Posts tagged ‘PONZI SCHEME’

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Madoff Markers that JPMorgan Missed

Money laundering controls fell prey to profits

Bernie Madoff once told a reporter from his prison cell in North Carolina that JPMorgan “doesn’t have a chance in hell” of avoiding liability in connection with his 20-year Ponzi scheme. 

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How to Avoid Getting Fleeced

Con artists excel at exploiting your financial ‘Achilles’ heel’

Bernie Madoff’s fraud victims included Steven Spielberg, a $16 billion fund of funds (Fairfield Greenwich Group) and the largest bank in Europe (Banco Santander).  Madoff also fleeced corporate moguls, politicians, attorneys, accountants, securities dealers, insurance companies, universities, foundations, country clubs and as many as 8,000 ordinary folks just like you.

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Short-Swing Profiteers

Billionaire hedge funders play poker over an activist target

At an investor conference last December, hedge fund activist Bill Ackman spent 3½ hours explaining why Herbalife, the 33-year-old direct marketer of nutritional supplements, was nothing more than a Ponzi scheme whose stock was worthless.

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Cover-up at the SEC?

A whistleblower’s disturbing tale of corruption and concealment

Mary Schapiro may have left the SEC last month, but she now faces a potentially ruinous blot on her legacy at the agency she chaired for more than four years.