Investors in Bernard Madoff's epic fraud cannot hold the Securities and Exchange Commission responsible for failing to expose his decades-long Ponzi scheme, despite its "regrettable inaction," a federal appeals court said Wednesday.
Federal prosecutors say one of Wall Street swindler Bernard Madoff's former controllers will plead guilty in New York to conspiracy charges in history's largest Ponzi scheme.
Attorney General Eric Schneiderman said Sunday that the clients will be paid over three years and New York state will get $5 million to cover the cost of the settlement.
A federal prosecutor says a former employee of Wall Street swindler Bernard Madoff will plead guilty in New York to charges including conspiracy to commit securities fraud in connection with Madoff's epic Ponzi scheme and will cooperate with the government.
A New York City judge has rejected a $19 billion claim a trustee recovering money for Wall Street swindler Bernard Madoff's investors demanded from JPMorgan Chase, a bank used by the disgraced financier. The ruling also eliminates most of a $2 billion claim against UBS AG.
Disgraced financier Bernie Madoff has told Barbara Walters he has terrible remorse and horrible nightmares over his epic fraud, but also said he feels happier in prison than he's felt in 20 years.
The court-appointed New York-based trustee trying to recover losses for victims of Bernard Madoff has accused HSBC of fueling the disgraced financier's massive fraud.
The trustee working to recover money for victims fleeced by Bernard Madoff says he has filed 40 lawsuits in Manhattan federal court against former employees of the disgraced financier's company and his relatives.
A New York judge has set bail at $5 million for a former Bernard Madoff employee accused of helping conceal the disgraced financier's massive Ponzi scheme.