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Madoff pled guilty in 2009 to 11 felonies, and admitted he used his wealth management business to create a massive Ponzi scheme which enriched himself, his family and others. Madoff was sentenced ...
The fund disbursing money to the victims of Bernie Madoff’s legendary Ponzi scheme began its 10th and final distribution on Monday, putting another $131 million in the pockets of swindled investors.
A U.S. government fund to compensate people swindled by Bernard Madoff announced its tenth and final distribution on Monday, saying it will have paid out $4.3 billion to 40,930 of the late Ponzi ...
Peter Madoff sometimes signed many weeks of compliance reports in one sitting, intentionally changing pens and ink colors to make it appear he had signed them at various times, according to prosecutors. [46] Peter Madoff admitted to hiding millions of dollars from the IRS to avoid taxes, and took $200,000 from the firm for charitable donations ...
Ruth Madoff's combined assets with her husband had a net worth of between $823 million and $826 million.She had $92.6 million in assets listed in her own name: [9] the $7 million penthouse on Manhattan's Upper East Side; an $11 million mansion in Palm Beach, Florida; a three-bedroom apartment in Cap d'Antibes on the French Riviera valued at $1.5 million; $45 million in municipal bonds and $17 ...
More than $14.6 billion has been recovered for Madoff's victims so far by Irving Picard, the court-appointed trustee overseeing the liquidation of Madoff's firm, and Bernie Madoff is long gone ...
Several family members worked for Madoff. His younger brother, Peter, [70] an attorney, was senior managing director and chief compliance officer, and Peter's daughter, Shana Madoff, also an attorney, was the firm's compliance attorney. Over the years, Madoff's sons had borrowed money from their parents, to purchase homes and other property.
Bernard Madoff's victims will soon receive another $372 million to help cover their losses, nearly 14 years after the swindler's capture for running a massive Ponzi scheme, the U.S. Department of ...