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.
NEW YORK — Peter Madoff will serve 10 years in prison for his role in his older brother’s multibillion-dollar Ponzi scheme, a U.S. judge said on Thursday.
Peter Madoff, 67, pleaded guilty in June to criminal charges including conspiracy to commit securities fraud for falsifying the books and records of the investment advisory company founded by his brother, Bernard Madoff.
I am deeply ashamed of my conduct. I accept full responsibility for my actions
Thousands of accounts were reportedly affected after apparent fraudsters targeted the bank’s clients, with customers taking to social media to alert the bank, reports The Independent.
One man tweeted his available balance had dropped by £700 without him making a transaction while another said the disruption had left her “unable to feed my kids in school tomorrow”.