The alleged Madoff scheme also hit several charities and other groups.
Friend is a bit more nuanced, while Lewis tends to skip over key figures in exchange for hyperbole i.e. comparing municipal public service benefits to a Madoff scheme.
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Regulators would rather put Madoff to rest than further investigate firms that not only facilitated the Madoff scheme but continue to this day to conceal it from investors.
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Authorities were only alerted to the alleged Madoff scheme in December, and it could be years before the bankruptcy trustee liquidating Madoff's investment business determines what individual investors will recover, and hence, (as the IRS sees it) what their deductible losses are.
For example, Henry Markopolos spent nearly a decade attempting to expose the billion-dollar Madoff Ponzi Scheme.
The Madoff Ponzi scheme and the greatest Depression since the 1930s were even harsher wake-up calls.
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After the Mets' owners settled a lawsuit caused by the Bernard Madoff Ponzi scheme, they promised to resume spending.
Charities worldwide were hit with massive losses and some were forced to shutter as a result of the Madoff Ponzi scheme.
When the Madoff Ponzi scheme first broke in late 2008, it seemed most uncertain whether his investors would ever get their money back.
As part of the complaint, Picard also sued the widow of the first known suicide victim connected to the Madoff Ponzi scheme.
The Mets have certainly had their share of turbulent times, including most prominently as a result of the fallout of the Madoff Ponzi scheme.
With so-called clawback suits, Picard has also started to sue Madoff victims who took out more from the Madoff Ponzi scheme than they put in.
It has been nearly two years since the Madoff Ponzi scheme was revealed, but much of they mystery remains around the biggest financial crime ever.
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In a press release, Picard claims UBS actively assisted the Madoff Ponzi scheme by sponsoring and administrating Luxalpha SICAV and Groupement Financier, two feeder funds.
The Securities and Exchange Commission (SEC) has finally disciplined eight of its staff members in connection with agency failings relating to the Bernard Madoff Ponzi scheme.
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Goldman has been looking to exit the business with the SEC tightening the noose on hedge fund administrators after the Madoff Ponzi scheme came to light.
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That wasn't the case in the past when Wilpon and Mets management were busy paying off debts and working on damage caused by the Bernard Madoff Ponzi scheme case.
This was a bad trade for Krys, who because of it now has much less money to pay back victims who invested in the Madoff Ponzi scheme through the Fairfield Sentry feeders.
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Accordingly, I conclude that the subsequent information regarding the Madoff Ponzi scheme is relevant to the determination of the fair market value of the IRA. The unearthing of the Ponzi scheme exposed that the statements are fictitious.
In a controversial move that Picard has long advertised, Picard has also recently started to sue tens of individual Madoff investors in so called-clawback suits, alleging these investors took out more from the Madoff Ponzi scheme than they put in.
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Schapiro, who took over as chairman of the SEC after the agency was tarnished by missing the Bernie Madoff Ponzi scheme and sitting idly by while the financial crisis developed, leaves the SEC stronger than the way she found it.
To start with, the past half year has all but confirmed that the New York Mets hiring of Sandy Alderson as general manager was part of a larger intervention by the league after ownership took a hit in the Madoff Ponzi scheme.
Madoff of knowing about and participating in his brother Bernard Madoff's illegal scheme.
The Mets have been the epitome of a dysfunctional sports franchise even without any references to Bernie Madoff and the Ponzi scheme.
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In a culture that tolerated Wall Street's insider trading and overlooked Madoff's Ponzi scheme, some staff attorney was bound to ask: Why not me?
This ought to be part of a broader overhaul of a financial regulatory system that everyone knows is a mess: we have seven agencies overseeing banking, securities and futures and they still allowed the banks to behave like lunatics and failed to spot Bernie Madoff's Ponzi scheme.
The four-page decision by U.S. District Judge Jed Rakoff in New York is a blow to the Mets owners, Saul Katz and Fred Wilpon, who have been in a prolonged legal battle for more than a year with Irving Picard, the court-appointed bankruptcy trustee seeking to find money for victims of Mr. Madoff's Ponzi scheme.
The agency has been under fire lately for completely missing the alleged Ponzi scheme of Bernard Madoff.
Madoff allegedly conducted his Ponzi scheme for more than three decades, relying on so-called feeder funds like Cohmad to recruit investors.
Picard would have to essentially prove that Wilpon and Katz knew that Madoff was running a ponzi scheme, a very tough task.
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