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Tag Archives: Bernard Madoff

U.S. wants cash, not confession

So routinely do people and firms resolve SEC cases “without admitting or denying” wrongdoing, as the agency’s boilerplate phrase goes, that even the guiltiest of fraudsters who confess in criminal court to the most audacious of crimes never come clean with the SEC, which has its own, civil cases to resolve.

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Madoff investors, banks settle over $15.5 billion

Banks agreed to pay about $15.5 billion to settle claims by about 720,000 investors outside the U.S. who lost money in Bernard Madoff’s fraud, according to a group of law firms that represent victims. About 80 percent of the clients ...

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Madoff liquidator Picard wins $22 million in fees

Irving Picard, the liquidator of the remains of Bernard Madoff’s defunct investment firm, won court approval to collect $22 million in fees for five months of work by him and his law firm. The fees, which cover work by Picard ...

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Madoff victim demands evidence of trustee’s claims decision

Lawrence Velvel, a Bernard Madoff victim who is dean of the Massachusetts School of Law, urged a judge to investigate why the liquidator for the con man’s firm chose to ignore fake profit from the fraud when calculating customers’ claims ...

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