A video of Bernard L. Madoff in 2007 telling a New York conference that fraud on Wall Street was “virtually impossible” may be shown to a jury in the trial of five of the con man’s former employees, a judge ruled.
A 2007 video of Bernard Madoff talking about the “impossibility of committing fraud” on Wall Street doesn’t prove he lied to five of his former aides on trial over his $17 billion Ponzi scheme and shouldn’t be shown to jurors, the U.S. said.
A former Bernard Madoff aide on trial for fraud stemming from the con man’s $17 billion Ponzi scheme helped his own son, who also worked at the company, tackle a drug addiction after he repeatedly fell asleep under his desk, the first defense witness in the case told jurors.
Five former aides to Bernard Madoff on trial accused of taking part in his $17 billion Ponzi scheme argue a 2007 video of the con man telling an audience about the “impossibility of committing fraud” will show his skill at lying, bolstering their claim they were duped into helping him.
A former Bernard Madoff executive on trial for aiding his $17 billion Ponzi scheme should be barred from calling a witness on “corporate psychopaths” to claim he was relentlessly manipulated, prosecutors said.
Five former aides to Bernard Madoff are seen as facing tough odds in trying to convince a New York jury they were innocent bystanders to the con man’s $17 billion fraud, given what one lawyer called the “avalanche” of evidence produced by prosecutors.
JPMorgan Chase & Co.’s $543 million settlement with the trustee for Bernard Madoff’s defunct firm was approved by the judge overseeing its liquidation, ending a case in which thousands of investors accused the bank of turning a blind eye to the U.S.’s biggest Ponzi scheme.
Bernard Madoff victims who withdrew more money from the con man’s firm than they invested -- and were slated for no recovery -- asked to be excluded from JPMorgan Chase & Co.’s $543 million settlement of lawsuits over the fraud so they can sue the bank on their own.
Bernard Madoff added the son of a “key” executive to his payroll even though he didn’t work there, a jury was told in the trial of five ex-employees accused of aiding the con man’s $17 billion Ponzi scheme.
The trustee unwinding Bernard Madoff’s fraud has recovered more than $10 billion for victims five years after the biggest Ponzi scheme collapsed, including $543 million yesterday from Madoff’s bank, JPMorgan Chase & Co.