Word: madoff
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Creating the illusion of fantastic success, of course, is Chapter 1 in the Scammer's Handbook. But many among the most egregious alleged billionaire bamboozlers, like R. Allen Stanford and Bernie Madoff, are taking the art of thievery to the next level. Some don't even bother opening an investor account when new monies come in; they just go shopping. It's enough to make Gordon ("Greed is good") Gecko blush. (See 25 people to blame for the financial crisis...
...Trading Commission (CFTC) with allegedly "misappropriating" at least $553 million either for personal expenses or to cover trading losses. The CFTC is the sister agency of the Securities and Exchange Commission and covers fraud in the commodities, futures and foreign-exchange markets. (See pictures of the demise of Bernard Madoff...
...have jobs, who don't have a pot to pee in." She went on: "Sir, there are tent cities. Go and look at who is standing in line to get soup. There are white collar workers in those lines now." (See pictures of the demise of Bernard Madoff...
...would be brash enough to host a Bernie Madoff Appreciation Dinner? The members of Friday Night Lights, a group founded by Tobias S. Stein ’11 to enliven the celebration of Judaism, did just that...
...challenge of being rich, in a sharp recession, often moves from hiding wealth to keeping it. Some people with a lot of money get bilked by the genius of people like Bernie Madoff, a man who must be near the top of his class at Mensa. Usually, losing money does not require a lapse in judgment. In a poor economy, invested capital just disappears. People who had $20 million suddenly have $10 million. If they have been frugal, they are OK. If not, they often go bankrupt...