SEC Watchdog To Report On Becker-Madoff Link By October

The Securities and Exchange Commission’s internal watchdog said it will issue by October the findings of a probe into whether the agency’s former top lawyer violated ethics rules by working on matters related to Bernard L. Madoff’s Ponzi scheme even though he inherited money linked to the fraud. Read more on [...]

Rep. Ackerman issues Press Release H.R. 1987


Measure would prohibit clawing back money from victims, provide insurance for indirect investors and credit defrauded investors with the time value of money, among many provisions.

Another Rothstein defendant accused of fraud turns himself in

Another defendant criminally charged in connection with Scott Rothstein’s massive investment fraud turned himself into federal authorities Tuesday morning for his initial court appearance. Read more in the Sun Sentinel [...]

Accounting Giant BDO Sued for Aiding and Abetting

In $7.2 Billion Stanford Financial Broup Ponzi Scheme.
Auditor Materially and Maliciously Co-Conspired with the Stanford Financial Group
to Facilitate and Perpetuate the Second Largest Ponzi Scheme in History.

A class-action lawsuit filed Friday in U.S. District Court seeks to recover more than $7 billion from BDO International, the world’s fifth largest network of independent public accounting firms, for its critical role in the Stanford Financial Group Ponzi scheme
Beginning in 1995, BDO provided audit, tax and other professional services to the Houston-based Stanford Financial Group of Companies (SFG), including Stanford Group Company (SGC), an SEC-registered broker dealer and investment advisor that once had more than 30 offices throughout the U.S.; Stanford Trust Company (STC) in Baton Rouge, Louisiana; Stanford Fiduciary Investor Services (SFIS) in Miami, Florida; and Stanford International Bank, Ltd. (SIBL), an offshore bank chartered and domiciled in Antigua.
In February 2009, the Securities and Exchange Commission alleged SFG had engaged in “massive, ongoing fraud” and took the global network of companies into receivership.
Click here for Complaint [...]

Madoff Trustee and Mets Owners Differ on Issue of Cooperation

Among the points that the owners of the Mets have been most insistent about in their legal fight with the trustee for the victims of Bernard L. Madoff’s fraud has been their claim to have been completely forthcoming during the trustee’s investigation of their finances. Read NY Times article [...]

Madoff Victim Seeks Divorce Do-Over

After 33 years of marriage, Steven Simkin and Laura Blank divorced in 2006. They agreed to split their considerable wealth equally. She got the apartment on the Upper East Side; he got the house in Scarsdale, N.Y. Read more in NY Times DealBook [...]

Why men are easy prey for investment scams

Know if you’re vulnerable to fraud and protect yourself. Read Robert Powell’s MarketWatch article [...]

H.R. 1635 – New Co-sponsor

Congressman Howard Coble [R-NC6] joins cosponsorship of H.R. 1635 – Ponzi Scheme Victims’ Tax Relief Act of 2011. [...]

Fairfield Officials, Bank Customers Push Madoff Claims

In the scheme of things, the $42 million that the town of Fairfield says it lost in Bernie Madoff’s $20 billion investment swindle may seem like a drop in the bucket. But it’s big bucks for the town, where officials are continuing their fight for it. Read more in the Connecticut Law Tribune [...]

H.R. 757 New Co-Sponsor

Representative Thomas Marino of Pennsylvania joins co-sponsorship of H.R. 757 – Equitable Treatment of Investors [...]