Senator Joel Anderson has introduced legislation that would require the state to allow net operating loss carryovers for victims of investment fraud as well as other features that would be of great benefit to those who are victims.
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Senator Joel Anderson has introduced legislation that would require the state to allow net operating loss carryovers for victims of investment fraud as well as other features that would be of great benefit to those who are victims. Irving H. Picard, the Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (“BLMIS”), today filed his opposition brief in the United States Bankruptcy Court for the Southern District of New York against the motion by Sterling Equities (“Sterling”), its partners, their family members, and certain related trusts and entities (the “Sterling Defendants”) seeking either the dismissal of the Trustee’s complaint against them or summary judgment. Read Press Release here. A Memorandum of Law of the Securities Investor Protection Corporation in Opposition to Sterling Defendants’ Motion to Dismiss the Amended Complaint was filed May 19th — Click here to read [...] Irving Picard, the court-appointed trustee redistributing pieces of Bernard Madoff’s collapsed Ponzi scheme, expanded Thursday on an allegation in his billion-dollar lawsuit against the owners of the Mets, claiming that Fred Wilpon and Saul Katz went “shopping” for fraud insurance in 2001 and therefore knew Madoff was corrupt, a claim the owners immediately denied. Click here for Daily News report. Banque Syz & Co. was sued for $73.3 million by the trustee liquidating Bernard L. Madoff’s firm. After spending years saving for retirement, the last thing you want is to lose your hard-earned money to a huckster who cons you out of your cash. But how can you avoid having your savings decimated by a Ponzi scheme or other fraud, like those perpetrated by Bernie Madoff and Kenneth Starr? Read CBS MoneyWatch report [...] Lawyers representing Fairfield, Conn., asked the state’s Appellate Court on Thursday to reverse a lower court ruling that the town cannot make claims for losses due to disgraced financier Bernard Madoff’s fraud. A member who had the opportunity to attend the May 13th Oversight and Investigations Hearing on “The Stanford Ponzi Scheme: Lessons for Protecting Investors from the Next Seucrities Fraud”, has been kind enough to summarize his observations below:I’ve been lobbying my Congressman, Mike Fitzpatrick, for quite some time now so when he invited my mother and me to Washington for the Subcommittee on Oversight and Investigations hearings on “The Stanford Ponzi Scheme: Lessons for Protecting Investors from the Next [...] Staff at the London office of Hogan Lovells were in shock after the dismissal of Christopher Grierson, a senior partner earning more than pound stg. 800,000 a year. He was confronted by executives early last week after an internal investigation and is understood to have admitted making false claims. Read article in the Australian [...] The court-appointed trustee and others seeking money for Bernard Madoff’s customers were paid $318.4 million through March — more than the sum available to be paid out to the victims. Read Chicago Tribune article [...] |
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