Word: bernard
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There's a new number in the Great Madoff Rip-Off saga, and it's $850 million. That's the estimated amount of liquid assets left from Bernard Madoff's private sandbox of billions, according to Stephan Harbeck, president of the Securities Investors Protection Corp., speaking at Monday's House Financial Services Committee hearing on the $50-billion Madoff scandal...
Sure, experts say, he'll cough up the obvious brokerage accounts, client names, and offshore and numbered accounts that dealt directly with his investment company, Bernard L. Madoff Investment Securities LLC. And he'll begrudgingly concede the $7 million Park Avenue pad, the Palm Beach digs, the yachts, the French villa and the Montauk getaway. But no one believes he'll tell authorities where all the booty is stashed - not a chance, unless it saves him from walking the plank. It's the equivalent of the British government asking the infamous pirate Captain Kidd if he wouldn't mind handing...
...foundation responsible for funding two Harvard programs at nearly $1 million has been forced to close amid Bernard L. Madoff’s $50 billion securities fraud. Both Harvard groups, which were supported by the JEHT Foundation, received the amount they were promised before the philanthropic organization shut down. The International Human Rights Clinic at Harvard Law School received a total of $161,261 in 2006 and 2008 for its South Africa Apartheid Litigation project. “We’ve received the full amount. The grants are completed essentially,” said Clinical Director Tyler R. Giannini...
...Bernard Madoff's $50 billion Ponzi scheme continues to rock the financial world. But most hedge funds actually engage in similar - albeit legal - practices in the short run. In the past, these practices helped inflate their gains as well as hedge-fund managers' salaries and bonuses, but recently they helped bring about the failure of many major hedge funds...
...Madoff, Bernard • insanity defense is considered by lawyers...