Halls of Justice

Canadian regulators are taking the next step toward shutting down hedge fund Sextant Capital Management, accused of illegal self-dealing and inflating its returns.

Bernard MadoffBernard Madoff, once one of the most respected men on Wall Street, pleaded guilty today to running the largest Ponzi scheme in history.

Madoff, who has been free on bail, although restricted to his Manhattan apartment, since his arrest in December, was ordered immediately jailed while he awaits sentencing as a flight risk. U.S. District Judge Denny Chin scheduled the sentencing hearing for June 16.

A pair of hedge funds has filed a class-action lawsuit against bond insurer MBIA Inc., seeking to undo its recently announced reorganization.

Ritchie Capital Management is fighting fire with fire: The hedge fund has countersued Polaroid Corp., calling its lawsuit against Ritchie “baseless, irresponsible and malicious.”

They may have won the war, but two activist hedge funds have lost a battle with CSX Corp. and one of its shareholders.

In a move likely to give rise to myriad conspiracy theories, Bernard Madoff is willing to admit that he ripped investors off to the tune of billions of dollars—and face spending the rest of his life in prison—but he is not willing to admit that he had help doing so.

Bernard Madoff, the New York financier and hedge fund manager accused of orchestrating a $50 billion Ponzi scheme, will plead guilty this week to fraud charges, his lawyer said yesterday.

Bernard Madoff, accused of orchestrating the largest Ponzi scheme in history, is expected to plead guilty to charges stemming from the alleged $50 billion fraud later this week.

A week after he was arrested and charged with securities fraud, four investors have sued hedge fund manager James Nicholson.

Accused hedge fund fraudster Arthur Nadel has been given more time to find a lawyer to defend him against civil charges leveled by the Securities and Exchange Commission.