fbpx

Madoff trustee seeks $19.6 billion from Austrian banker

A prominent Austrian banker who portrayed herself for two years as one of Bernard L. Madoff’s biggest victims was accused on Friday of conspiring for 23 years to funnel more than $9 billion into his immense global Ponzi scheme.
[additional-authors]
December 11, 2010

From NYTimes:

A prominent Austrian banker who portrayed herself for two years as one of Bernard L. Madoff’s biggest victims was accused on Friday of conspiring for 23 years to funnel more than $9 billion into his immense global Ponzi scheme.

The accusations were made in a civil lawsuit that sought damages of $19.6 billion — the sum of the cash lost in a fraud that wiped out nearly $65 billion in paper wealth and ruined thousands of investors on almost every rung of the economic ladder.

The central defendant in the complaint is Sonja Kohn, who was the hub of a complex network of European and Caribbean funds that channeled money to Mr. Madoff. A well-connected banker in her native Vienna, Ms. Kohn insisted she never suspected her trusted friend was running a global Ponzi scheme.

Read more at NYTimes.com.

Did you enjoy this article?
You'll love our roundtable.

Editor's Picks

A Night of Gratitude Honoring Dennis Prager

Latest Articles

The View from Israel

Three years after Oct. 7, Israel is still waiting for a full accounting of what went wrong.

Remember and Be Grateful

Memory is the mother of gratitude. If we do not remember our past, it is difficult to improve our present or build a better future.

From Atop the Pulpit

New opportunities and challenges have always come and gone. But pulpit clergy with their years of training, education and perspective on life, generated from atop the pulpit, are especially well suited for whatever lies ahead.

A Different Kind of Tower

The Tower of Babel reminds us how easily language can divide us. Our shared history reminds us of what becomes possible when we find ways to understand one another.

Paris on Fire, America on Edge and the Generation of the Flood

What is especially troubling to me is that at many of these protests in France you will find signs reading “Intifada Revolution” and “From the River to the Sea, Palestine Will Be Arab,” along with ubiquitous Palestinian flags, and Hamas flags too.

Torah Portion: Lech Lecha

In this parsha, we meet the first hire — employee #1 — of Jew, Inc. a new God-created enterprise that will change everything.

“What is Life Worth?”

Determine how much a man’s life – and death – are WORTH? The man who did this for the 9/11 families!

More news and opinions than at a Shabbat dinner, right in your inbox.