Pyramid Schemes

  • Film

    February 26, 2014
  • Blogs

    February 5, 2014

    Several Hedge Funds to Sue Big Banks for Role in Tom Petters Ponzi Scheme

    Six hedge funds are seeking to sue JP Morgan Chase, Bank of America, Wells Fargo, and other banks for their role in a $3.65 billion Ponzi scheme. The hedge funds claim that they lost a combined $177 million to Tom Petters, the Minnesota-based CEO who was convicted for the fraud and sentenced to 50- ... More >>

  • Blogs

    October 3, 2012

    Bernie Madoff Wasn't Alone in His Dirty Work, Five Former Employees Hit With New Charges

    The Manhattan U.S. District Attorney and several other government agencies announced new and revised charges yesterday for five former employees who worked for infamous scam artist Bernie Madoff. Daniel Bonventre, Annette Bongiorno, Joann Crupi, Jerome O'Hara, and George Perez were indicted back i ... More >>

  • Blogs

    June 25, 2012

    Bernie Madoff Money Manager J. Ezra Merkin Forced To Cough Up $410 Million To Repay Victims

    The man who controlled four funds that invested more than $2 billion with convicted ponzi-schemer Bernie Madoff on behalf of hundreds of investors -- including several charitable organizations -- is gonna have to cough up some serious coin to repay victims who lost loads of cash.New York Attorney G ... More >>

  • Voice Choices

    April 11, 2012



    See Three Sisters in its mother tongue

  • Blogs

    March 2, 2011

    The Bernie Madoff of Sudan

    ​Sure, the numbers aren't as big, but Adam Ismael, a Sudanese ex-cop, has more than a little bit in common with Madoff, who we shall call the Babe Ruth of Ponzi schemes. You see, Ismael, currently under comfy house arrest even as many of his countrymen suffer torture, ran an investment scheme ... More >>

  • Blogs

    February 14, 2011

    If Mets Go Under, Who Pays for Citi Field?

    ​If the last ten days in the life of Mets owners Fred and Jeff Wilpon were a baseball game, they would have been shut out, made 17 errors, and hit into a game-ending unassisted triple play. (That last feeling, admittedly, is one that they're already familiar with.)

  • Blogs

    February 10, 2011

    Ruth Madoff Shunned at Son's Memorial

    ​When Mark Madoff, son of disgraced Ponzi-schemer Bernie Madoff, killed himself in December, his mother Ruth traveled to Greenwich, Connecticut for the memorial service, but was not allowed in by Mark's widow Stephanie, according to a report by People appearing in today's New York Post. Instea ... More >>

  • Blogs

    February 4, 2011

    Meet The Mets, Sue The Mets

    ‚ÄčThe trustees for Bernie Madoff's victims have filed a lawsuit against the owners of the Mets claiming they ignored pointed and repeated warnings that Madoff was operating a Ponzi scheme. The New York Times reports that Fred Wilpon and Saul Katz are accused of looking the other way as Madoff's swe ... More >>

  • Blogs

    March 12, 2009

    Madoff Pleads Guilty (UPDATE: And is Jailed!)

    "He's taken a drink of water and told [Judge Denny] Chin that he understands the charges against him and that he's clear of mind, given the circumstances," liveblogs the Am Law Daily. Then the master criminal entered a guilty plea this morning to 11 counts of fraud, money laundering, perjury and the ... More >>

  • Blogs

    February 19, 2009

    Madoff Lawyer Has Valuable Experience with Madoff-Involved Crooks

    The glossies interview movie stars and scene-makers, but the New York Law Journal interviews Bernie Madoff's lawyer. As you might expect, though, counselor Ira Lee Sorkin doesn't say much. But his history with Madoff is interesting: After meeting the swindler in the 1980s, the former SEC prosecutor, ... More >>

  • Blogs

    October 10, 2007

    What Ever Happened to the Pallets of Cash Sent to Iraq

    The Coalition Provisional Authority made 21 shipments of cash, like this one, totaling $11.9 million to Iraq over 14 months, according to Vanity Fair. The feds shipped 281 million individual banknotes or 363 tons of money. Remember those pictures of billions of dollars of U.S. currency, neatly stac ... More >>

  • Blogs

    September 20, 2007

    Feds Charge Hsu in 'Massive Ponzi Scheme'

    Bad pun alert: Lots of politicos were waiting for the other Hsu to drop and today it did as federal prosecutors in Manhattan unsealed an indictment against Norman Hsu, the Democratic fundraiser already in federal custody on unrelated charges. The indictment charges that Hsu, 56, orchestrated a Ponz ... More >>