Jan. 4 (Bloomberg) -- The Treasury Department’s inspector general has threatened to punish JPMorgan Chase & Co. for failing to turn over documents to regulators investigating the bank’s ties to Bernard Madoff’s Ponzi scheme.
The court-appointed trustee in Bernard Madoff Ponzi case has accused the owners of the New York Mets baseball team of reaping $300 million in profit from the scheme, according to documents unsealed Friday.
Major banks are preparing for two days of unprecedented uncertainty by stuffing cash machines full of money, placing senior bankers on high alert in emergency war rooms around the City and switching off computer-driven “black box” trading systems to avoid incurring huge losses in violent swings in shares, bonds and currency markets reports The Guardian.
Two weeks after police raided the homes of Lev Tahor members in both Quebec and Ontario, partially unsealed search warrants detail an investigation into allegations of physical and psychological abuse against children in the fundamentalist sect, including reports of teen girls being confined in basements and youngsters being removed from their biological parents.
NEW YORK — Madoff did not do it alone.
That is the message prosecutors will pound home as five of Bernard Madoff’s long-time employees go on trial this week accused of enabling his US$65 billion Ponzi scheme.
Madoff pleaded guilty in 2009 to defrauding investors at Bernard L. Madoff Investment Securities LLC, which imploded in late 2008. He is serving a 150-year prison sentence.
Madoff said he acted alone, but prosecutors have since charged 15 of his associates.