Word: madoff
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Monday, a judge declined a request by prosecutors to jail Bernard Madoff, saying the former investment adviser who is accused of bilking $50 billion from clients did not pose a flight risk. Prosecutors made the request last week after it was discovered that Madoff had sent over a million dollars in jewelry to relatives in the past few weeks. Investigators also revealed that Madoff had $173 million in signed checks sitting in his office drawer at the time of his arrest. Prosecutors say they will appeal the ruling...
...Madoff, the "sophisticated swindler," couldn't have agreed more. Some unregistered feeder funds, like the one I and others invested in, had $500 million or more in them and were the early engines of Madoff's dubious success...
...sure it would have helped stop this crime, but earlier transparency, or registration for the sponsor group [feeder fund] has a logic to it now," says Barbash. "Certainly, I think greater protection would have come if Madoff was forced to register...
...until 2006, Madoff was not even registered as an investment adviser. When he did register as an adviser, the SEC checked him out and gave the thumbs up. No Ponzi here...
...Generally, hedge-fund managers are loath to endorse more regulation, but even Chris Kundro, co-chief executive officer at New York City-based LaCrosse Global Fund Services, which manages $13 billion in assets for its clients, believes the Madoff case "has changed things." Kundro told Bloomberg TV last week that the Madoff fraud was a unique situation that added to the overall crisis in investor confidence. Since Madoff, Kundro said, there is "now a fundamental shift in thinking that some regulation may be needed for feeder funds...