query: where did madoff live in nyc?

title: Bernard Madoff

text: Investor Protection Corporation (SIPC) trustee estimated actual losses to investors of $18 billion. On June 29, 2009, Madoff was sentenced to 150 years in prison, the maximum allowed. Madoff was born on April 29, 1938, in Queens, New York, to Jewish parents Ralph Madoff, a plumber and stockbroker, and Sylvia Muntner. Madoff's grandparents were emigrants from Poland, Romania, and Austria. He is the second of three children; his siblings are Sondra Weiner and Peter Madoff. Madoff graduated from Far Rockaway High School in 1956. He attended the University of Alabama for one year, where he became a brother of the

title: Ruth Madoff

text: Ruth Madoff Ruth Madoff (née Alpern; born May 18, 1941) is the wife of Bernie Madoff, the convicted American financial fraudster. She was director of Bernard L. Madoff Investment Securities. Madoff was born in Queens, New York, and raised in Laurelton, to a practicing Jewish family. She has one sister, Mrs. Joan Roman. She is a graduate of Far Rockaway High School and a 1961 graduate of Queens College. In 1992, she graduated from New York University with a Master of Science degree in nutrition. On November 28, 1959, at age 18, she married Bernard "Bernie" Madoff, whom she had

title: Ruth Madoff

text: sister. Following Andrew's death, Ruth moved to a condo-complex in Old Greenwich. Ruth Madoff Ruth Madoff (née Alpern; born May 18, 1941) is the wife of Bernie Madoff, the convicted American financial fraudster. She was director of Bernard L. Madoff Investment Securities. Madoff was born in Queens, New York, and raised in Laurelton, to a practicing Jewish family. She has one sister, Mrs. Joan Roman. She is a graduate of Far Rockaway High School and a 1961 graduate of Queens College. In 1992, she graduated from New York University with a Master of Science degree in nutrition. On November 28,

title: Roseland NYC Live

text: music videos for "Numb", "Sour Times", "All Mine", "Over" and "Only You", as well as short films "Road Trip" and "Wandering Star" and the Portishead movie "To Kill a Dead Man". All songs written by Geoff Barrow, Beth Gibbons and Adrian Utley except where noted. Portishead with Roseland NYC Live Roseland NYC Live is a live album by English band Portishead, released in 1998 by Go! Discs/London. A PAL format VHS video was released the same year, with a DVD version following four years later. Although the New York Philharmonic is credited as appearing in the video, none of the

title: Live in NYC 12/31/92

text: are taken directly from this album. Live in NYC 12/31/92 Live in NYC 12/31/92 is a limited edition live album by the American alternative rock band Pearl Jam, sent out to those who pre-ordered the 2006 album "Pearl Jam" before a certain date through the band's official website. "Live in NYC 12/31/92" features the band's 1992 New Year's Eve performance at The Academy Theater in New York City. The show featured a fast version of "Wash", which was never played live again. "Stranglehold" (a Ted Nugent cover) was played at the show but not released on the bootleg. An early

title: Live in NYC 12/31/92

text: Live in NYC 12/31/92 Live in NYC 12/31/92 is a limited edition live album by the American alternative rock band Pearl Jam, sent out to those who pre-ordered the 2006 album "Pearl Jam" before a certain date through the band's official website. "Live in NYC 12/31/92" features the band's 1992 New Year's Eve performance at The Academy Theater in New York City. The show featured a fast version of "Wash", which was never played live again. "Stranglehold" (a Ted Nugent cover) was played at the show but not released on the bootleg. An early version of "Daughter" is also heard,

title: Roseland NYC Live

text: Roseland NYC Live Roseland NYC Live is a live album by English band Portishead, released in 1998 by Go! Discs/London. A PAL format VHS video was released the same year, with a DVD version following four years later. Although the New York Philharmonic is credited as appearing in the video, none of the musicians are members of the Philharmonic, nor is the Philharmonic credited in the audio album. The album was mixed by Rik Simpson. Unlike the CD, all the tracks on the DVD were recorded at the Roseland Ballroom. The DVD version has a bonus elements section, containing the

title: Live CBGB's NYC 1998

text: Live CBGB's NYC 1998 Live CBGB's NYC 1998 is a live album by the German digital hardcore pioneer Alec Empire and the Japanese noise artist Merzbow. It was recorded on November 4, 1998, at the Digital Hardcore Festival at CBGB's in New York City and was released by Digital Hardcore Recordings in 2003. Another recording from the Digital Hardcore Festival in a CDr released by DHR in 2004 named "Live at CBGB's New York City 4-11-98". The disc contains a DJ set by Empire, with live vocals by Hanin Elias with MC Beans and Priest from Antipop Consortium. At the

title: Live CBGB's NYC 1998

text: conclusion of the set, Elias can be heard announcing the imminent appearance of Merzbow. Empire and Merzbow went on to collaborate on other projects. Merzbow played drums in Empire's live band set at the 2001 Fuji Rock Festival in Japan. Empire was one of the many remix artists involved in Merzbow's "". Live CBGB's NYC 1998 Live CBGB's NYC 1998 is a live album by the German digital hardcore pioneer Alec Empire and the Japanese noise artist Merzbow. It was recorded on November 4, 1998, at the Digital Hardcore Festival at CBGB's in New York City and was released by

