Tuesday, 23 September 2014
Last updated 28 min ago
Jan 18 2011 | 8:14pm ET
Bernard Madoff’s longtime secretary is free on bail again after spending a few weeks in prison.
Annette Bongiorno was freed earlier this month on $3 million bond. She had been jailed—and hauled to New York from her home in Florida—just before Christmas after prosecutors said she had access to $2.4 million in assets they hoped to seize.
But the government now says it has encumbered about $7.6 million of Bongiorno’s assets, leaving her with “insufficient unrestrained assets” to repay the eight co-signers of her bond should she flee. Under the terms of her bails, she is subject to home confinement and must wear an electronic monitoring anklet.
Bongiorno and another longtime Madoff aide, Joann Crupi, were arrested in November and charged with assisting him in running a $65 billion Ponzi scheme. Investigators reportedly found a note written by Bongiorno ordering a Madoff employee to produce phony client statements without argument. Bongiorno and Crupi have also been sued by the court-appointed receiver in the case, who is seeking $20 million from them.
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.