Category Madoff


By Ailis Aaron Wolf Madoff Trustee’s Third Distribution Sends Approximately $506.2 Million to Customers With Allowed Claims. With the distribution of approximately $506.2 million to victims in the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), a total of $5.44 billion will now have been distributed to BLMIS customers with allowed claims. The Securities […]

Madoff’s case bigger, but Stanford’s messier

By Loren Steffy From the beginning, the collapse of R. Allen Stanford’s financial empire was unlike other financial scandals, and the aftermath of his alleged $7 billion fraud has been messier than normal for investors in such cases. Bernard Madoff, after all, orchestrated a Ponzi scheme almost 10 times bigger than the one Stanford is […]

International Victims Charge America to play Fair

In 2009 on the heels of the Madoff fraud, the Ponzi scheme operated by R. Allen Stanford was uncovered which has received widespread media coverage in the United States. What has not been widely reported is that only 4,000 of the 21,000 victims worldwide are US citizens. The remaining 17,000, the vast majority, are innocent […]

Chasing Madoff

By Kachroo Legal Services, P.C. “KLS is proud to present the Fox Hounds’ documentary feature film to be released in the US in late August, 2011. Please check it out at a theatre near you. It is a substantive and educational review of Wall Street, underscoring the profound need for financial reform and ethics in […]

The US government can be sued on account of the fantastic negligence of the SEC

Information, as expected, has been coming out, even if slowly. Inparticular, excellent sources of information and ideas seem to include the SEC Inspector General’s two Reports on the Madoff case; the IG’s two reports on the all too analogous Stanford scam; and complaints, among others, filed against J.P. Morgan Chase, against a money manager, now […]

SEC’s corruption allowed Stanford’s fraud

The Securities and Exchange Commission knew that Allen Stanford was involved in a Ponzi scheme as far back as 1997, according to a report released Friday by SEC Inspector General David Kotz. The 159-page report said the scheme was able to continue for so long due to “institutional influences” within the SEC, and the agency’s desire to […]

Finra Missed Chances to Catch Stanford and Madoff

By Joshua Gallu, David Scheer and Ian Katz The Financial Industry Regulatory Authority didn’t fully probe transactions at Bernard Madoff’s firm and repeatedly failed to investigate tips about R. Allen Stanford’s alleged $7 billion fraud, an internal report found. Employees at the U.S. brokerage industry’s main regulator must more aggressively exercise their authority, and escalate […]