Posts Tagged ‘Ponzi scheme’
U.S. Attorney Preet Bharara called the settlement a “game changer” for Madoff’s victims
The widow of a Florida philanthropist who had been the single largest recipient of Bernard Madoff’s colossal Ponzi scheme has agreed to return $7.2 billion in bogus profits to the victims of the fraud, she and authorities announced today. The trustee recovering money for Madoff’s ripped off investors filed court papers formalizing the settlement with…
Read MoreMark Madoff found hanged in New York
In his New York apartment, Mark Madoff age 46 committed suicide by hanging himself. A family member reported the incident to the police. For the past two years constant pressure from false accusations and insinuation that he was connected with the Ponzi scheme worn down his resistance leading him to take his own life he…
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