The owners of the New York Mets may already owe the trustee in the Bernard Madoff case up to $83.3 million -- and they could owe $300 million if they lose in a court case that begins this month.
In a win for the owners of the New York Mets, a federal judge on Tuesday upheld an earlier court decision that placed limits on the amount of money that the trustee in the Madoff case can seek.
Banks trying to stave off huge pay outs over the Bernard Madoff mess have scored a key win in court.
Former Goldman Sachs and Procter & Gamble director Rajat Gupta was indicted on insider trading charges Wednesday, U.S. prosecutors say.
Nearly three years after Bernard Madoff's Ponzi scheme unraveled, his victims are getting their first piece of the stolen funds.
The court-appointed trustee in the case of Ponzi schemer Bernard Madoff announced that a settlement for $1 billion has been reached with the Tremont Group feeder funds.
Winfred Jiau, a former expert-network consultant, was found guilty Monday of insider trading in another victory for federal prosecutors.
A jury convicted three more people in the insider trading case that centered on the Galleon Group hedge fund, according to the U.S. district attorney of the Southern District of New York on Monday.
In the nearly two years since the government began cracking down on insider trading, federal prosecutors have charged and convicted dozens of people in several overlapping cases.
The man who cooked the books for Bernard Madoff pleaded guilty Monday.
Raj Rajaratnam, the hedge fund boss accused of insider trading, was found guilty Wednesday by a jury in New York of conspiracy and securities fraud.
Some of the people who lost money in the Bernard Madoff Ponzi scheme, but had been shut out of any recovery of their funds, are a step closer to getting at least something back.
The trustee in charge of recovering money stolen by Bernard Madoff took steps Wednesday to begin payments to victims totaling $272 million.
The federal bankruptcy court judge presiding over the Bernard Madoff case has revealed the JPMorgan Chase employees who allegedly suspected they were doing business with a Ponzi schemer.
After Warren Buffett announced David Sokol's resignation on March 30, the Wall Street rumor mill got cranking at full speed. Some wags proposed that Sokol, the Berkshire Hathaway executive who bought some $10 million worth of Lubrizol shares in the months leading up to his company's acquisition of the chemicals giant (and made a $3 million profit in the process), might have committed insider trading or front-running.
Getting the money back from Bernard Madoff is only half the battle for Irving Picard, the trustee in charge of recovering assets stolen in the world's most notorious Ponzi scheme.
The trustee seeking repayment for victims of Bernard Madoff's multi-billion dollar Ponzi scheme has been subpoenaed by a House committee looking into the SEC's chief council, who inherited a Madoff investment from his late mother.
CNN's Maggie Lake examines the U.S. government's case against Galleon hedge fund founder Raj Rajaratnam.
Galleon Group founder Raj Rajaratnam used "stolen business information to steal tens of millions of dollars," a federal prosecutor said today in opening statements of what could be the largest insider trading trial in years.
The court-appointed trustee charged with recovering assets stolen by Ponzi schemer Bernard Madoff is ready to distribute $2.6 billion worth of recovered funds to the victims.
Victims of Bernard Madoff's Ponzi scheme are infuriated with his latest jailhouse interview, in which he blames his victims for being "greedy."
The court-appointed trustee in the Bernard Madoff case has sued the outgoing top lawyer at the Securities and Exchange Commission for allegedly profiting off the largest Ponzi scheme in history.
Bernard Madoff's Ponzi scheme left thousands of victims in its wake -- and lawyers and consultants are reaping millions in payments from the financial devastation.
The Securities and Exchange Commission charged three former senior-level executives of IndyMac Bancorp with securities fraud on Friday.
JPMorgan Chase accused the court-appointed trustee in the Bernard Madoff Ponzi case of overstepping his bounds with his $6 billion lawsuit against the financial services company.
Federal authorities announced charges Tuesday against four former hedge fund employees, part of an ongoing probe focused on consulting firms that allegedly leaked inside information about tech companies.
A clawback lawsuit filed on behalf of victims of Bernard Madoff against Mets owner Fred Wilpon and his business partners paints Wilpon not only as a major beneficiary of Madoff's fraudulent scheme, but also one who clearly "knew or should have known" about Madoff's fraud and who selfishly choose to profit from it.
