Tuesday, 23 September 2014
Last updated 8 hours ago
Mar 18 2010 | 7:47am ET
Despite a raft of denials from all parties, it seems that Bernard Madoff’s December hospital stay really was due to a prison beating.
The $65 billion Ponzi scheme mastermind spent 11 days in the medical unit of the North Carolina prison he calls home at the end of last year. At the time, both his attorney and prison officials denied that the hospitalization was the result of an altercation with another inmate.
But The Wall Street Journal reports that it was, in fact, a fight that sent Madoff to the infirmary. The fraudster reportedly suffered a broken nose, fractured ribs and cuts to his head and face.
The Journal cited three sources familiar with the situation, including an inmate still at the Butner, N.C., prison, and another who was recently released. The Bureau of Prisons continues to deny that an assault took place, and said that Madoff denied being beaten.
The attacker was an inmate serving time for drug violations, the newspaper reports. One of its sources said the source of the dispute was—surprise, surprise!—money the attacker thought he was owed by Madoff.
Madoff is serving a 150-year sentence.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.