Ponzi Scheme News
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Three men who claimed they had special access to Facebook Inc. shares before its initial public offering last year were charged with defrauding an investor of $6.7 million.
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JPMorgan Chase & Co., the biggest U.S. bank, was warned by federal energy-market regulators that its personnel and two subsidiaries may face claims stemming from a probe into bidding practices.
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The Bretton Woods economic conference would make a great movie: Dashing celebrity economist John Maynard Keynes of the U.K. squared off against U.S. Treasury official Harry Dexter White, who was later revealed to be a Soviet spy.
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HSBC Holdings Plc, custodian of a fund that lost about 1.1 billion euros ($1.5 billion) through Bernard Madoff’s Ponzi scheme, said liability rules for banks in Europe weren’t as strict at the time of the scandal surrounding the convicted fraudster.
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The Bernard Madoff brokerage liquidator appealed a federal judge’s ruling that blocked his move to stop New York Attorney General Eric Schneiderman from completing a $410 million settlement with J. Ezra Merkin.
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Liquidating Bernard L. Madoff’s defunct brokerage has cost $774.8 million, including lawyers’ and consultants’ fees and expenses of $737.1 million, the trustee for the firm said in a report.
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Four years after Bernard Madoff pleaded guilty to running the largest Ponzi scheme in history, investors are still trying to get their money back.
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Morrison & Foerster LLP announced leadership changes, appointing San Francisco partner Brandon Parris and Tokyo partner Randy Laxer as co-chairmen of the corporate department and New York partner Gary Lee and Tokyo partner Dale Caldwell to lead the finance group.
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JPMorgan Chase & Co., Goldman Sachs Group Inc. and other U.S. swap dealers would gain limits on the Dodd-Frank Act’s reach for overseas trades under a Securities and Exchange Commission proposal released yesterday.
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Across the Standard & Poor’s 500 Index of companies, the average multiple of CEO compensation to that of rank-and-file workers is 204, up 20 percent since 2009, according to data compiled by Bloomberg. The numbers are based on industry-specific estimates for worker compensation.
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