The court-appointed trustee in the Bernard Madoff Ponzi case has accused the owners of the New York Mets baseball team of reaping $300 million in profit from the scheme, according to documents unsealed Friday.
JPMorgan Chase executives suspected that Bernard Madoff's investment strategy was actually a Ponzi scheme years prior to its collapse, but did nothing to stop it, according to the court-appointed trustee trying to recove assets stolen by Madoff.
$10 billion down ... $10 billion more to go.
Madoff victims might finally get their hands on their stolen billions.
It's a landmark day for victims of Bernard Madoff's Ponzi scheme. A bankruptcy court judge approved the trustee's request to dole out billions of dollars in seized assets to the victims.
The effort to recover money for victims of Bernard Madoff took a dramatic turn Friday when officials said the widow of one of the Ponzi scheme's biggest beneficiaries had agreed to turn over $7.2 billion.
The feds on Wednesday escalated their unfolding insider-trading crackdown by arresting an employee of an "expert-networking" firm who allegedly conspired to leak information to hedge funds.
The government unveiled two high-profile cases of financial fraud Thursday as federal regulators look to crack down on Wall Street shenanigans.
If I ask you who the worst hedge fund fraudster is in the world, there's only one name that will spring to mind. The guy who allegedly looted billions of dollars from unwitting victims. The guy who had been accused of fraud for years, though the government failed to properly investigate for years. The guy who is now seemingly showing no remorse while protesting the conditions in prison. The guy who left many of his victims broke and has been beaten while incarcerated.
Peter Madoff, brother of Bernard Madoff and chief compliance officer of Bernard L. Madoff Investment Securities, is the subject of a criminal investigation, the U.S. attorney's office in New York confirmed Thursday.
A key investor with convicted swindler Bernie Madoff drowned in his swimming pool Sunday afternoon, police said.
CNN.com Business Editor Kevin Voigt discusses the basics of financial fraud.
When Sam Antar was cooking the books for his company, he used a number of complicated accounting tricks to dupe auditors. But some tactics were simple.
The court-appointed trustee in the Bernard Madoff case plans to sue four more of his family members for nearly $200 million this week, according to a broadcast report.
The Securities and Exchange Commission on Monday charged a brokerage firm and several individuals with raising money from investors to feed Bernard Madoff's Ponzi scheme.
Billionaire financier Robert Allen Stanford has been indicted on charges of criminal conspiracy to commit mail, wire and securities fraud, actions that earned his company an estimated $7 billion dollars, prosecutors said Friday.
Billionaire financier Robert Allen Stanford has been indicted on charges of criminal conspiracy to commit mail, wire and securities fraud, actions that earned his company an estimated $7 billion, prosecutors said Friday.
Allen Stanford, the man behind cricket's multi-million dollar riches, is charged with fraud. CNN's Justin Armsden reports.
Texas billionaire Allen Stanford was taken into custody Thursday night on a fraud-related charge in Stafford, Virginia, the FBI said.
In a new bankruptcy court filing, some investors swindled by convicted Ponzi schemer Bernard Madoff seek to reframe calculations that will determine how much money they can collect from a pool of recovered funds.
The employees were transfixed. Standing on the mid-Manhattan trading floor of Bernard L. Madoff Investment Securities in late 2007, a half-dozen staffers stared up at the ceiling-mounted TV as CNBC aired a report on the mysterious Palm Beach death of a hedge fund manager who had been leading a double life. The police, it appeared, were even considering the possibility that he had been murdered. "Bernie," someone casually asked as Madoff happened to walk by, "have you heard of this guy?"
Allen Stanford, the Texan billionaire accused of a $9.2 billion fraud by U.S. regulators has denied any wrongdoing in a tearful interview in which he threatened to punch his questioner in the mouth.
The Commonwealth of Massachusetts' securities division on Wednesday charged investment firm Fairfield Greenwich with fraudulently representing its dealings with convicted Ponzi mastermind Bernard Madoff.
The financial assets of Peter Madoff -- brother of convicted Ponzi schemer Bernard Madoff -- have been frozen until an April 3 court hearing by Nassau Supreme Court Justice Stephen Bucaria, according to an order the judge filed on Wednesday.
