Wednesday, 20 August 2014
Last updated 2 hours ago
Feb 9 2009 | 1:05pm ET
Bernard Madoff has reached a settlement with the Securities and Exchange Commission that could eventually force him to pay a fine and repay the victims of his alleged $50 billion Ponzi scheme, if he has any assets left.
The SEC submitted a proposed partial judgment in its civil case against the accused fraudster today, imposing a permanent injunction and continuing relief, including an asset freeze. Madoff consented to the judgment without admitting or denying the allegations.
Under the terms of the settlement, exactly what, if anything, Madoff will be ordered to pay will be decided at a later date. Madoff has waived his right to contest the facts of the complaint, which will be used to determine the disgorgement, prejudgment interest and civil penalty against him.
The SEC suit against Madoff was brought on Dec. 11, the day Madoff was arrested.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note