fraud

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Fugitive Doctor Caught Camping in Italian Alps
Fugitive Doctor Caught Camping in Italian Alps
america's most wanted
Dec 18, 2009 11:21 AM CST

Fugitive Doctor Caught Camping in Italian Alps

Mountain guide leads authorities to Mark Weinberger's tent

(Newser) - A fugitive American doctor accused of widespread fraud and malpractice was found and arrested this week on a snowy mountain in Italy after 5 years on the run. Mark Weinberg, an Indiana ear, nose, and throat specialist, was living in a tent in Val Ferret. When police cornered him, Weinberg...

Gold Mine Scamster Rips Off Couple for $5M

Fraudster spent elderly couple's cash on oxygen chamber

(Newser) - A California man who claimed to have a new way of extracting gold from old mines has been busted for bilking a couple in their '80s out of nearly $5 million. John Arthur Walthall blew the couple's cash on cars, alimony, film school fees for his son, and a $60,...

Scientology Guilty of Fraud, Rules French Court

But ruling stops short of outright ban

(Newser) - A Paris court has convicted the Church of Scientology's French branch of fraud and fined it $600,000, but stopped short of the ban on the group that was sought by prosecutors. Church leaders were found guilty of pressuring members into paying large sums of money for questionable financial gain....

Mixed Verdict Against Fake Korean 'Cloner'

Scientist who lied about stem cells gets suspended sentence

(Newser) - The disgraced South Korean scientist who falsely claimed major breakthroughs in stem cell research in human clones was convicted of embezzlement and other charges, but was acquitted of fraud and received only a suspended sentence. Hwang Woo-suk was hailed as a national hero in 2004 for claiming in the journal...

Madoff Colleague Found Dead in Swimming Pool

Jeffry Picower faced Ponzi scheme lawsuit

(Newser) - Philanthropist Jeffry Picower, who allegedly reaped billions of dollars from longtime friend Bernard Madoff's Ponzi schemes, was found dead today at the bottom of his Florida swimming pool. Efforts to revive him failed, and his death was ruled a drowning, police said. Picower, 67, wife Barbara, and their foundation were...

29-Year-Old SEC Honcho Came From Goldman

New COO Adam Storch did 'business intelligence' at connected Wall Street bank

(Newser) - The first person named to the new chief operating officer position in the SEC’s enforcement division is a 29-year-old whiz kid who previously worked at uber-connected Goldman Sachs, Bloomberg reports. "Adam’s skill in technology systems, workflow process, and project management will greatly benefit the division," his...

2 Madoff Victims Sue SEC
 2 Madoff Victims Sue SEC 
Oct 14, 2009 3:32 PM CDT

2 Madoff Victims Sue SEC

Regulators are responsible for victims' losses, suit claims

(Newser) - Two investors who lost a combined $2.4 million to Bernie Madoff’s ponzi scheme have sued the SEC for negligence. The lawsuit argues that the commission should reimburse the plaintiffs for their losses because it failed in its duty to protect investors. Regulators had "countless opportunities" to catch...

Brooke Astor's Son Guilty on 16 Counts, Faces 25 Years

Offspring swindled socialite, jury finds after lengthy trial

(Newser) - After a sensational 19-week trial, Brooke Astor's son was found guilty today on 16 of the 18 counts against him, including grand larceny and conspiracy. The 85-year-old will be sentenced on Dec. 8 and faces up to 25 years. The jury deliberated for 12 days before finding that the legendary...

Mistrial Looms in Astor Trial After 19 Weeks

Jury showing signs of strain after 19 Weeks

(Newser) - After a 5-month trial, the jury deciding the fate of Brooke Astor’s son may be at the breaking point. One juror wants out because she fears for her personal safety, the judge revealed today, a day after he felt compelled to deliver a pep talk in court urging jurors...

Madoff Trustee Sues Relatives for Not 'Doing Their Jobs'

$199M suit spreads blame to firm's execs

(Newser) - The trustee in the Bernie Madoff case, delivering on his threat to sue the imprisoned fraudster's relatives and co-workers, filed a $199 million lawsuit today in bankruptcy court. Rather than alleging that they knew about Bernie's Ponzi scheme, Irving Picard's complaint takes issue with the way brother Peter, sons Mark...

