The Federal Reserve this month will take a step toward revealing more about its oversight of the financial system, an area where the central bank has yet to match the strides it has taken toward transparency in monetary policy.
The Bernard Madoff trustee, who will try to reinstate hundreds of lawsuits through an appeal to be argued March 5 in Manhattan, had his chances of success dealt a blow last week when the U.S. Supreme Court decided a case involving R. Allen Stanford’s Ponzi scheme.
The woman who ran Bernard Madoff’s investment advisory business admitted she didn’t tell federal investigators in 2009 that her duties included backdating trades and turning stocks into bonds with a few pen-strokes.
Bernard Madoff’s earliest investors, including two who reaped billions of dollars from the con man’s Ponzi scheme, allowed him to add backdated losses to their accounts whenever the profit was too high, a former executive on trial for fraud said.
Victims of R. Allen Stanford’s $7 billion Ponzi scheme can sue outside companies and law firms alleged to have played a role in the fraud, the U.S. Supreme Court ruled, dealing a setback to the securities industry.
The woman who ran Bernard Madoff’s fraudulent investment advisory business broke into tears as she told a jury how the con man shouted and threw her out of his office for trying to retire in the mid-1990s.
Annette Bongiorno, who ran the investment advisory business at the center of Bernard Madoff’s $17 billion Ponzi scheme, told a jury she backdated customer trades almost every day and didn’t realize it was wrong.
JPMorgan Chase & Co., the lender whose legal and regulatory battles led to more than $23 billion in settlements in 2013, said Chief Compliance Officer Cindy Armine left to join another firm after a year on the job.