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Latest Madoff Stories

2011-11-30 14:35:00

NEW YORK, Nov. 30, 2011 /PRNewswire/ -- FrederickJames.com, a website that sells eco-friendly customized iPad covers, has released its second and final limited edition Bernie Madoff Collection that is now on sale. The 59 iPad covers have been re-fashioned from the convicted felon's pants, sweaters and sweatshirts bought at the Madoff U.S. Marshalls auction. When Frederick James released the first Bernie Madoff Collection this spring, it was an instant hit with both media and consumers. The...

2011-08-12 00:00:03

Frederickjames.com, a website that sells eco-friendly customized iPad covers, has created a limited edition Bernard Madoff Collection made from his pants bought at the U.S. Marshals auction. Chappaqua, NY (PRWEB) August 10, 2011 Frederickjames.com, a website that sells eco-friendly customized iPad covers, has created a limited edition Bernard Madoff Collection that is now on sale. The 31 iPad covers have been re-fashioned from the convicted felon's pants bought at the Madoff U.S. Marshals...

2010-11-05 14:00:00

Documentary Helps Viewers Avoid Becoming Victims PITTSBURGH, Pa., Nov. 5, 2010 /PRNewswire-USNewswire/ -- Bernie Madoff. Everyone knows his name. He conned investors out of billions of dollars. But how did he do it? How did this man get otherwise intelligent, rational and sometimes wealthy people to turn over their life savings? Amazingly, con criminals and "fraudsters" like Madoff are able to trick people into buying phantom investments that are nothing more than Ponzi schemes....

2009-11-13 11:43:00

NEW YORK, Nov. 13 /PRNewswire-USNewswire/ -- Preet Bharara, the U.S. Attorney for the Southern District of New York, Joseph M. Demarest, Jr., the Assistant Director-in-Charge of the New York Field Office of the FBI, Alan D. Lebowitz, the Deputy Assistant Secretary of the United States Department of Labor, Employee Benefits Security Administration (DOL-EBSA), and Patricia J. Haynes, the Special Agent-in-Charge of the New York Field Office of the Internal Revenue Service (IRS), announced that...

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2009-09-30 12:34:25

U.S. Securities and Exchange Commission investigator H. David Kotz has recommended 58 steps to tighten enforcement in the wake of the Bernard Madoff scandal. For thousands of investors, Ponzi scheme operator Bernard Madoff represents a $65 billion crime, not a scandal. At the SEC, however, Madoff, now serving a 150-year prison sentence, represents both after Kotz's internal investigation revealed six substantial warnings given SEC officials that resulted in missed opportunities to stop the...

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2009-09-17 18:36:46

Convicted swindler Bernard Madoff's beach house on New York's Long Island sold for more than the $8.75 million asking price, the listing broker said Thursday. The 3,000-square-foot shingled home -- with 182 feet of ocean frontage, four bedrooms, three baths, a double-height great room with a two-story stone fireplace, a deck and a pool -- was put on the market two weeks ago by the U.S. Marshals Service as part of plan to repay victims of the $65 billion Ponzi scheme, the largest investor...

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2009-09-09 09:35:00

Federal authorities are selling New York and Florida properties belonging to convicted Ponzi scheme operator Bernard Madoff to compensate his fraud victims. Real estate appraisers said Madoff's properties were surprisingly modest considering the size of his investment fraud. Madoff pleaded guilty in March to running a Ponzi scheme that some estimate defrauded investors of $65 billion. While Madoff is in jail serving a 150-year sentence, officials are preparing to sell his beachfront property...

2009-09-02 16:22:28

The U.S. Securities and Exchange Commission failed to follow up on significant warnings concerning Ponzi scheme operator Bernard Madoff, a case audit said. SEC Inspector General David Kotz's report, released Wednesday, said there were no personal tie-ins between Madoff and SEC personal that prompted the SEC to fail in following up on numerous warnings, some of which were available 16 years prior to Madoff's arrest and confession last December. The (Office of Inspector General) did not find...

2009-08-21 11:17:59

U.S. insurance giant American International Group says it paid victims of Bernard Madoff's Ponzi scheme millions of dollars for losses covered by its policies. AIG said it denied claims from Madoff victims who had withdrawn more money from their Madoff account than they had invested. Nevertheless, the company said it had honored hundreds of claims under homeowner policies that protected them against fraud, embezzlement or forgery, the New York Post reported Friday. Madoff pleaded guilty to...

2009-07-17 20:19:56

The man who audited Bernard Madoff's books entered a not guilty plea Friday in New York, while waiving his right to a grand jury. David Friehling and his lawyers are trying to negotiate a plea bargain with federal prosecutors, the New York Daily News reported. Friehling, now free on $2.5 million bond, could receive a 105-year prison term if convicted of all charges. U.S. District Judge Alvin Hellerstein scheduled a hearing date for Oct. 1. Friehling, who was Madoff's accountant for 17 years,...