title: Bernard Madoff

text: had met Shana Madoff in 2003 while investigating her uncle Bernie Madoff and his firm. The investigation was concluded in 2005. In 2006 Swanson left the SEC and became engaged to Shana Madoff, and in 2007 the two married. A spokesman for Swanson said he "did not participate in any inquiry of Bernard Madoff Securities or its affiliates while involved in a relationship" with Shana Madoff. While awaiting sentencing, Madoff met with the SEC's Inspector General, H. David Kotz, who conducted an investigation into how regulators had failed to detect the fraud despite numerous red flags. Madoff said he could

title: Shana Madoff

text: giving her the choice of pleading to a felony conviction on the same grounds. She is a lawyer; lawyers don't get the benefit of the doubt. They could say you knew this [SEC filing] was false, even if you did not know it was a Ponzi scheme. Shana Madoff Shana Diane Madoff, sometimes referred to as Shana Madoff Skoller Swanson, (born December 8, 1967) is an American attorney who is now a yoga teacher. She is the daughter of Peter Madoff, and a niece of Bernard Madoff, who employed her as a compliance officer and attorney at Bernard L. Madoff

title: Madoff investment scandal

text: SEC employees were disciplined; none were fired. On January 7, 2014, Forbes magazine and other news outlets reported that the bank JPMorgan Chase, "where Madoff kept the bank account at the center of his fraud", would pay a settlement of $1.7 billion. This resolved any potential criminal case against the bank arising from the Madoff scandal. JPMorgan entered into a deferred prosecution agreement with federal prosecutors to resolve two felony charges of violating the Bank Secrecy Act. The bank admitted to failing to file a "Suspicious Activity Report" after red flags about Madoff were raised, which, prosecutors alleged, did not

title: Bernard Madoff

text: recommend that the Federal Bureau of Prisons place Madoff in the Federal Correctional Institution, Otisville, which is located from Manhattan. The judge, however, only recommended that Madoff be sent to a facility in the Northeast United States. Madoff was transferred to the Federal Correctional Institution Butner Medium near Butner, North Carolina, about northwest of Raleigh; he is Bureau of Prisons Register #61727-054. Jeff Gammage of the "Philadelphia Inquirer" said "Madoff's heavy sentence likely determined his fate." Madoff's projected release date is November 14, 2139. The release date, described as "academic" in Madoff's case because he would have to live to

title: Participants in the Madoff investment scandal

text: shareholders in Cohmad Securities, which steered investors to Mr. Madoff's advisory business. In 1987, Mr. Cohn had shares of Madoff Holdings Ltd., a predecessor to the current London firm. In 1998, Mr. Cohn held 35,624 non-voting shares, some of which he transferred to "BL Madoff" in 1998, and the rest that he "disposed of" in 2004. Paul Konigsberg, a New York City accountant and a longtime friend for more than 25 years, prepared two Madoff Family Foundation tax returns, and received the non-voting shares, valued at $35,000. He did work for the London office when it was first opened. Clients

title: Madoff investment scandal

text: his wealth and 20% of his brother's, Bertrand, with Madoff. Bertrand said that René-Thierry did not know Madoff but the connection was through René-Thierry's partner in AIA, French banker, Patrick Littaye. On February 10, 2009, highly decorated British soldier William Foxton, OBE, 65, shot himself in a park in Southampton, England, having lost all of his family's savings. He had invested in the Herald USA Fund and Herald Luxembourg Fund, feeder funds for Madoff from Bank Medici in Austria. Madoff's elder son, Mark Madoff, was found dead on December 11, 2010, two years to the day after his father turned

title: Michelle Madoff

text: Michelle Madoff Michelle Madoff (; August 2, 1928 – October 12, 2013) was a Canadian-born American municipal politician who served on the Pittsburgh City Council from 1978 to 1994. Born as Pauline Radzinski in Toronto, Ontario, Canada, she attended Central Commerce High School and Brown's Business College. Because her birth name was difficult for teachers to pronounce, she legally changed it to Micki Rodin. She moved to the United States in 1952, where she married Dr. Henry R. Madoff in 1958. She settled in the Squirrel Hill neighborhood of Pittsburgh in 1961. Before entering politics Madoff was a community and

title: Bernard Madoff

text: million on October 6, and $250,000 on September 21. Andrew owned a Manhattan apartment and a home in Greenwich, Connecticut, as did his brother Mark prior to his death. Following a divorce from his first wife in 2000, Mark withdrew money from an account. Both sons used outside investment firms to run their own private philanthropic foundations. In March 2003, Andrew Madoff was diagnosed with mantle cell lymphoma and eventually returned to work. He was named chairman of the Lymphoma Research Foundation in January 2008, but resigned shortly after his father's arrest. Peter Madoff (and Andrew Madoff, before his death)

