Ponzi Scheme | featured news

Stanley Chais, a Beverly Hills money manager for Hollywood's elite who was accused of recklessly plowing nearly $1 billion in client funds to Bernard Madoff, has died.

South Florida Ponzi scheme mastermind Scott Rothstein was sentenced to 50 years in prison on Wednesday for an investment fraud that bilked clients out of more than $1 billion.

The estate of Jeffry Picower, an investor in Madoff's Ponzi scheme who died last fall, is expected soon to pay at least $2 billion to other investors burned by the fraud.

Estate tax battle is latest hit for heirs of real estate tycoon Norman F. Levy.

One investor turned herself into a financial detective to expose the fraud of a $32 million scheme that had people, including her own mother, targeting friends and family for bogus investment returns.

A bankruptcy judge ruled that certain investors in Madoff's Ponzi scheme aren't entitled to recoveries from the fraud.

A former director of operations for imprisoned Ponzi schemer Bernard Madoff's investment firm has been arrested, the FBI said on Thursday.

A disbarred Florida lawyer surrendered to the FBI Tuesday to face charges he ran a Ponzi scheme that bilked investors out of more than $1 billion, federal prosecutors said.

The F.B.I. arrested two computer programmers who worked for Bernard L. Madoff’s investment firm, prosecutors said on Friday.

David G. Friehling pleaded guilty to nine criminal charges carrying a potential prison term of 114 years.