The largest settlement to date in the Bernard Madoff multi-billion dollar Ponzi scandal has been approved by a U.S. judge today, the Los Angeles Times reports.
Last Friday, the publisher of a promising real estate newsletter called Sonar Report rose before dawn, scoured the news to gather items for that day’s edition and, at 9:04 a.m., sent it out to his e-mail subscribers. Unknown to almost all of his subscribers, that publisher was Mark David Madoff, the older son of the convicted swindler Bernard L. Madoff.
The estate of one of the largest beneficiaries of Bernard Madoff’s multibillion dollar Ponzi scheme, Jeffry Picower, has agreed to return $7 billion to Madoff’s victims. The figure is the difference between the amount of cash that Picower, a Jewish investor, put into his account with Madoff and the amount that he withdrew, The New York Times reported. The deal was set to be announced at a news conference on Friday.
With Mark Madoff’s suicide over the weekend, we witnessed the burden of a father’s sins. The Madoff Family’s tragic narrative reinforces why a person’s legacy truly matters. To expand on this teachable moment, JInsider looked to better understand personal legacy through the perspective of Jewish wisdom. (See full video discussions on www.jinsider.com)
When Bernard Madoff’s multibillion-dollar Ponzi scheme first came to light two years ago, several Jewish organizations suffered heavy losses, their assets devastated by the fraud. Now with the filing of lawsuits by the trustee for Madoff’s estate, it is the winners — the Jewish organizations that inadvertently benefited from the scheme — that are at risk of losing money. Among them are:
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.
Sheryl Weinstein, the high-profile victim of Bernard Madoff claiming to have had an affair with the confessed swindler, kicked off her book tour Tuesday with an appearance on ABC’s “Good Morning America.”
Madoff, who is serving 150 years at a North Carolina federal prison after pleading guilty to swindling more than $65 billion, has been telling fellow inmate he doesn\’t have much longer to live.
Of all the shocks of the Bernie Madoff heist, perhaps none was more stunning than the list of victims. Among them were several Jewish foundations and many of our community’s most prominent nonprofits. The losses were staggering, and in some cases crippling.
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