Bernard Madoff

Madoff Bankruptcy Trustee Drops One Claim Against Merkin, Eleven Remain

Daily Intelligencer - New York Magazine (Free subscription) | 8 hours ago

J. Ezra Merkin is very sued. Irving Picard, the bankruptcy trustee responsible for liquidating Bernie Madoff’s investment firm, dropped one of twelve claims against J. Ezra Merkin, the man who reaped in a large chunk of Madoff’s fake profits. The total value of the suit hasn’t changed from $564.6 million, but $279 million of that will have to come from a different place — Merkin’s...

Manhattan, NY – Madoff Trustee Drops $279 Million Claim Against Ezra Merkin

Vos Iz Neais (Free subscription) | yesterday

Manhattan, NY – The liquidator for Bernard Madoff’s firm reduced by $279 million the amount of fake profit he wants returned from J. Ezra Merkin’s Ariel and Gabriel funds, which invested one-fourth of their money with the con man. Trustee Irving Picard, who is suing Madoff’s biggest investors to help repay victims, on Nov. 2 dropped [...]

Super Lawyer Is Super Busted

Advance Indiana (Free subscription) | yesterday

A high-flying South Florida attorney is facing the scrutiny of federal agents and his own law partners. Fort Lauderdale's Scott Rothstein owned a $5 million yacht and $36.5 million in real estate. He drove nice luxury car brands, including Mercedes Benz, Rolls Royce, Ferrari, Porsche and Lamborghini. He donated millions of dollars to GOP political candidates both nationally and at the state level....

House votes 220-215 to screw taxpayers, old folks and healthy Americans

The Travis Monitor (Free subscription) | yesterday

The unresponsive socialist house drives the first nail . The destruction of our freedom, prosperity, and future was passed narrowly, 220-215. While illegal aliens and Govt bureaucracies get the goldmine, healthy, responsible,taxpaying contributors get the shaft. Texas Reps who voted FOR this Trillion-dollar tax-and-spend-and-mandate bill: TX-15 Hinojosa, Rubén [D] TX-16 Reyes, Silvestre [D]...

Total Nut Job Sues For Custody of Celebrity Babies

The Hollywood Gossip (Free subscription) | 07/11/2009

There are a lot of complete wackos out in the U.S. prison system, but very few of them (probably for the best) hand-write court papers and file lawsuits. Jonathan Lee Riches (a.k.a. Bernard Madoff) is one of the chosen few. In a recent court declaration, the Indiana inmate sued for custody of the eight kids of Jon and Kate Gosselin and the offspring of Octomom Nadya Suleman. Oh, and in a political...

FBI charges 14 more in Galleon Group insider trading scandal

JURIST (Free subscription) | 07/11/2009

[JURIST] Federal authorities have filed charges against 14 people in connection with insider trading at the hedge fund company Galleon Group, weeks after the arrest of the company's founder. An investigation by the Federal Bureau of Investigation (FBI) allegedly revealed more than $20 million in illegal profits and led to criminal charges against hedge fund managers, analysts and lawyers involved in...

Amid injustices, we can find our place in life

News: Opinion -- KansasCity.com (Free subscription) | 07/11/2009

It costs $722 to fly from St. Paul/Minneapolis to Bismarck, N.D., and you can fly from St. Paul/Minneapolis to Paris for $754. Life is unfair; we all know this. Big prizes go to mediocrities while you struggle on, unappreciated. The righteous suffer while the wicked prosper. Bernie Madoff danced around the Securities and Exchange Commission to the tune of billions and the immigration people deport...

About-face on Madoff assets.

Denver Post (Free subscription) | 07/11/2009

The court-appointed trustee in charge of recovering assets for investors burned by Bernard Madoff has withdrawn a $279 million claim against financier and former GMAC chairman J. Ezra Merkin's Ariel and Gabriel funds.

• Madoff Trustee Drops $279 Million Merkin Claim - DealBook
• Madoff Trustee Drops Claim Against Merkin - Law Blog - WSJ.com

Madoff Trustee Drops Clawback Claim for $279 Million From Two Merkin Funds

Bloomberg (Free subscription) | 06/11/2009

Nov. 6 (Bloomberg) -- The liquidator for Bernard Madoff’s firm reduced by $279 million the amount of fake profit he wants returned from J. Ezra Merkin’s Ariel and Gabriel funds, which invested one-fourth of their money with the con man.

Zvi Goffer Chose to Wear a Track Suit on the Big Day

Daily Intelligencer - New York Magazine (Free subscription) | 06/11/2009

Most financial criminals attempt to look dignified during their perp walks. Bernie Madoff wore a suit on his big day, as did Matthew Tannin and Ralph Cioffi , and even Marc Dreier (although the accompanying stubble and Unabomber hair in that case somewhat lessened the effect). But the gang arrested as part of the SEC and FBI's sting on the Galleon insider-trading group is so far doing little justice...

Through the Brunoscope

Dave Lucas (Free subscription) | 06/11/2009

I'm one of several reporters for local media watching and acting as a floater in the coverage of the trial of Joe Bruno. The chatter among reporters revolves around the zillion dollar question: did Bruno do anything any other politician would have done (or might be doing now). He makes a great target: people outside the immediate area lump Bruno in with Bernie Madoff. Yeah, that's interesting, but...

Suspended sports radio host returns to airwaves

TBO > Sports (Free subscription) | 06/11/2009

Outspoken sports radio host Dan Sileo was back on the air this morning, a week after he was suspended by WDAE, 620 AM, and the station retracted his report about the finances of the Glazer family. On Oct. 29, Sileo quoted a "friend" who works with the Securities and Exchange Commission as saying the Tampa Bay Buccaneers' owners lost $440 million in the Bernie Madoff Ponzi scheme. He also...

• Suspended sports radio host returns to airwaves - Tampa Bay Online

'The Voysey Inheritance' at the Caldwell

Miami Herald (Free subscription) | 06/11/2009

The Voysey Inheritance has its first preview performance at 2 p.m. Sunday. Mamet's version of Harley Granville-Barker's 1905 drama about a wealthy clan undone by the patriarch's Ponzi scheme (Bernie Madoff, anyone?) stars Peter Haig as the owner of the family-run investment firm. Also in the large cast are Terry Hardcastle, Lourlene Snedeker, Stephen G. Anthony, Kathryn Lee Johnston, Jim Ballard, Katherine...

The Market, School of Virtue

Acton Institute PowerBlog (Free subscription) | 05/11/2009

This week’s Acton Commentary: Does the market inspire people to greater practical virtue, or does it eviscerate what little virtue any of us have? Far from draining moral goodness out of us—as many think—the free market serves as a “school of the practical virtues.” Rather than elevating greed and self-sufficiency, the market fosters interdependence and cooperation. Its...

• The Market, School of Virtue - OrthodoxyToday.org Blog

CEOs: Founders beat out managers

FelixSalmon.com (Free subscription) | 05/11/2009

We're less than two months from a New Year's where a 9 ticks over into a 0, and so that means all manner of decade retrospectives. (And still we haven't come up with a name for this decade!) Fortune is getting into the game early, naming Steve Jobs its CEO of the decade, for his work at Apple. What's more interesting to me is the list of 12 “also-rans” for the title: Larry Page, Sergey...