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...original version of this story misstated where the lawyer Michael Gu works. He left the firm Allen & Overy last year, and is now at the Zhong Lun Law Firm...
...will get a filing extension to May 15, the IRS said. There are an estimated 4,800 people and/or funds who invested directly with Madoff and many more thousands who invested through pension and "feeder funds." In addition, there are an estimated tens of thousands invested with R. Allen Stanford's alleged $8 billion Ponzi and in the dozen or so Ponzis that have surfaced in the last three months...
...Fish said. “I thought we came incredibly close to pulling off an upset without a full group. It just showed how strong the guys down the lineup are, and how much they’ve improved.”—Staff writer Allen J. Padua can be reached at ajpadua@fas.harvard.edu...
...Internal Revenue Service is bracing for a deluge of amended tax returns from tens of thousands of victims caught up in the recent wave of multibillion-dollar Ponzi schemes and other frauds, most notably the sensational swindle perpetrated by Bernie Madoff and R. Allen Stanford's $8 billion certificates-of-deposit scam...
...moderates will likely have to hold their nose to vote for it. And now that they have the country's financial woes laid out before them, next year they are hoping to take out the knives. "At least this way people see the magnitude of the problem," says Representative Allen Boyd, a Florida Democrat and one of the leaders of the Blue Dogs. "You can't solve a problem until you are willing to admit what the problem is and put it in your plan...