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Tag: Bernard Madoff

  • ANNIVERSARY EVE: Message That Altered Lives Appeared On AdSurfDaily Website One Year Ago Tomorrow

    It was before Bernard Madoff and before Sir Allen Stanford. President Obama was candidate Obama. Sarah Palin, the little-known governor of Alaska, would not become part of the public consciousness for nearly another month. Few people had heard of the so-called “Arby’s Indians.” Fewer yet could instantly place Uruguay or Panama on a map or…

  • Read The National Futures Association Report On Paul Greenwood And Stephen Walsh; Association Asserts Hundreds Of Millions Of Dollars Unaccounted For Amid Suspensions

    We’ve previously pointed out that, in recent times, some of the actions filed against financiers and fund managers — and the findings of investigators — have read like works of fiction. On Friday, for example, Irving Picard, the trustee in the Bernard Madoff case, asserted that Madoff appears not to have purchased securities for customers…

  • DISCUSSION THREAD: CEP Judgments, Ponzis And The Deaf, Noobing, Andy Bowdoin, Surf’s Up, BizAdSplash Surf, More

    UPDATE 2:49 P.M. EST (U.S.A.) At a gathering of creditors today, Irving Picard, the trustee overseeing the liquidation of Bernard L. Madoff Investment Securities, said he could find no evidence that Madoff even purchased securities for customers in the past 13 years. Cash came in — and immediately went out — to sustain the Ponzi,…

  • EDITORIAL: Cancel Their Ponzi Ticket, Sen. Leahy

    Four more U.S. banks failed yesterday. Three failed on the previous Friday. Thirteen have failed year-to-date. To say this is unsettling is to grossly understate the severity of the banking problem and the drag on the U.S. and world economies. Stories about Ponzi schemes and mortgage fraud are in the news daily. The obvious fear…

  • Reports: U.S. Regulators Probing Bank In Antigua

    Multiple media outlets — including Bloomberg News, the Associated Press and Business Week — are reporting that the Securities and Exchange Commission, the Financial Industry Regulatory Authority and the Florida Office of Financial Regulation are investigating Stanford Financial Group. At issue is the extraordinary rate of return advertised by Stanford International Bank Ltd. (SIB), an…

  • Bowdoin/Madoff Comparison: Is It Fair?

    Last night we received a note from a reader who had a bone to pick: He advised us, seemingly politely, that ASD was not an “autosurf.”  Rather, he said, it was a “manual surf.” There was a whiff of passive-aggressiveness in the note: He informed us that he did not desire to “address your blog”…

  • Seniors In Gallery Of Ponzi Rogues; Grandpa Breaks Bad

    We noted Sunday that a startling number of senior citizens have been implicated in Ponzi schemes or accused of monumental financial misdeeds. Featured in this graphic are (left to right): Andy Bowdoin, president of fundamentally defunct AdSurfDaily Inc. of Quincy, Fla.; Bernard Madoff, head man at fundamentally defunct Bernard L. Madoff Investment Securities of New…

  • ASD: Spending Spree Coincided With 2-for-1 Las Vegas Rally

    Less than two weeks after a May 31 AdSurfDaily rally concluded in Las Vegas, ASD funds were used to retire a $157,000 mortgage. Another $62,000 was used to purchase two cars — a 2008 Honda CRV and a 2009 Acura, federal prosecutors said. The beneficiaries of the mortgage retirement and the Honda were George and…

  • Madoff Bail Restrictions Tightened, But He’ll Stay Home

    It must have been a worrisome weekend for Bernard Madoff. Madoff, accused of masterminding a $50 billion Ponzi scheme that has affected investors worldwide, found out Friday that a federal judge planned to rule today whether to revoke his bail and jail him in response to prosecutors’ court pleadings. The judge now has ruled —…

  • Prosecutors Turn Up The Heat On Madoff

    Ponzi schemes almost always have insiders, and sometimes the insiders may not even know they’re insiders. In an extraordinary revelation, federal prosecutors said this afternoon that Bernard Madoff took overt steps to distribute bonuses to preferred family,  friends and employees after he realized the Ponzi he created was crashing down around him “[When] the defendant’s…

  • RateMyVanity.com, Inspired By Madoff Attire, Coming Soon; Readers Will Rate Newsmakers’ Vanity

    RateMyVanity.com covers news from the worlds of entertainment, media, politics, business and sports, asking readers to rate how they perceive the vanity of newsmakers. Select stories will include a vanity poll. Read the News Release. The site was inspired by the Bernard Madoff case, particulary the garb he selected on the date of one of…