Thursday, 2 April 2015
Last updated 53 min ago
Sep 2 2011 | 11:11am ET
The trustee in the Bernard Madoff Ponzi scheme has sued six financial services companies, seeking more than $200 million over transfers made to Madoff feeder fund Fairfield Greenwich Group.
Irving Picard filed suit against Barclays, Sumitomo Mitsui Trust Holdings, Korea Exchange Bank, Cathay Life Insurance co., Banque Privee Espirito Santo and Banca Carige. The six firms all transferred customer property to Fairfield's Fairfield Sentry Fund, one of the largest feeder funds to Madoff's $65 billion scam.
Picard wants Barclays to pony up $67.4 million. Tokyo-based Sumitomo could be on the hook for $54.3 million, KEB for $33.6 million, Taipei, Taiwan-based Cathay for $41.7 million, Lausanne, Switzerland-based BPES for $11.4 million and Italy's Banca Carige for $10.5 million.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…