online.wsj.com - 12/11/2008
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online.wsj.com —
Bernard L. Madoff, a former chairman of the
Nasdaq Stock Market and a force in Wall Street...
trading for nearly 50 years, was arrested by federal agents Thursday a day after telling two senior employees that his investment advisory business was "a ...
(more)
Top Broker Accused of Fraud
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Record Ponzi Scam: $50 Billion
Alea —
SEC Charges Bernard L. Madoff for Multi-Billion Dollar Ponzi Scheme
The Securities and Exchange Commission today charged Bernard L. Madoff and his investment firm, Bernard L. Madoff Investment Securities LLC, with securities fraud for a multi-billion dollar Ponzi scheme that he perpetrated on advisory clients of his firm. The SEC is seeking emergency relief for investors, including an asset freeze and the appointment of a receiver for the firm.
The SEC’s complaint, filed in federal court in Manhattan, alleges ...
Madoff Story is Staggering
Paul Kedrosky's Infectious Greed —
... Eaton in Manhattan federal court. Charged in a criminal complaint with a single count of securities fraud, he was granted release on a $10 million bond guaranteed by his wife and secured by his apartment. Madoff’s wife was present in the courtroom. “It’s all just one big lie,” Madoff told his employees on Dec. 10, according to a statement by prosecutors. The firm, Madoff allegedly said, is “basically, a giant Ponzi scheme.” More here and here.
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$50 Billion Ponzi?
Calculated Risk —
A couple of stories to discuss ... SEC Charges Bernard L. Madoff for Multi-Billion Dollar Ponzi Scheme According to regulatory filings, the Madoff firm had more than $17 billion in assets under management as of the beginning of 2008. It appears that virtually all assets of the advisory business are missing. And from the WSJ: GM Retains Bankruptcy Counsel; Tentative Pact Reached on Bailout General Motors Corp. has hired lawyers and bankers to consider whether to file for bankruptcy protection, said several people familiar with ...
Further reading
FT Alphaville —
... charges Bernard L. Madoff for multi-billion dollar Ponzi scheme. - The big three automakers will face an immediate cash crisis writes ...
$50B? Congratulations!
Phil’s Stock World —
... SEC Charges Madoff for Multi-Billion Dollar Ponzi Scheme
US Securities and Exchange Commission press release
Dec. 11 2008 ...
More on Madoff
Phil’s Stock World —
... Prosecutors are joining regulators at the Securities and Exchange Commission, which filed a civil lawsuit, in scrambling to unravel the collapse of Bernard L. Madoff Investment Securities LLC. The broker-dealer and investment adviser was housed in a lipstick-shaped ...
Hedge Funds Reel as Huge Fraud Is Alleged
DealBook —
... The firm said it is checking with lawyers about the holdings. Andrew Ludwig, a spokesman for Fairfield Greenwich, declined to comment on the situation on Friday. He directed Dealbook to a statement on the firm’s Web site , which said:“Needless to say, this is a shocking development and we are working with counsel to assess the situation and take all steps necessary and appropriate to protect our investors and the firm.” – Cyrus Sanati Go to Article from Bloomberg News » Go to News Release from the Securities and Exchange Commission » Go to Previous Item from ...
Bernard Madoff Case & Hedge Fund Fraud
HedgeFundBlogger.com by Richard Wilson —
... The SEC acknowledges the assistance of the U.S. Attorney's Office for the Southern District of New York. source ...
International Forecaster December 2008 (#5) - Gold, Silver, Economy + More
GoldSeek.com —
... Federal investigators working through the weekend to unravel Bernard Madoffs alleged $50 billion Ponzi scheme found evidence he ran an unregistered money-management business alongside his firms brokerage and investment-advisory subsidiaries, two people with knowledge of the inquiry said. Clients of the undisclosed unit may have included hedge funds, according to the people, who declined to be identified or to name the funds because the probe isnt public. Investigators from the U.S. Securities and Exchange Commission are looking for signs that others participated in the ...
Related: bernard l. madoff investment securities, 5 billion dollars ponzi
Bernie Madoff swimming swindling naked
nakedshorts.typepad.com 12/11/2008 — More than a few sleepless nights ahead for more than a few people methinks:
Bernard L. Madoff, the founder of Bernard L. Madoff Investment Securities and a fixture of the Wall Street trading world for decades, was arrested Thursday morning by Federal Bureau of Investigation agents and ...
More Madoff Victims
dealbreaker.com 12/12/2008 — In this case, his staff, who one assumes will soon be out of work. Will the matter of one time employment at Bernard L. Madoff Investment Securities LLC be the professional equivalent of pulling a Merrill e.g. would it make you categorically unemployable (except at future Brian Hunter Hedge ...
