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☆ This biographer exchanged emails with Bernie Madoff from prison for a decade. Here’s what he learned
  + stars: | 2024-07-28 | by ( Annie Nova | ) www.cnbc.com   time to read: +10 min
Richard Behar Courtesy: Lizzie CohenYou probably haven't heard Bernie Madoff's name in awhile, but that doesn't mean the infamous fraudster's story is over, or the pain he inflicted. Irving Picard, an 83-old court-appointed trustee, still spends his days trying to claw back money from the those who benefitted from Madoff's Ponzi scheme, and to reduce the staggering losses of others. 'Prison was a great relief for him'AN: How did Madoff say life in prison changed him? In prison, he'd typically wake up in his cell at around 4 a.m., make coffee in bed with an instant hot water machine, then read, or listen to NPR until breakfast. RB: Bernie said he was under constant stress over the Ponzi, and would talk out loud to himself sometimes in the office, because of the pressure.
Persons: Richard Behar, Lizzie Cohen, Bernie Madoff's, Irving Picard, Madoff, Elie Wiesel, Ruth, he's, Behar, Richard Behar's, Mark, MADOFF, BERNARD L, he'd, Annie Nova, I've, I'm, scammers, —, Bernard Madoff, Stephen Chernin, I'd, Bernie, Chris Hondros, wasn't, Picard, John Moscow, Irving, Picard isn't, It's Organizations: CNBC, Behar's, Forbes, Manhattan Federal, Getty, NPR, SEC, Manhattan Locations: North Carolina, New York City
☆ Deutsche Bank settles lawsuit over $1.6 bln Bernard Madoff claims
  + stars: | 2023-03-24 | by ( Industry Insight | Messaging Platform | Personal Device Use Is A Firm-Wide Compliance Problem | ) www.reuters.com   time to read: +2 min
Companies Deutsche Bank AG FollowNEW YORK, March 24 (Reuters) - Deutsche Bank AG (DBKGn.DE) has settled a lawsuit in which it accused two offshore funds of reneging on an agreement to sell it $1.6 billion of claims in the bankruptcy of Bernard Madoff's namesake firm. Incorporated in the British Virgin Islands, the Kingate funds funneled client money to Madoff for many years before his Ponzi scheme collapsed in 2008. The funds sold their claims against the former Bernard L. Madoff Investment Securities LLC to Deutsche Bank for 66 cents on the dollar in 2011. But the bank said the Kingate funds later got "sellers' remorse" because the value of the claims rose substantially. The case is Deutsche Bank Securities Inc v. Kingate Global Fund Ltd et al, U.S. District Court, Southern District of New York, No.
☆ Another $372 million on the way to Bernard Madoff's victims
  + stars: | 2022-09-28 | by ( Jonathan Stempel Rami Ayyub | Jonathan Stempel | Rami Ayyub | ) www.reuters.com   time to read: +3 min
An American flag waves outside the U.S. Department of Justice Building in Washington, U.S., December 15, 2020. REUTERS/Al Drago/File PhotoNEW YORK/WASHINGTON, Sept 28 (Reuters) - Bernard Madoff's victims will soon receive another $372 million to help cover their losses, nearly 14 years after the swindler's capture for running a massive Ponzi scheme, the U.S. Department of Justice said on Wednesday. The payout from the government's Madoff Victim Fund will go to 27,219 victims, including more than 400 who had yet to recoup a penny from any source. Wednesday's payout is the eighth from the government fund, with victims recouping an average 88.35% of their losses. It originally held $4.05 billion, but has grown because the Justice Department has recovered additional assets.
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