Some soul searching and risk aversion likely contributed to the owners of the New York Mets, Fred Wilpon and Saul Katz, agreeing to pay $162 million to victims of convicted felon Bernard Madoff. In exchange, all Madoff-related claims against Wilpon and Katz will be dropped and a trial that had been scheduled for today will never occur. The settlement also provides that Wilpon and Katz will not have to begin payments for three years, that they can draw from the $178 million in claims they have against Madoff's estate and that the two Mets owners will only be personally liable for a fraction of the $162 million (reportedly about $29 million).
A federal court jury in Houston found former financier R. Allen Stanford guilty Tuesday on 13 of 14 counts of running a Ponzi scheme.
The owners of the New York Mets may already owe the trustee in the Bernard Madoff case up to $83.3 million -- and they could owe $300 million if they lose in a court case that begins this month.
Prosecutors and the defense have rested in the fraud trial of Texas financier Robert Allen Stanford, who is accused of running a $7 billion Ponzi scheme.
In another blow to the trustee in the Bernard Madoff case, a federal judge threw out a $20 billion lawsuit attempting to recover more of the stolen funds.
In a win for the owners of the New York Mets, a federal judge on Tuesday upheld an earlier court decision that placed limits on the amount of money that the trustee in the Madoff case can seek.
A federal district court judge in New York has delivered some more bad news to thousands of investors who lost money to Ponzi schemer Bernard Madoff.
The court-appointed trustee in the Bernard Madoff Ponzi case has hatched a $326 million settlement with the Internal Revenue Service.
The Securities and Exchange Commission said Friday that it had disciplined eight employees for their failure to detect the infamous Madoff Ponzi scheme, a major embarrassment for the agency.
Two investors who lost their money to Bernard Madoff are suing JPMorgan Chase for $19 billion, accusing the firm of aiding and abetting the Ponzi schemer.
Banks trying to stave off huge pay outs over the Bernard Madoff mess have scored a key win in court.
Some of Bernie Madoff's victims say they feel the public is conned every time one of the Madoff family members speaks.
The son and wife of convicted stockbroker Bernie Madoff said they had no inkling he was running a $50 billion Ponzi scheme until he came home on a December night three years ago and gathered the family together.
The media resurfacing of Bernard Madoff and his family has many victims of the notorious Ponzi schemer incensed over the attention being given to the man responsible for wiping out their life savings.
Ruth Madoff says she and her husband attempted suicide as public outrage mounted over Bernard Madoff's infamous $50 billion Ponzi scheme, the largest in U.S. history.
Nearly three years after Bernard Madoff's Ponzi scheme unraveled, his victims are getting their first piece of the stolen funds.
A federal judge dismissed most counts of a $1 billion suit against the owners of the New York Mets baseball team Tuesday that stemmed from the club's involvement in Bernie Madoff's Ponzi scheme.
Federal prosecutors on Tuesday accused executives at the online site Full Tilt Poker of operating a Ponzi scheme, siphoning more than $440 million in gamblers' winnings to board members and owners.
The Bernard Madoff Ponzi scheme continues to haunt the Securities and Exchange Commission.
The New York Mets missed out on a $200 million home run when their investment deal fell through with hedge fund guru David Einhorn.
Rick Perry is not a fan of Social Security -- or is he?
Even after the man who stole 67-year-old Frances Wills' entire life savings was sentenced to nine years in prison, she still didn't feel as if justice had been served.
A federal judge will hear arguments Friday on whether the owners of the New York Mets baseball team should have to forfeit $1 billion for their connection to Bernard Madoff's Ponzi scheme.
A federal judge shot down an appeal from investors in Bernard Madoff's scheme, dismissing their opinion that they're entitled to the amount of money that the Ponzi schemer said they were worth.
If you've ever dreamed of turning the tables and taking Bernie Madoff to the cleaners, here's your chance. John Vaccaro, a New York entrepreneur, is selling iPad covers made from the disgraced financier's tailored clothes.
The court-appointed trustee in the case of Ponzi schemer Bernard Madoff announced that a settlement for $1 billion has been reached with the Tremont Group feeder funds.
The trustee in the Bernie Madoff case filed an amended complaint against JPMorgan Chase on Friday, upping the damages sought from $5.4 billion to $19 billion for the bank's alleged role in the Ponzi scheme.
