Securities and Exchange Commission v. Peter Madoff, 12-Civ-5100 (S.D.N.Y.) SEC CHARGES PETER MADOFF WITH FRAUD AND FALSE STATEMENTS TO REGULATORS June, 2012: Recently, the Securities and Exchange Commission charged Peter Madoff, the brother of Bernie Madoff, with committing fraud, making false statements to regulators, and falsifying books and records in…
December, 2011: The Securities and Exchange Commission recently charged a longtime Bernie Madoff employee with falsifying books and records in order to hide Madoff’s fraudulent investment advisory operations from regulators. The SEC alleges that Enrica Cotellessa-Pitz, who worked at Bernard L. Madoff Investment Securities LLC (BMIS) for more than 30…
November, 2011: As part of the continued fallout relative to the Madoff fraud, the Securities and Exchange Commission (SEC) charged a longtime Bernie Madoff employee with fraud for his role in creating fake trades to facilitate the massive Ponzi scheme. The SEC alleges that David Kugel, who worked at Bernard…
While this post does not relate exclusiverly to the Madoff situation that has impacted so many people throughout the country, legislation that would have provided tax breaks to Ponzi scheme victims failed to make it out of committee. While support for companion bills HR 5058 and S 3166 had continued…
Lehman Brothers/Ernst & Young: The fall-out from the Madoff fraud continues. New York Attorney General Andrew Cuomo sued Ernst & Young, saying the accounting firm helped Lehman Brothers Holdings take actions to deceive the public about Lehman’s financial condition. “This practice was a house-of-cards business model designed to hide billions…
Madoff News: December 17, 2010: A machinery manufacturer last week sued New York Life Insurance Co., claiming it had lost money in variable universal life policies that were invested in funds linked to the Madoff scandal. Experts say similar suits are likely to follow. Cummins Inc. filed a lawsuit Dec.…