New York Mets Owner’s Firm Was Madoff Client
dealbook.blogs.nytimes.com 12/12/2008 — Sterling Equities, the investment firm led by Fred Wilpon that owns the New York Mets baseball team, said Friday that it had accounts at Bernard L. Madoff Investment Securities and was “shocked” by his fraud confession.
“Among our ...
The 10 Nastiest Ponzi Schemes Ever
businesspundit.com 12/16/2008 — Bernard Madoff pulled a shocker last week by revealing that his exclusive investment securities firm was actually the biggest Ponzi scheme in the history of mankind. As the impact of Madoff’s decades-long crime reverbrates around the world, it ...
Madoff’s Options Strategy Debunked
traderdaily.com 12/16/2008 —
A federal judge ordered the U.S. operations of Bernard L. Madoff Investment Securities LLC to be liquidated, as fresh details emerged of trading discrepancies that offer clues as to how the New York broker may have run the epic scam alleged by ...
That Didn't Take Long —
Dealbreaker
Did you invest in securities directly through Bernard L. Madoff Investment Securities, LLC?
Have you or your company invested in a Hedge Fund that failed to perform its due diligence before investing with Bernard L. Madoff Investment Securities, LLC?
If you answered "Yes" to either of ...
SIPC Expects a Hard Time With Madoff Claims —
naked capitalism
The Madoff revelations continue apace. The latest tidbit is that the records are such a mess that it may take the Securities Investors' Protection Corporation six months (!) to make meaningful headway in unravelling Madoff books and records. From the Financial Times : Bernard Madoff left ...
S.I.P.C. Chief Calls Madoff’s Records ‘Utterly Unreliable’ —
DealBook
A day after the Securities Investor Protection Corporation moved to liquidate Bernard L. Madoff’s investment firm in an effort to recover cash and securities for its clients, S.I.P.C.’s president, Stephen Harbeck, said Tuesday that the firm’s financial records were “utterly ...
Madoff Merchandise: Now With Double Meaning —
Dealbreaker
Hey you non-Madoff investors! Are you feeling a little left out of the fun? 'Cause maybe you put your money with Tosca or Citadel and are losing it the old fashioned way? Now you can get fleeced by Madoff too!
Bernard Madoff Investment Securities Fleece [eBay]
Ummm...don’t get to excited over SIPC —
NakedShorts
SIPC — the Securities Investor Protection Corp — stepped into the Madoff mire late yesterday, when a federal judge named a trustee to liquidate Bernard L. Madoff Investment Securities LLC. That short straw goes to Irving H. Picard, said to have conducted more US brokerage liquidations than any ...
S.I.P.C. Moves to Liquidate Madoff’s Firm —
DealBook
The Securities Investor Protection Corporation announced Monday that it would be liquidating the investment firm run by Bernard L. Madoff, the trader accused of running a $50 billion Ponzi scheme, in an effort to return cash and securities to the firm’s clients.
S.I.P.C., a nonprofit group ...
$50B Ponzi Isn’t Biggest, or Last… —
GoldSeek.com
The $50 billion Ponzi scheme that rocked the investment world last week makes swindlers from the good old days look like pikers. Even after adjusting for inflation, the $220 million that Robert Vesco supposedly stole would amount to only a billion dollars. Bernie Cornfeld? Tito D’Angelis? ...
Weekend Dealbreaker: The Owner's Name is on the Door —
Dealbreaker
In an era of faceless organizations owned by other equally faceless organizations, Bernard L. Madoff Investment Securities LLC harks back to an earlier era in the financial world: The owner's name is on the door. Clients know that Bernard Madoff has a personal interest in maintaining the ...
Madoff: trader accused of fraud —
Short-Term Trading
"...the Madoff firm, which at one point was the largest market maker on the electronic Nasdaq market, regularly operating as both a buyer and seller of a host of widely traded securities. The firm employed hundreds of traders"."Bernard L. Madoff Investment Securities, the firm he founded in ...
Take That, Mark Dreier —
Emini Addict
Trader Daily � Take That, Mark Dreier Bernard Madoff, the 70 year-old founder of Bernard L. Madoff Investment Securities and former Nasdaq stock market chairman, was arrested yesterday and charged with running a "massive Ponzi scheme" that lost at least $50 billion. Morning Call: December 12 ...
Mission Statement —
The Epicurean Dealmaker
In an era of faceless organizations owned by other equally faceless organizations, Bernard L. Madoff Investment Securities LLC harks back to an earlier era in the financial world: The owner's name is on the door. Clients know that Bernard Madoff has a personal interest in maintaining the ...
Madoff Charged With Fraud —
WSJ.com: What's News US
Bernard L. Madoff, the founder of Bernard L. Madoff Investment Securities and a fixture of the Wall Street trading world for decades, was arrested by the FBI and charged with criminal securities fraud.
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