Sentencing, Ponzi Scheme | featured news

A prominent futures-industry executive, Russell Wasendorf Sr., was sentenced to 50 years in prison on Thursday for embezzling from his clients and defrauding banks over nearly two decades.

The brother of imprisoned financier Bernard Madoff was sentenced Thursday to 10 years in prison for crimes committed in the shadow of his notorious sibling by a judge who said she disbelieved his claims that he did not know about the epic fraud.

Former jet-setting Texas tycoon R. Allen Stanford, whose financial empire once spanned the Americas, was sentenced Thursday to 110 years in prison for bilking investors out of more than $7 billion over 20 years in one of the largest Ponzi schemes in U.S. history.

Arch swindler Bernard Madoff will not appeal the 150-year prison sentence he received for masterminding a global multibillion-dollar investment fraud, his main lawyer said on Thursday.

U.S. District Judge Denny Chin sentenced Bernard Madoff on Monday to 150 years in prison, the maximum sentence sought by prosecutors.

Live Blogging | Hearing for confessed Ponzi schemer is underway now in Manhattan.

Bernard Madoff’s lawyer has told a judge scheduled to sentence the disgraced financier next week that 12 years in prison will be sufficient punishment.

The sentencing of convicted Ponzi-scheme operator Bernard Madoff has been postponed about two weeks until June 29.