Tuesday, 22 July 2014
Last updated 21 hours ago
Aug 9 2010 | 11:20am ET
Federal prosecutors are going after $5.1 million in assets owned by a long-time employee of Ponzi schemer extraordinaire Bernard Madoff.
The U.S. Attorney’s office in Manhattan filed an amended forfeiture claim against Annette Bongiorno, who began working for Madoff in 1968 and eventually rose to head his firm’s back-office staff. Among the assets the government may seek are Bongiorno’s homes in suburban New York and Boca Raton, Fla., and three cars owned by Bongiorno and her husband, two Mercedes Benzes and a Bentley.
Prosecutors filed the first forfeiture claim against Bongiorno, seeking $2.4 million, in June. They are also seeking a similar amount from another former Madoff employee, Joann Crupi.
Madoff is serving 150 years in prison for defrauding investors of $65 billion.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…