Tuesday, 2 September 2014
Last updated 9 hours ago
Aug 23 2013 | 5:44am ET
If some of the five former Bernard Madoff employees set to face trial on fraud charges in October were involved in a love triangle, they’d like to know about it.
In a revised indictment last week, prosecutors alleged that “one of the defendants was involved in a love triangle with Bernard Madoff himself” and that others were involved “in romantic and/or sexual relationships” with one another. This may be news to the five of them, who have now asked for more details on the allegations.
“We still have no information regarding the timing and duration of the relationships or the source of the information, and these facts are critical to the defendants’ decision whether or not to cross-examine the government’s witnesses concerning the allegations,” their lawyers wrote in a filing yesterday.
“While the government identified certain relationships, there is still another relationship not embraced by the government’s motion and about which it presumably wishes to introduce as evidence at trial.”
That trial will determine whether former Madoff operations director Daniel Bonventre, Madoff secretary Annette Bongiorno, Joann Crupi, who handled the firm’s daily cash balances, and computer programmers Jerome O’Hara and George Perez are criminally liable for assisting in Madoff’s $65 billion Ponzi scheme.
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…
The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...