Tag Archives : Ponzi scheme

Bernie Madoff has become history. He was on top of the world and could convince the investing public to trust him with their $65 billion through his Ponzi scheme. The collapse in 2008 was dramatic and the last year has seen consistent efforts to recover some of the investment. Household goods seized from Madoff’s Palm Beach mansion was auctioned last [...]

For being ‘extraordinarily evil,’ billion fraudster Bernard Madoff gets the maximum prison sentence of 150 years. His crime, one of the most talked about in recent history, is ‘masterminding a massive fraud that robbed investors of $50 billion.’ The 71 year old man had earlier asked for 12 years in prison for his crimes. Madoff has 10 days [...]

Bernard Madoff may be facing 150 years in prison but not if his lawyer can help it. Ira Lee Sorkin made a written request to the judge, referring to his client’s age and asking for the sentence to be reduced to 12 years. Madoff is 71 years old and with the average life expectancy being around 80 years; Sorkin believes that a sentence of 12 years would [...]

Bad corporate behavior has been taking the limelight lately. After all, the current raging economic crisis can very well be attributed to corporate excess gone wild and bad. Given the prevalence of corporate misconduct in the recent past, whistleblowing incidents are not exactly few and far between. Nothing beats the year 2002, however. Business Week [...]