Word: bernard
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...Madoff, Bernard •badness of - on so many levels - for the Jews •hustling people out of $50 billion by is somehow deemed by courts to be a minor enough offense to warrant part-time house arrest - in a luxury apartment, with the freedom to come and go as desired between 9 a.m. and 7 p.m. - rather than actual, you know, 24-hour-a-day JAIL...
...KPMG, PricewaterhouseCoopers, BDO Seidman and McGladrey & Pullen all gave clean bills of health to the numerous funds that invested with Bernard Madoff and his asset-management firm. Clients say the large accounting firms signed off on statements that said the Madoff investment vehicles had billions of dollars in assets as well as an unlikely track record showing years of always-positive returns. The billions have vanished, and the impressive returns now look to have been made up. See the top 10 financial collapses...
...York Anatomy of a Scam Celebrated money manager Bernard Madoff was arrested for allegedly bilking investors out of up to $50 billion in a Ponzi scheme described as one of history's largest swindles. The scam's blueprint hasn't changed much since Charles Ponzi's 1920 fraud: 1 Entice investors by promising an unusually lucrative rate of return. 2 Use a portion of the raised capital to pay out early dividends, thereby giving the appearance of legitimacy--which in turn attracts more investors. 3 Pay off earlier investors with money accrued from later victims. 4 When no further capital...
...didn't know it yet, but we had been playing in the Bernard Madoff Investment Securities LLC Fantasy Financial League. It began when we sold our home at the peak of the market, collected what was left from an old divorce, found other monies and then, with a combination of pleasure and trepidation, handed over our life savings to someone named Stanley Chais, the Los Angeles network organizer for a man named Bernard Madoff...
...billion Ponzi scheme allegedly masterminded by former Nasdaq chairman Bernard Madoff punctuated a miserable year for Wall Street in the worst possible way: by underlining, yet again, that savvy market-makers can harness arcane financial instruments as weapons of mass destruction. Left in Madoff's wake are bankrupt investors, mortified regulators and a raft of unnoticed red flags. Madoff's methods previously had been investigated by the SEC, and in 2001, a prescient article raised questions about his inscrutable strategies: "Madoff's investors rave about his performance - even though they don't understand how he does it," wrote Barron...