fraud news from FierceFinance
News
More Madoff associates to be charged
There's been some disappointment that so few people have been charged as accomplices in the Bernard Madoff Ponzi scheme. That so much could have been stolen for so many years seems next to impossible... Read more...
The rise of asset hunters?
All the financial industry fraud as of late--the Madoffs, the Stanfords and all the others--has led to a boom in the "murky business of asset forfeiture," reports Business Week. "Long a staple of the... Read more...
The problem with the bank aid programs
The special inspector general with oversight over bank bailout activity has issued his second report to Congress, and it is not pretty, according to the New York Times. Neil Barofsky criticized the... Read more...
Ex-Morgan Stanley exec convicted in stock loan scheme
The mania-like urge to short stocks last year led to some big shortages in borrow-able stocks and created a shady cottage industry aimed at filling the need. Stock-loan finders sought to help the... Read more...
Madoff heads to prison
As the investors he cheated applauded, Bernard Madoff was sent to prison. He may want to get used to his new surroundings, as his sentencing is June 16, and prison time for a massive Ponzi scheme... Read more...
The big mystery in the Madoff case
Bernard Madoff is expected to plead guilty today to multiple counts of fraud, which will leave him facing a lifetime in prison. There are lots of questions about how he perpetrated his epic Ponzi... Read more...
Madoff to plead guilty
Looks like Bernard Madoff, who ran one heck of a big Ponzi scheme, will plead guilty after all--without a plea bargain, reports the AP. He faces a staggering prison term that could hit 150 years. The... Read more...
Madoff to turn on others?
Bernard Madoff is expected to essentially plead guilty this week to criminal charges of fraud. He is certainly facing jail time, but some are wondering if he'll give up some associates. It's quite... Read more...
Big run on Antigua bank; Stanford whereabouts unknown
A day after Texas billionaire Allen Stanford, of the disgraced Stanford Group, was charged with running an $8 billion fraud, the lines have lengthened at Stanford-linked banks in Antigua and Caracas.... Read more...
Madoff's wife withdraws $15.5 million ahead of arrest
On the day before Bernard Madoff was arrested, his wife, Ruth, withdrew $10 million from a brokerage firm partly owned by her husband, the New York Times reports. Before that, she also made a $5.5... Read more...
