Word: madoff
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...comments come in the wake of numerous Ponzi scheme crimes, most notably Bernard Madoff's $65 billion scam, which Shulman said was tragic but raised a "staggering array of tax and pension implications for the victims," many of whom have lost entire life savings and retirement accounts. (Read "Another Victim of the Ponzi Schemers...
...survivors trying to recoup lost money. But with the April 15 tax clock ticking, figuring out what to do about recovery, both from taxes and from the Securities Investor Protection Corp. (SPIC), has become a mind-boggling maze for accountants and their Ponzi-victim clients. At a hearing yesterday, Madoff pleaded guilty to his decades-long crime, was handcuffed and ordered to jail. Sentencing is scheduled for June, but he could potentially be sentenced to 150 years on 11 counts. (Read "The Madoff Hearing: A Guilty Plea, but No Catharsis...
Late last month, two Senators and three Congressmen sent a two-page, single-spaced letter with 10 questions to the IRS asking for direction in resolving a series of important questions regarding Madoff and Ponzis, such as whether there will be special extensions for victims. The letter also suggested setting up a special "Madoff unit" to process claims. (Read more about Ponzi schemes...
...pictures of the demise of Bernie Madoff...
...Madoff, Bernard • victims of applaud overdue jailing...