Word: ponzi
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Dates: during 2000-2009
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...Tuesday that he and others knew as far back as the early 1990s that no sales were taking place in Madoff's investment scam. He made the comments while pleading guilty to criminal charges as part of a government cooperation agreement for his role in Madoff's $65 billion Ponzi scheme...
However, DiPascali is viewed as a major linchpin in the case, having worked alongside Madoff for 33 years, where he supervised the taking and tracking of client orders. He described himself as director of options-trading, even though no actual trading took place during the Ponzi scheme. Some experts speculate that DiPascali is cooperating in exchange for leniency...
...York City Madoff Loses His Shirt ... and Cuff Links On June 29, a judge sentenced swindler Bernie Madoff to 150 years in prison for perpetrating a $65 billion Ponzi scheme. Meanwhile, federal marshals prepared to seize assets from the disgraced financier and his wife to reimburse victims. While Ruth Madoff will get to keep $2.5 million in cash, the couple handed over everything from a $39,000 Steinway piano to a $25 pair of cuff links...
...those bills - and what can't be - if he is going to sign them. He also needs to update the public on his stimulus plan, especially now that his Vice President inadvertently dissed it. And he needs to make a direct assault on the greedheads who created the Ponzi economy and are now trying to gut his plan to make them do business honestly. (See 25 people to blame for the financial crisis...
...Madoff's Ponzi scheme was an "extraordinary evil" - "not a bloodless crime," as the defense was trying to suggest, Chin said. He added that Madoff had not been forthcoming in helping authorities locate missing assets. "[Madoff] has not been helpful and not done all that he could or told all that he knows...