Ponzi schemes

Baseball

Mets’ Madoff Victory Is Bad News For Everybody Else

Don't worry about investing in a Ponzi scheme as long as you are smart or lucky enough to recoup your money before the whole thing falls apart. That is the upshot of U.S. District Judge Jed Rakoff's decision to significantly limit the amount of money trustee Irving Picard can seek from New York Mets owner Fred Wilpon. Judge Rakoff's ruling will have a major effect on how much money is ever recovered for victims of Madoff's shenanigans, and could have an effect on the future liability for all investors in Ponzi schemes....

Crime

Breaking: Madoff Sentenced to 150 Years

Bernie Madoff has been sentenced to 150 years. Judge Denny Chin said that the sentence was necessary to deter other people from entering into these kinds of schemes. The Judge apparently said that he was struck that there was no letter written in support of Bernie Madoff. On the other hand, the judge received 141 […]