Word: swindlers
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...spotlight, and Sheryl Weinstein went an unenviable route: she's famous for sleeping with a guy only slightly more popular than Stalin. Weinstein, the former CFO of the Jewish women's volunteer organization Hadassah, has written a new book, out Aug. 25, about her yearlong extramarital affair with swindler Bernie Madoff, titled Madoff's Other Secret: Love, Money, Bernie, and Me. Voyeurs won't be left wanting for dirt; the salacious tell-all chronicles their trysts in graphic, almost vengeful detail. Ironically, the 60-year-old Weinstein, who calls Madoff a "beast" and a "monster," has done more than anyone...
...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...
...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...
Ponzi Schemes--in which a swindler touts outsize returns, parries questions about legitimacy with hefty dividends and creates the illusion of solvency by paying off early investors with capital raised from later entrants--are named after Boston businessman Charles Ponzi. From 1919 to 1920, the Italian immigrant coaxed thousands of people into sinking millions of dollars into a complex deal involving international postage rates, which he said would earn a 50% profit in 90 days...
...parents' business contacts - and asked them to forward it to anyone they could think of - he says he has already received close to $6,000 from more than 2,000 people. Only a dozen or so e-mail recipients have written to him asking if he's a swindler. "Everybody's been really nice about it," he says. "As nice as I guess you can be to somebody you suspect to be scamming you. It hasn't been, 'Oh, you dirty bleep-bleep-bleep,' but, 'Don't try to scam people.' No curse words or anything...