Word: frauds
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Dates: during 2000-2009
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...Madoff said she recognizes that lives have been upended and futures taken away. "I am embarrassed and ashamed. Like everyone else, I feel betrayed and confused," she said. "The man who committed this horrible fraud is not the man whom I have known for all these years...
...added that he was particularly moved by one victim's statement that described how Madoff assured a woman, whose husband had recently died, that her money was safe and encouraged her to invest more within weeks of the scandal being exposed, even though he knew it was all a fraud. The woman's money is now gone and her home had to be sold, Chin said. (See pictures of the demise of Bernard Madoff...
Madoff pleaded guilty on March 12 to 11 felony counts, including securities fraud, perjury, investment-adviser fraud, mail fraud, wire fraud, three counts of money laundering, false filings with the SEC and theft from an employee benefit plan. The scam's victims included high-profile celebrity names such as actress Kyra Sedgwick, actor Kevin Bacon, director Steven Spielberg, actress Zsa Zsa Gabor, actor John Malkovich, New York Daily News owner Mort Zuckerman and the family trust of DreamWorks CEO Jeffrey Katzenberg, as well as charities, universities, hedge funds, banks and pension funds around the world...
...Federal prosecutors balked at Sorkin's suggestion and demanded a 150-year sentence. "He engaged in wholesale fraud for more than a generation," said Marc Litt, an assistant U.S. Attorney, in a note to the judge. "The sheer scale of the Madoff fraud calls for severe punishment...
...rallies by word of mouth. It was democracy in action. "The amazing thing is that this movement has no leader," said Sima, 40, a book editor in Tehran. "Sure, people support [opposition presidential candidate Mir-Hossein] Mousavi, but the real reason they're here is to protest against the fraud...