Ponzi Loot Puts Madoff Client Among Richest Americans

Picower made $7.2B, lands on Forbes list

(Newser) - Jeffry Picower is a secretive guy, which must have made his turn in the spotlight this week all the more uncomfortable. The former lawyer, who was already being sued for $5.1 billion in alleged profits from Bernie Madoff’s Ponzi scheme, cracked Forbes’ list of the 400 wealthiest Americans...

Trustee to Sue Madoff's Sons, Brother, Niece

He'll seek $198 million; sons may also have 'criminal problem'

(Newser) - Bernie Madoff’s sons, brother, and niece will all be sued this week for $198 million, the trustee in charge of sorting out the Ponzi mess said last night. Sons Mark and Andrew Madoff in particular withdrew roughly $35 million, despite making little if any investment. “Whether or not...

Madoff's Beach Home Sells for More Than Asking Price

Montauk manse was on the market for $8.75M

(Newser) - Bernie Madoff's Montauk beach house is off the market, ABC reports. A buyer paid cash "over the asking price" of $8.75 million, say Realtors involved with the deal. The US Marshals Service, which is selling the home to get money back for Madoff's victims, won't divulge the buyer's...

'Lebanese Madoff' Shames Hezbollah

Financier accused of using ties to party to dupe Shiites out of their savings

(Newser) - A Lebanese businessman's billion-dollar Ponzi scheme has left thousands of investors penniless and Hezbollah leaders seriously embarrassed, reports the New York Times. Salah Ezzedine—dubbed the "Lebanese Bernie Madoff" by the nation's press—has strong ties to Hezbollah, and many of the mostly Shiite investors in his scheme say...

ACORN Fires Staffers Over Prostitute Sting Video

Hidden camera catches employees advising phony pimp

(Newser) - The Baltimore office of ACORN has fired two staff members who were caught on tape giving advice to a man and a woman posing as a prostitute and a pimp, the Baltimore Sun reports. The video shows the staffers explaining how to evade tax laws, set up a brothel, and...

Madoff on Fooling SEC: 'Just Be Casual'

Ponzi schemer taped giving associates tips to dodge regulators

(Newser) - The most important thing to remember if you want to fool the SEC is to act casual, Bernie Madoff told executives at Fairfield Greenwich Group. “You don't want them to think you're concerned about anything,” the Ponzi scheme mastermind said in a phone call taped in 2005, CNN ...

Pfizer Pays Record $2.3B Fine for False Marketing

(Newser) - Pfizer will shell out $2.3 billion—a record for a health care fraud settlement—over deceptive marketing of its drugs, the Los Angeles Times reports. Pfizer and one of its subsidiaries marketed four drugs based on off-label uses specifically prohibited by the FDA. The settlement with the Justice Department...

For Sale: Madoff's $8.75M Hampton Home

$8.75M home being sold by government to pay restitution

(Newser) - Bernie Madoff’s Montauk beach home could be yours for just $8.75 million. The 3,000-square-foot home will go on the market this week—the first of three being sold by the government to get Madoff’s victims some of their money back, Bloomberg reports. Unfortunately for those investors,...

Stanford 'Fraud Scheme Sealed With Blood Oath'

Banker accused of giving bribes, Super Bowl tickets to Caribbean regulator

(Newser) - Alleged Ponzi schemer Allen Stanford cut his wrist and made a secret blood pact with the banking regulator of the island of Antigua, where his bank operated, according to court documents. Stanford and the official pressed their bloody wrists together in a "brotherhood ceremony," after which the...

Get Ready for Bigger, Badder Bernies
 Get Ready 
 for Bigger, 
 Badder Bernies 
whistleblower speaks
Aug 12, 2009 8:32 AM CDT

Get Ready for Bigger, Badder Bernies

Ponzi schemer will soon look small-time

(Newser) - If you think you’re mad at Bernie Madoff, just wait. Harry Markopolos, who blew the whistle on Madoff, says there are more baddies out there who will make good ol’ Bernie “look like small time.” While speaking at a Southampton church, the fraud investigator predicted scandals related...

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