Sunday, 21 September 2014
Last updated 1 day ago
Jul 2 2009 | 3:52am ET
While more indictments are expected in the Bernard Madoff Ponzi scheme case, the convicted fraudster’s wife will apparently be spared.
Ruth Madoff, who last week struck a deal with prosecutors allowing her to keep $2.5 million in cash in exchange for her forfeiting claims to more than $80 million in assets, will not be criminally charged, at least for the time being. The probe of her husband’s $65 billion Ponzi scheme has not uncovered any physical evidence that Ruth Madoff either participated in or concealed the scam, the New York Post reports.
The 68-year-old has denied any involvement in her husband’s crimes, and said after he was sentenced to 150 years in prison this week, said she was “betrayed and confused” by his actions.
While there appears to be insufficient evidence to charge his wife, investigators do not believe that Bernard Madoff acted alone and are still probing whether other family members or associates helped him run the massive fraud. According to the Associated Press, at least 10 other criminal indictments are likely in the case.
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.