The man who cooked the books for Bernard Madoff pleaded guilty Monday.
The last remaining personal property belonging to Ponzi schemer Bernie Madoff and his wife, Ruth, netted nearly $500,000 in an auction in Miami Beach, Florida, the U.S. Marshals Service said Tuesday.
Bidders got to purchase hundreds of items taken from Bernard Madoff's Palm Beach mansion. WPLG reports.
The New York Mets announced Thursday that it will negotiate with investor David Einhorn for a $200 million minority stake in the financially beleaguered baseball team.
Bernard Madoff's taste in wine may not have been the most sophisticated, but buyers were more than willing to pay big bucks to own a piece of the disgraced financier's liquor cabinet.
What does it cost to clean up after the biggest swindle ever?
Some of the people who lost money in the Bernard Madoff Ponzi scheme, but had been shut out of any recovery of their funds, are a step closer to getting at least something back.
The trustee in charge of recovering money stolen by Bernard Madoff took steps Wednesday to begin payments to victims totaling $272 million.
The lawyers trying to clean up the mess left behind by Bernard Madoff's Ponzi scheme asked a judge for another multi-million dollar payday.
The federal bankruptcy court judge presiding over the Bernard Madoff case has revealed the JPMorgan Chase employees who allegedly suspected they were doing business with a Ponzi schemer.
Getting the money back from Bernard Madoff is only half the battle for Irving Picard, the trustee in charge of recovering assets stolen in the world's most notorious Ponzi scheme.
The owners of the New York Mets fought back Sunday against the court-appointed trustee in the Bernard Madoff Ponzi case, saying his suit to recover $1 billion from them is a "work of fiction."
The court-appointed trustee in the Bernard Madoff Ponzi case is now seeking to recover $1 billion from the owners of the New York Mets baseball team, alleging a much deeper relationship than had been previously disclosed.
Three former executives at an Ohio financial company were indicted Wednesday on charges of defrauding investors of more than $200 million, according to Timothy Morrison, U.S attorney for the Southern District of Indiana.
The trustee seeking repayment for victims of Bernard Madoff's multi-billion dollar Ponzi scheme has been subpoenaed by a House committee looking into the SEC's chief council, who inherited a Madoff investment from his late mother.
The Securities and Exchange Commission chief on Thursday faced angry lawmakers who grilled her about why she let her top attorney work on the Bernard Madoff Ponzi scheme case -- knowing his late mother was a Madoff investor.
The head of the Securities and Exchange Commission warned Congress on Thursday that proposed cuts to the regulator's budget would hurt its ability to do its job watching markets.
The court-appointed trustee charged with recovering assets stolen by Ponzi schemer Bernard Madoff is ready to distribute $2.6 billion worth of recovered funds to the victims.
Victims of Bernard Madoff's Ponzi scheme are infuriated with his latest jailhouse interview, in which he blames his victims for being "greedy."
In his second jailhouse interview, Wall Street scammer Bernard Madoff told a reporter that his victims were "greedy" and the U.S. government is a "Ponzi scheme," though he insisted that he's a "good person."
The court-appointed trustee in the Bernard Madoff case has sued the outgoing top lawyer at the Securities and Exchange Commission for allegedly profiting off the largest Ponzi scheme in history.
'Tis the season of the owner. Forget players. Owners are all the rage in sports. They're threatening to close down the National Football League and the National Basketball Association. In Washington, they're threatening the First Amendment. In New York, the Mets owners are accused of being in cahoots with Bernie Madoff's Ponzi scheme. In Los Angeles, they're even making a fine mess of the Dodgers by getting divorced. I can't recall the last time owners made the tabloids getting divorced. And, incredibly, owners are doing all this without George Steinbrenner being able to contribute a whit to the goings-on.
Bernard Madoff's Ponzi scheme left thousands of victims in its wake -- and lawyers and consultants are reaping millions in payments from the financial devastation.
JPMorgan Chase accused the court-appointed trustee in the Bernard Madoff Ponzi case of overstepping his bounds with his $6 billion lawsuit against the financial services company.
A clawback lawsuit filed on behalf of victims of Bernard Madoff against Mets owner Fred Wilpon and his business partners paints Wilpon not only as a major beneficiary of Madoff's fraudulent scheme, but also one who clearly "knew or should have known" about Madoff's fraud and who selfishly choose to profit from it.
