Word: bernardes
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...unregistered feeder-fund victims are likely to get little. Here's why: As it stands, the SIPC's charter helps investors recover monies only from registered brokers and firms engaged in fraud. This is all good for the 8,000 who had registered or direct accounts with Bernard Madoff Investment Securities, a broker/dealer. In fact, right now, most are busy filling out their just arrived SIPC claim-recovery forms in hopes of getting back half a mil. See a brief history of Ponzi schemes...
...congressman, first disgraced Representative Mark Foley and then his successor, Tim Mahoney, who lost his re-election bid in November after admitting to having multiple extramarital affairs and paying hush money to one of his former mistresses. And Palm Beach was the winter home of alleged Ponzi scheme leader Bernard Madoff, who found many of his allegedly bilked investors in the area...
...Madoff, Bernard •perplexing continued nonimprisonment of continues to be taken advantage...
...venture-capital and private-equity firms, where partners are expected to regurgitate past earnings to make good on unmet promises to investors. And wherever outright fraud can be proved, those who benefited can be forced by the courts to disgorge their gains--as investors who withdrew money from Bernard Madoff's apparent Ponzi scheme before it collapsed might discover in the coming months...
...methods and motives remain cryptic, but the carnage unleashed by Bernard Madoff is beginning to be revealed: in a New York City federal court, where the former Nasdaq chairman stands accused of masterminding a $50 billion Ponzi scheme; in congressional hearings; and in the Manhattan office of a French financier who killed himself after Madoff bilked him and his clients out of more than $1 billion...