Blog
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.
Nicholas Cosmo
Cosmo is being charged with mail fraud in what could be a $380M Ponzi scheme. Cosmo is the founder of Agape World Inc. A company that is claimed to have been started in 1999, a year that Cosmo was in prison for misappropriating funds. While in prison it is reported...
Zsa Zsa Gabor
Zsa Zsa Gabor, a former actress, is reported to have lost more than $7M in the Madoff Ponzi scheme. Gabor is the newest addition of Hollywood stars to be engulfed by the case. Others include: "A foundation run by the Oscar-winning film director Steven Spielberg,...
Arther G. Nadal
According to Bloomberg.com one of the funds was earning 32% annual returns between 2000 and 2006. The article also notes that Mr. Nadal was disbarred in New York in 1982, being found guilty of dishonesty, fraud, deceit, and misrepresentation.
Marcus Schrenker
This NYTIMES.COM article gives a great summary of Marcus Schrenker, who was arrested last week after trying to fake his death and jumping out of his own plane. The picture below pretty much says it all.
Update in Satyam case has founder fleecing and blaiming the company books
B. Ramalinga Raju may have taken up to $1B from the company rather than the initial claim that the company had made up the money. "Mr. Raju, who was Satyam’s chairman, said in a letter to the company’s board on Jan. 7 that about $1 billion of the company’s cash...