David Friehling, accountant for Bernard Madoff, was released on $2.5 million bond after turning himself in Wednesday to face charges that he "rubber stamped" the Ponzi schemer's books.
Bernard Madoff, who pleaded guilty to operating a multibillion-dollar Ponzi scheme, is worth up to $826 million, according to a document filed with a federal court on Friday.
Richard Friedman lost more than $3 million to Bernard Madoff's investment scheme. Following the disgraced broker's guilty plea Thursday, Friedman said he hopes Madoff lives a long time.
Richard Friedman, who lost $3.1 million to Bernard Madoff, says there is "no way" Madoff acted alone.
Bernard Madoff, who stole billions from investment clients, was ordered jailed Thursday after pleading guilty to all 11 criminal counts in one of Wall Street's biggest swindles ever.
CNN's Allan Chernoff reports Bernie Madoff, who is charged with investment fraud, will plead guilty to 11 counts.
Accused investment swindler Bernard L. Madoff will plead guilty later this week to 11 counts that could bring a sentence of 150 years in prison, one of his attorneys told CNN.
Alleged swindler Bernard Madoff will plead guilty later this week to 11 counts, including money laundering, perjury and fraud, that could bring a sentence of 150 years in prison, one of Madoff's attorneys, Ira Lee Sorkin, told CNN.
A federal judge has unfrozen the assets of about 12,000 people and groups who invested in companies of R. Allen Stanford, who is accused in a $9.2 billion fraud scheme.
The life of Sir Allen Stanford, the cricket and polo-loving financier who is being investigated for a potential Ponzi scheme, is a case study in how to buy respectability and influence.
The chief investment officer of the firm headed by financier Alan Stanford, who is accused in an alleged $8 billion fraud scheme, was arrested and charged Thursday in Houston, Texas.
If you think you dodged the Madoff bullet, can you really be sure? Say, for instance, you briefly invested five years ago in a fund, and that fund in turn invested in a fund-of-funds that invested in a feeder fund that invested with Madoff. Could the Madoff trustee knock on your door and demand that you return any profits?
Investors allegedly swindled in the largest Ponzi scheme in history reacted furiously when they learned Friday that Bernard Madoff didn't put any of their money into securities for at least 13 years.
Federal prosecutors and the defense for alleged fraud mastermind Bernard Madoff have agreed to push back the deadline for an indictment or probable cause hearing for the former investor, sources close to the case said Wednesday.
Harry Markopolos, the fraud investigator whose efforts to blow the whistle on investment adviser Bernard Madoff were rebuffed by the Securities and Exchange Commission, Thursday presented the SEC's inspector general with evidence of two new cases of potential investment fraud.
As the Bernard Madoff scandal continues to play out, it is becoming increasingly clear how devastating the alleged fraud has been for the banking industry.
A whistleblower who repeatedly warned the Securities and Exchange Commission that Bernard Madoff was perpetrating a massive investment fraud testified Wednesday that the regulatory agency that oversees financial markets is inept, "financially illiterate" and far too cozy with the financial titans it is supposed to be regulating.
The Securities and Exchange Commission's director of enforcement told a Senate committee Tuesday that the agency lacks the resources to pursue all the leads and tips about possible fraud that come to it.
As Bernard Madoff was telling his investors they were earning double-digit annual gains, it appears he wasn't even investing their money, according to a CNN investigation of his reported trades.
A judge rejected an appeal by prosecutors Wednesday in the government's continuing legal quest to put accused white-collar schemer Bernard Madoff behind bars.
Federal prosecutors are appealing a court's ruling that allows alleged fraud mastermind Bernard Madoff to remain under house arrest on $10 million bail.
Nice work if you can get it: Hanging out at the Palm Beach Country Club and introducing friends to an exclusive and seemingly safe place to stash your cash - Bernard L. Madoff Investment Securities.
An alleged victim says Bernard Madoff is "repulsive" and "loathsome." CNN's Christine Romans reports.
A judge ruled Monday that Bernard Madoff would not be sent to jail pending trial, declining a request by prosecutors to revoke the bail of the financier accused in a $50 billion fraud case.
Lawmakers took a hard look Monday at the alleged $50 billion investment scam engineered by Bernard Madoff that has sent shock waves across the nation's already fragile financial system.
