Blog
Taxes Paid on Earnings from Ponzi Scheme
This NPR story discusses the interesting issue of what to do with money paid for taxes on earnings that didn't actually exist. "The IRS has been the biggest beneficiary of Madoff's fraud." It'll be interesting to see if anything comes back from...
Where did Madoff’s funds go?
One problem that is yet to be solved in this case is restitution to those investors who lost a lot. In reality there are people who made a lot of money with Madoff, taking out more money than they put in. Should they have to payback those funds? "What if they...
Marvin R. Cooper
Marvin R. Cooper allegedly targeted members of the deaf community in a Ponzi scheme that raised $4.4M dollars. The SEC said that Cooper's company, Billions Coupons, held seminars at Community Centers where deaf people were targeted. The SEC claims that Cooper took...
Joseph Nacchio
The ex-CEO of Qwest Communications International Inc., Joseph Nacchio was fired from his post after the discovery of $2.5B in improperly booked revenue. After his court of appeals hearing, Nacchio's 19 counts of insider trading were confirmed. This means that he...
Paul Greenwood and Stephen Walsh
Greenwood and Walsh are charged with conspiracy, securities fraud and wire fraud in an estimated $553M fraud. The misappropriated funds were used to fund a lavish lifestyle, raising show horses and collecting rare items. Between January 1995 and September 2008 the...
Allen Stanford
Allen Stanford is being charged with a "massive ongoing fraud" in relation to $8B of CDs that were sold to investors with promised returns exceeding 8%. There were 30,000 CDs sold in 131 countries. The full Reuters article can be read here.
Victor Teicher
The NTIMES.com article Imprisoned Felon Was Adviser to Madoff Investor shows that Victor Teicher, a convicted felon, was a money manager for a firm that invested $2B of its clients' assets with Madoff.
Fannie Mae Eases Credit To Aid Mortgage Lending
Fannie Mae Eases Credit To Aid Mortgage Lending By STEVEN A. HOLMES Published: September 30, 1999This story is from the archives. Enjoy.