A lawyer representing more than 70 former clients of Bernie Madoff wants to force the Ponzi schemer into bankruptcy. Meanwhile, federal marshals have seized his $9 million Palm Beach home and a $2 million yacht.
After pleading guilty to his $50 billion fraud, Ponzi schemer Bernie Madoff is headed for jail. Which jail? Probably the federal prison in Otisville, N.Y., where he'll have the chance to meet new friends!
A trustee overseeing the dissolution of Bernie Madoff's $50 billion Ponzi scheme says the former Wall Street statesman, a pioneer of computerized trading, apparently hadn't purchased securities for customers in 13 years.
At last, everyone is hearing Cassandra out. The doomed prophet has taken modern shape in Harry Markopolos, the Boston accountant who blew the whistle on Bernie Madoff. The SEC ignored him. Now Congress listens.
Is the greatest Ponzi schemer in history a bit obsessive-compulsive? From former employees, whispers of his quirks and predilections are emerging. And now, for the first time, we have a look at his offices.