The Bernard Madoff scandal will certainly end up as the most expensive Ponzi scheme in U.S. history, but the $50 billion price tag claimed by the disgraced financier may end up as fictitious as the returns that he had promised investors.
A $10,000 statue stolen from the estate of disgraced financier Bernard Madoff has been found. WPEC's Ashley Glass reports.
The Austrian government has taken control of a private bank with significant exposure to the alleged fraud by Bernard Madoff.
It is not easy to stay on the sidelines while others are busy getting rich. Wall Street, moreover, is constitutionally predisposed to overdo things. The stereotype imagines a Wall Street populated by bulls and bears. In reality, the Street itself is neither bull nor bear but shark, constantly shifting direction in an eternal search for food. This feeding process involves massive shifts of capital, which inevitably, is sometimes misallocated. - J. Ezra Merkin, writing in an introduction to a chapter in the 75th anniversary version of Graham and Dodd's Security Analysis.
Like the conclusion that Lee Harvey Oswald was a lone gunman, the theory that Bernard Madoff acted alone is hard to swallow.
Victims of Bernard Madoff's alleged Ponzi scheme sued three big names over their role in the estimated $50 billion fraud: a high-profile investment firm, its managing partner and its auditor.
The list of charities devastated by Bernard Madoff's alleged fraud keeps growing, but one philanthropic organization with strong ties to the Madoff family has so far emerged unscathed.
The Supreme Court dealt a blow Tuesday to Enron investors who sued major investment banks to recover money lost when the Texas energy giant collapsed
The former CEO of Enron Corp.'s broadband division reported to a Louisiana prison on Tuesday to serve 27 months for securities fraud related to his role in the company's 2001 collapse, his lawyer said.
Class-action lawsuits filed over securities fraud reached an all-time low in 2006, according to a Stanford Law School report.
Apple Computer disclosed in a regulatory filing Friday that Chief Executive Officer Steve Jobs was aware that some stock options granted to him and other executives at Apple between 1997 and 2002 were backdated and that the company was restating financial results for the past few years as a result of the backdating.
More criminal indictments will come down the pike as corporate America struggles with the ever-growing stock options backdating scandal, according to an assistant director at the FBI.
As corporate scandals continue to mount on Wall Street, Berkshire Hathaway Chairman Warren Buffett has a message for the company's top managers: Don't give in to peer pressure.
The widespread options backdating scandal is gaining new momentum after the Department of Justice charged executives from Comverse Technology with securities fraud for profiting from manipulated stock options.
The light at the end of the tunnel continues to be elusive for Enron founder Kenneth Lay who could find himself spending life in prison even if he is acquitted by a jury for allegations that he helped bring about Enron's collapse.
Former WorldCom accountant Betty Vinson was sentenced Friday morning to five months in prison and five months house arrest for her part in WorldCom's $11 billion accounting fraud.
Bernard Ebbers, the once-celebrated WorldCom chief who faces life behind bars, is baffled by his current predicament.
In a major victory in the government crackdown on corporate corruption, former Tyco CEO Dennis Kozlowski and ex-CFO Mark Swartz were found guilty Friday of stealing hundreds of millions of dollars from the manufacturing conglomerate.
Bernard Ebbers, the former CEO of WorldCom, was found guilty Tuesday for his role in the huge accounting scandal that led to the largest bankruptcy in U.S. history.
The better stocks perform, the fewer disgruntled investors there are suing companies over falling stock prices, right?
Ex-WorldCom CEO Bernard Ebbers was charged with securities fraud Tuesday for his role in the nation's biggest accounting scandal, while his former chief financial officer pleaded guilty and agreed to cooperate with prosecutors.
Ex-Enron CEO Jeffrey Skilling was charged with fraud and insider trading Thursday, making him the highest ranking former executive charged in the collapse of the once-mighty energy company.
In a huge office with a marble-topped bar and a perfect view of San Diego Harbor, paunchy, red-faced, Brillo-topped Bill Lerach--wearing a pitted-out green shirt, khaki slacks, white socks, and Top...
Someplace right now, in the layers of a FORTUNE 500 company, An employee--probably high up and probably helped by people who work for him--is perpetrating an accounting fraud. Down the road that cr...
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