Latest On Bernard Madoff

  • Madoff Avoids Jail (For Now)

    Despite having sent a cool million dollars worth of jewels to friends and family over the holidays, the alleged mastermind behind arguably a $50 billion Ponzi Scheme - the largest financial fraud in history - was given permission to remain under house arrest in his Manhattan penthouse on $10M bail. How long can a guy be cooped up in a sprawling penthouse before getting sick and tired of taking baths in a jacuzzi filled with gold? Our heart goes out. Read More ›

    Eliot Glazer 5 years ago respond

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    Madoff Suicide

    Thierry Magon de la Villehuchet was found in his office this morning with multiple stab wounds, with pills and a box cutter nearby. De La Villehuchet was the CEO of Access International Advisors, which had invested $1.4 billion with accused Ponzi schemer Bernard Madoff. He is thought to have committed suicide, and he’s a hot topic on Google right now, as everyone tries to learn more about his connection to the Madoff scandal. Read More ›

    Jack Shepherd 5 years ago respond

  • Ponzi Scheme

    With the arrest of Bernard Madoff for defrauding investors of billions of dollars, everyone’s searching for a definition of a Ponzi scheme. Did you know the scam is actually named for a man, Charles Ponzi, who made millions on it back in the 1920’s? A basic definition: An investment scam based on paying early investors with money from later ones, all the while skimming some off for yourself, and eventually everything falls apart. Read More ›

    Scott Lamb 5 years ago respond