Ponzi Scheme | featured news

A son of disgraced Wall Street financier Bernard Madoff called authorities in a panic after receiving a text message he thought was a suicide note from his dad months after his December 2008 fraud scheme arrest, a new book says....

Disgraced financier Bernie Madoff has told an interviewer he has terrible remorse and horrible nightmares over his epic fraud, but also said he feels happier in prison than he's felt in 20 years.

In an interview with “60 Minutes,” scheduled to air on Sunday, Ruth Madoff says she and Bernard Madoff attempted suicide two weeks after the Ponzi scheme was exposed in 2008.

"The End of Normal: A Wife's Anguish, A Widow's New Life" gives an intimate account of Mark Madoff's two years of torment over the infamous swindle that wiped out thousands of his investors and — by his wife's account — left him a man broken beyond repair. The book vilifies her father-in-law "Bernie" while calling her husband an innocent bystander and "hero" for turning him in.

Former Securities and Exchange Commission General Counsel David Becker had a conflict of interest when he handled Bernard Madoff legal matters for the SEC and should be criminally investigated, the agency's watchdog said on Tuesday.

U.S. securities brokers would be more closely scrutinized by accountants and be subject to stricter rules for how they handle their customers' assets under a plan proposed by federal regulators on Wednesday.

HSBC agreed on Tuesday to pay $62.5 million to settle class action claims by investors in a fund that had invested with Bernard L. Madoff.

Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable.

Citigroup Inc saw several red flags in the dealings of Bernard Madoff's firm years before his multibillion-dollar fraud was exposed in late 2008, the firm's liquidator said in a newly unsealed lawsuit.

A frail Bernard Madoff, facing the rest of his life in prison, said a variety of banks and hedge funds were complicit in and "had to know" about his epic Ponzi scheme before it was uncovered, The New York Times reported.