Former media mogul Conrad Black — who was recently released on bond from his six-plus year prison sentence for stealing millions of dollars from his businesses — has penned a column for Toronto's National Post. Hint: prison is unfair!
The Supreme Court "limited the use of the 'honest services' fraud law" in a decision today, granting an appeals victory to former Enron executive Jeffrey Skilling. Good, because we have way too many white collar criminal prosecutions these days...??
Asha Rajaratnam, the wife of accused insider-trading mastermind Raj Rajaratnam, is prepared to defend her man. And she isn't afraid to get physical, as she demonstrated earlier today when the couple left Town on West 56th Street and found themselves swarmed by photographers. [via DB]
Ponzi schemer Bernie Madoff is living large at Butner Federal Correctional Complex, where he's cozying up with mob bosses and walking "with his head high," the popular girl at the jailbird ball.
When someone sees another person break the rules and get away with it, does that inspire them to commit wrongdoing themselves? When people like Allen Stanford or Bernie Madoff are arrested, does that encourage people to play nice? These were the sorts of questions that a group of researchers at the University of…
So you stop off at your money manager's office atop some gleaming Midtown office building and you find him in a vast office filled with priceless art work, sitting behind an antique desk dressed in a $10,000 custom-made suit, and fingering photos of a new beachfront estate in East Hampton he's had his eye on. Should…
Arthur Nadel, the Florida-based money manager accused of defrauding clients to the tune of $300 million and then suggesting he'd committed suicide when he was first indicted, is now in custody. Nadel surrendered to the FBI today in Tampa. Yea, sure, we were hoping for a more exciting conclusion to this story, too, but…
How many financial fraudsters are on the run, or at least appear to be? At least two as of this afternoon! There's Marcus Schrenker, the financial adviser accused of defrauding investors through three of his companies, who tried to fake his death over the weekend by bailing out of his plane (which crashed in a…
It looks like Robert "Bob" Jaffe, the Palm Beach social fixture and Bernard Madoff middleman now under investigation by the FBI, could use a couple of bucks. Palm Beach Post gossip columnist Jose Lambiet reports that Jaffe recently turned up at a consignment shop in town with some of his jackets. "We're selling Mr.…
Bernie Madoff is facing a long stretch in prison for bilking investors out of $50 billion, and plenty of theories have been batted around as to what might have motivated Madoff to carry out his devious scheme. Was it just about the money? Did he feel any sense of shame as he ripped off hundreds of investors and…
Bernie Madoff has been sequestered in his apartment since his bail conditions were modified on Friday, but that's hardly put a damper on the media frenzy. Over the weekend, the Post was kind enough to tally the funds lost by members of the Fifth Avenue Synagogue (or the "Temple of Doom," as the Post describes it), a…
Bernie Madoff won't be seeing much sunlight for the forseeable future. A judge modified Madoff's bail conditions late this afternoon and ruled that unless he has to make an appearance in court, he'll be subject to round-the-clock home detention in his Manhattan apartment. He'll also required to pay out-of-pocket to…
You know this Madoff thing is out of control when you have socialites huddled outside Bernie's apartment waiting for him to make an appearance. Peter Davis (Tinsley Mortimer's honest-to-God half-brother in law!) reports that he's "obsessed" with the case—"It's all I can read or think about"—and says he turned up at…
As if it wasn't bad enough that Bernie Madoff is accused of carrying out the biggest financial fraud in the history of the world, there's evidence that he may have cheated at golf, too. "They say you can tell a lot about a businessman from his golf game," explains Catherine Rampell on the Times' Economix blog.…
Bernie Madoff ripped off dozens of wealthy investors, hedge funds, schools, and non-profit institutions over the years (and his elaborate scheme has also helped sap what little confidence remains in the financial markets at large). But there's some positive news for his victims, people like Mets owner Fred Wilpon and…
Mark Cuban, the loud-mouthed tech entrepreneur, short-lived reality TV star, owner of the Dallas Mavericks, and occasional blogger, has been charged with insider trading by the SEC. [WSJ, NYP, Dealbreaker]
Sometimes there's the chance for a comeback following a spectacular fall from grace. That doesn't look like a likely scenario for Adam Hochfelder. The erstwhile property mogul, who once controlled as much as 8 million square feet of property as part of his company Max Capital, counted billionaires Richard Kalikow…