Stocks rose near the end of choppy session Friday, ending the week with gains of more than 2%, as investors looked past a muddy report on the U.S. job market.
The court-appointed trustee in the 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.
U.S. stocks were headed for flat open Friday, after the government's highly-anticipated jobs report showed far fewer jobs than expected were added in January.
JPMorgan Chase executives suspected that Bernard Madoff's investment strategy was actually a Ponzi scheme years prior to its collapse, but did nothing to stop it, according to the court-appointed trustee trying to recove assets stolen by Madoff.
New York Mets chairman and chief executive officer Fred Wilpon is a defendant in two lawsuits that threaten his considerable wealth and pose profound implications for his ball club.
Want to buy a piece of the Mets?
A former aide to Bernard Madoff, who faces charges related to Madoff's massive Ponzi scheme, appeared Friday in U.S. District Court for a pretrial hearing.
The oldest son of convicted defrauder Bernie Madoff hanged himself in his New York apartment. CNN's Joe Johns reports.
$10 billion down ... $10 billion more to go.
Madoff victims might finally get their hands on their stolen billions.
It's a landmark day for victims of Bernard Madoff's Ponzi scheme. A bankruptcy court judge approved the trustee's request to dole out billions of dollars in seized assets to the victims.
A former aide to Bernard Madoff, who faces charges related to Madoff's massive Ponzi scheme, was granted bail Friday, according to attorney Roland Riopelle.
The effort to recover money for victims of Bernard Madoff took a dramatic turn Friday when officials said the widow of one of the Ponzi scheme's biggest beneficiaries had agreed to turn over $7.2 billion.
Sources tell CNN that Mark Madoff, the son of failed financier Bernie Madoff, was found dead of an apparent suicide.
Two years after the arrest of Bernard Madoff, the fallout from his sweeping Ponzi scheme continues to wreak havoc on thousands of victims, whose lives were destroyed by the gargantuan scam.
The court-appointed trustee in the recovery of assets stolen by Bernard Madoff has accused an Austrian banker of being a key player in the Ponzi scheme, suing her for $19.6 billion.
Most of Bernard Madoff's victims have two things in common: a) they'd never heard of the Ponzi schemer before he was arrested nearly two years ago and b) they're not eligible to get any of their money back.
Nearly two years since the arrest of Ponzi schemer Bernard Madoff, hundreds of his victims are in for another nasty blow.
The court-appointed trustee for the recovery of assets stolen by Bernard Madoff has sued UBS AG for $2 billion, accusing the Swiss financial firm of participating in Madoff's Ponzi scheme.
The court-appointed trustee for the liquidation of Bernard Madoff's estate is suing JPMorgan Chase for $6.4 billion for allegedly aiding the most massive Ponzi scheme in history.
The court-appointed trustee liquidating Bernard Madoff's former investment firm has filed a lawsuit against HSBC for $9 billion for allegedly aiding the most massive Ponzi scheme in history.
The trustee overseeing the liquidation of convicted fraudster Bernard Madoff's investment firm has expanded his lawsuit in U.S. bankruptcy court, setting his sights on one group of hedge funds in particular.
If I ask you who the worst hedge fund fraudster is in the world, there's only one name that will spring to mind. The guy who allegedly looted billions of dollars from unwitting victims. The guy who had been accused of fraud for years, though the government failed to properly investigate for years. The guy who is now seemingly showing no remorse while protesting the conditions in prison. The guy who left many of his victims broke and has been beaten while incarcerated.
New York Attorney General Andrew Cuomo filed a lawsuit Tuesday against Bank of New York Mellon's investment advising unit, claiming it defrauded clients and cost them more than $277 million in Bernard Madoff's Ponzi scheme.
One year since the arrest of Ponzi mastermind Bernard Madoff, most of his victims are still trying to recoup their losses.
A major investor in convicted swindler Bernie Madoff's Ponzi scheme drowned in his swimming pool in Florida after a heart attack, his attorney said Monday. The medical examiner's office confirmed the report.
A major investor in convicted swindler Bernie Madoff's Ponzi scheme drowned in his swimming pool in Florida after a heart attack, his attorney said Monday, and the medical examiner's office confirmed the report.
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