bernie madoff: Inspector General Report: Madoff and SEC Were in Bed Together - 01/25/10 03:00 PM
The Securities and Exchange Commission's inspector general on Wednesday released a scathing report finding that the agency failed to follow up on detailed complaints and missed exposing the biggest fraud in the history of the agency, a $50 billion Ponzi scheme perpetrated by Bernard Madoff.
"Despite numerous credible and detailed complaints, the SEC never properly examined or investigated Madoff's trading and never took the necessary, but basic, steps to determine if Madoff was operating a Ponzi scheme," the SEC Inspector General David Kotz said in the report.
Kotz found evidence of a failure to follow up on three examinations … (0 comments)

bernie madoff: San Rafael Woman Tells Congress What Life is Like After Madoff - 01/21/10 01:24 PM
Two years ago, Jeannene Langford’s life in San Rafael, CA, came to a screeching halt. "I pretty much fell apart," Langford said. "I remember sitting down and crying on the phone to him. But there was not much to say, other than to explain that it was all a fraud."
Her financial manager was calling with news about Langford's account, and it wasn't good. "Our money was with Madoff," he told her. "It's all gone."
Jeannene Langford lost everything in Bernard Madoff's Ponzi scheme.  In Septmber of 2009, Ms Langford was asked by the US Congress to tell what her life … (0 comments)

bernie madoff: Michigan’s Version of a Bernie Mardoff Ponzi Scheme - 12/16/09 07:31 PM
A magician’s greatest tool is the ability to convince his audiences that what they are looking at is something other than what’s in front of their eyes. 
 
BBC Equities
 
This magical definition is what I’ll use to describe what happened to 440 investors of a Southfield company called BBC Equities.  In July of this year, BBC Equities was shut down in July and its two principal officers, John Bravata and Richard Trabulsy, were charged with five counts of securities fraud by the U.S. Securities and Exchange Commission.
 
The SEC's complaint charges John Bravata, Trabulsy, and Bravata Financial … (3 comments)

 

RALPH ROBERTS

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