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Andrew Madoff, Bernie Madoff's son, dies of cancer

Andrew Madoff, Bernie Madoff's son, dies of cancer

NEW YORK, Sept. 3 (UPI) --Andrew Madoff, the son of disgraced Ponzi scheme Bernard Madoff, died Wednesday after a battle with cancer.
Gabrielle Levy
UPI Almanac for Sunday, June 29, 2014

UPI Almanac for Sunday, June 29, 2014

UPI Almanac for Sunday, June 29, 2014
By United Press International
Madoff accountant pleads guilty to falsifying records

Madoff accountant pleads guilty to falsifying records

NEW YORK, June 24 (UPI) --An accountant denied knowing about Bernard Madoff's massive Ponzi fraud as he entered a guilty plea Tuesday in federal court in New York to falsifying records.
Frances Burns
Former Madoff employees convicted

Former Madoff employees convicted

March 24 (UPI) -- Jury decides former employees of Bernard Madoff knew they were involved in a Ponzi scheme.
Frances Burns
Bernard Madoff's advice to investors? Don't invest in stock market

Bernard Madoff's advice to investors? Don't invest in stock market

BUTNER, N.C., March 20 (UPI) -- Bernard Madoff, who pleaded guilty to orchestrating the biggest Ponzi scheme in U.S. history, advised investors to steer clear of the stock market.

The almanac

UPI Almanac for Thursday, March 13, 2014.
By United Press International

Trial of former Bernard Madoff employees winding down

NEW YORK, March 5 (UPI) -- A federal prosecutor said in closing arguments five former employees of Bernard Madoff's New York investment firm played critical roles in the deception.

In testimony, Madoff's ex-secretary calls him an excellent boss

NEW YORK, Feb. 25 (UPI) -- Annette Bongiorno, imprisoned financier Bernard Madoff's former secretary, said he was an excellent boss, in testimony in her trial in New York.

JPMorgan to pay $2.6 billion for Madoff scheme

NEW YORK, Jan. 7 (UPI) -- JPMorgan Chase will pay $2.6 billion to settle charges of failing to alert authorities of Bernard Madoff's suspicious activities, U.S. authorities said Tuesday.
JPMorgan Chase to settle with government over Madoff claims

JPMorgan Chase to settle with government over Madoff claims

NEW YORK, Jan. 6 (UPI) -- JPMorgan Chase is nearing a deal to pay the government about $2 billion to close out claims related to the Bernard Madoff Ponzi scheme, the New York Times says.
Ignoring Madoff to cost JPMorgan $2 billion

Ignoring Madoff to cost JPMorgan $2 billion

NEW YORK, Dec. 12 (UPI) -- JPMorgan Chase is expected to pay up to $2 billion for failing to alert U.S. authorities about Bernard Madoff, sources told the New York Times.

Madoff myths -- fabrications -- debunked

NEW YORK, Dec. 11 (UPI) -- Five years after New York trader Bernard Madoff's huge Ponzi scheme burst onto the nation's headlines, many mysteries remain, a lawyer close to the case said.

The almanac

UPI Almanac for Wednesday, Dec. 11, 2013.
By United Press International

Authorities close to deal with JPMorgan Chase over Madoff response

NEW YORK, Dec. 7 (UPI) -- U.S. authorities are considering deferred prosecution as a response to JPMorgan Chase's dealings with Bernard Madoff, the Wall Street Journal reported.
Madoff wanted all or none of staffer's $17 million in lottery winnings

Madoff wanted all or none of staffer's $17 million in lottery winnings

NEW YORK, Nov. 21 (UPI) -- Bernard Madoff wanted a former employee to invest all of his $17 million in lottery winnings with the convicted Ponzi schemer's firm, says a former colleague.
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Photos
Bernard Madoff
Bernard Madoff leaves Federal Court after a hearing where U.S. prosecutors persuaded a judge to end his house arrest for supposedly violating his bail conditions on January 14, 2009 in New York City. Madoff, who operated a $50 billion Ponzi-scheme, is accused of violating his bail conditions by attempting to hide his assets by mailing out $1 million worth of jewelry while under house arrest in his luxury apartment. (UPI Photo/Monika Graff)
Wiki

Bernard Lawrence "Bernie" Madoff (pronounced /ˈmeɪdɒf/; born April 29, 1938) is a former American stockbroker, businessman, investor, investment advisor, money manager, and former non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history.

In March 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme that defrauded thousands of investors of billions of dollars. Madoff said he began the Ponzi scheme in the early 1990s. However, federal investigators believe the fraud began as early as the 1970s, and those charged with recovering the missing money believe the investment operation may never have been legitimate. The amount missing from client accounts, including fabricated gains, was almost $65 billion. The court-appointed trustee estimated actual losses to investors of $18 billion. On June 29, 2009, he was sentenced to 150 years in prison, the maximum allowed.

Jeffry Picower, rather than Madoff, appears to have been the largest beneficiary of Madoff's Ponzi scheme, and his estate settled the claims against it for $7.2 billion. J.P. Morgan Chase & Co. may have also benefitted from the scheme – through interest and fees charged – to the tune of a billion dollars. Trustee Irving Picard has filed suit seeking the return of $1 billion and damages of $5.4 billion. Morgan denied complicity. According to the same lawsuit, New York Mets owners Fred Wilpon and Saul Katz and associated individuals and firms, received $300 million from the scheme. Wilpon and Katz "categorically reject" the charges.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Bernard Madoff."
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