November 22, 2011
The Securities and Exchange Commission charged a longtime Bernie Madoff employee with fraud for his role in creating fake trades to facilitate the massive Ponzi scheme. The SEC alleges that David Kugel, who worked at Bernard L. Madoff Investment Securities LLC (BMIS) for nearly four decades, was asked by Madoff to provide the firm’s investment […]
November 4, 2009
The Securities and Exchange Commission today announced that Bernard Madoff’s auditors have agreed not to contest the SEC’s charges that they enabled Madoff’s fraud by falsely stating they audited the convicted fraudster’s financial statements in accordance with the relevant accounting and auditing standards. On November 3, 2009, the SEC submitted to the Honorable Judge Louis […]
June 23, 2009
Bernard Madoff’s lawyer has told a judge scheduled to sentence the disgraced financier next week that 12 years in prison will be sufficient punishment for the man who swindled tens of billions of investor’s dollars in one of history’s biggest frauds. Attorney Ira Sorkin also said in court papers made public Tuesday that his 71-year-old […]
May 14, 2009
A court-appointed trustee unraveling Bernard Madoff’s massive fraud signaled Thursday that he may go after the disgraced financier’s family to pay victim claims, which have grown to almost 9,000. Legal action against the family “is a matter that’s being looked into,” trustee Irving Picard said during a telephone conference call with reporters. Picard already has […]