Tag Archives: ponzi scheme
New York Exec Nailed for Alleged $400 Million Ponzi Scheme
New York (HedgeCo.Net) – Nicholas Cosmo, head of New York-based Agape World Inc., has been arrested for allegedly running a $400 million Ponzi scheme. His company, which marketed commercial bridge loans, was not registered with the U.S. Securities and Exchange […]
Shapiro a Madoff Victim
HorseRaceInsider.com – Richard Shapiro, former chairman of the Califorinia Horse Racing Board, has been "devastated" financially by the $50-billion Ponzi scheme that was engineered by Bernard Madoff, according to a letter that Shapiro wrote to a U.S. Congressman. "Nearly all […]
Inspector General investigating Boston and New York SEC offices in in wake of Markopolos allegations
Examiner.com – David Kotz, Securities and Exchange Commission Inspector General, told the U.S. House Committee on Financial Services last week he was determined to learn "the reasons for the SEC’s apparent failure to act" on repeated warnings about Bernard Madoff’s massive […]
Viewpoint: Madoff scandal makes case against regulation
Baltimore Sun – If there is anything we have learned from the crisis in the financial sector, it’s the urgent need for more regulation. Had federal regulators been more vigilant or wielded greater powers, all this suffering and heartache might […]
Bank Safdie Dodges Madoff Loss, Predicts More Hedge Fund Rules
Bloomberg – Banque Safdie SA, the Geneva-based wealth manager that withdrew money invested with Bernard Madoff three years before his alleged Ponzi scheme unraveled, said the scandal will mean more hedge fund regulation. “What Madoff has done is highlight the […]
Kevin Bacon, Kyra Sedgwick among Madoff victims
Globe Gazette – Kevin Bacon and wife Kyra Sedgwick are among the many victims of the massive Ponzi scheme run by the disgraced New York money manager. Bacon’s publicist, Allen Eichhorn, confirmed Tuesday that the couple had investments with Madoff. […]
NYU Latest Victim in Madoff Debacle
New York (HedgeCo.Net) – New York University is the latest victim in Bernard Madoff’s web of lies, claiming it lost $24 million in a fund of fund that invested with the infamous Ponzi schemer. According to a complaint filed Christmas […]
More Investors Sue Hedge Funds for Ties to Madoff
New York (HedgeCo.Net) – Investors in the hedge fund Fairfield Greenwich Group have sued the company after about $7.5 billion in potential losses stemming from ties to Bernard Madoff. The investors claimed that Fairfield sustained “avoidable losses,” by not practicing […]
Some Investors Predicted the Madoff Debacle
New York (HedgeCo.Net) – As the investigation continues into what has turned out to be the largest fraud in history, more and more investors are coming forward who saw the red flags early, refusing to do business with Bernard Madoff. […]