title: Shana Madoff

text: was running a Ponzi scheme, and the two started a regular correspondence; during 2003, Swanson sent Peter Madoff several regulatory requests. In March 2004, SEC lawyer Genevievette Walker-Lightfoot was reviewing Madoff's firm and raised questions to Swanson (who was her boss's supervisor) about unusual trading at one of the Madoff funds; she was told to instead concentrate on an unrelated matter. Swanson and her boss asked for her research, but did not act upon it. In February 2006, Swanson was emailed by Assistant Director John Nee that the SEC’s New York Regional Office was investigating a complaint that Bernard Madoff

title: Shana Madoff

text: no evidence that Swanson's romantic relationship with Shana Madoff influenced the closing of the SEC investigation of her uncle. He did conclude, however, that: "Swanson's communication with Shana during the period of time he was engaged in a cause examination of her uncle and father's firm, created the appearance of a potential conflict of interest." Swanson left the SEC on September 15, 2006. Swanson and Shana Madoff became engaged on December 8, 2006. The September 2007 wedding of Shana Madoff and Swanson was attended by Lori Richards, SEC Director of Compliance Investigations and Examinations, who oversaw Swanson at the SEC.

title: Madoff investment scandal

text: substantial assistance complicated efforts to locate assets. A former federal prosecutor suggested Madoff would have had the possibility of a sentence with parole if he fully cooperated with investigators, but Madoff's silence implied that there were other accomplices in the fraud, which led the judge to impose the maximum sentence. Chin also ordered Madoff to pay $17 billion in restitution. Madoff apologized to his victims at the sentencing, saying, "I have left a legacy of shame, as some of my victims have pointed out, to my family and my grandchildren. This is something I will live in for the rest

title: Madoff investment scandal

text: for Swanson said he "did not participate in any inquiry of Bernard Madoff Securities or its affiliates while involved in a relationship" with Shana Madoff. Madoff Securities LLC was investigated at least eight times over a 16-year period by the U.S. Securities and Exchange Commission (SEC) and other regulatory authorities. In 1992, the SEC investigated one of Madoff's feeder funds, Avellino & Bienes, the principals being Frank Avellino, Michael Bienes and his wife Dianne Bienes. Bienes began his career working as an accountant for Madoff's father-in-law, Saul Alpern. Then, he became a partner in the accounting firm Alpern, Avellino and

title: Shana Madoff

text: Shana Madoff Shana Diane Madoff, sometimes referred to as Shana Madoff Skoller Swanson, (born December 8, 1967) is an American attorney who is now a yoga teacher. She is the daughter of Peter Madoff, and a niece of Bernard Madoff, who employed her as a compliance officer and attorney at Bernard L. Madoff Investment Securities (BLMIS) from 1995 until 2008. In December 2008 BLMIS was discovered to be a $65 billion Ponzi scheme, and closed as part of the Madoff investment scandal. Her uncle Bernard Madoff was sentenced to 150 years in prison for the scheme, and her father, who

title: Bernard Madoff

text: then traveled to Madoff's apartment, where with Ruth Madoff nearby, Madoff told them he was "finished," that he had "absolutely nothing" left, and that his investment fund was "just one big lie" and "basically, a giant Ponzi scheme." According to their attorney, Madoff's sons then reported their father to federal authorities. Madoff had intended to wind up his operations over the remainder of the week before having his sons turn him in; he'd directed DiPascali to use the remaining money in his business account to cash out the accounts of several family members and favored friends. However, as soon as

text: Investment Securities LLC, to the U.K. office and then back to accounts in the U.S. In 2000, Madoff began to add staff and expand the operation, and loaned the business $62.5 million. He had a staff of 25, including traders, managers and support. Instructions to staff was that they communicate with Madoff Securities through personal e-mail accounts, not through company e-mail. There were nine directors. Family members with shares included Mark and Andrew Madoff, Peter Madoff, and Bernard himself. Ruth Madoff, Bernard Madoff's wife, also held shares. Non-family members with shares included Maurice J. "Sonny" Cohn. Madoff and Cohn were

title: Where Did Your Heart Go?

text: Where Did Your Heart Go? "Where Did Your Heart Go?" is a song written by American musicians David Was and Don Was. The song was first recorded and released by the writers' disco-dance-rock band Was (Not Was) as a single in the UK as a double A-side with "Wheel Me Out" in September 1981. The single did not chart. It was featured as the second track on the band's début album "Was (Not Was)" in August 1981. French editions of the single included the track "It's an Attack!" as the B-side. A live recording of "Where Did Your Heart Go?"

text: Madoff's scheme and had cooperated fully with investigators. Swain ruled that Konigsberg had earned lenience from federal sentencing guidelines and did not have to serve any time in prison. Evidence is being gathered by investigators on a U.S.-U.K. task force that Konigsberg and Levy, a real-estate mogul and philanthropist are believed to be involved in an international transfer of money. Levy is believed to have helped Paul Konigsberg funnel checks to London. And investigators in New York say there were billions of dollars' worth of checks going back and forth between Madoff and Levy. Ruth and Bernie Madoff had an

text: estate holdings. Picard charged that "red flags" were ignored, and there was no due diligence. He claimed that the Mets owners "were simply in too deep – having substantially supported their businesses with Madoff money – to do anything but ignore the gathering clouds." On February 10, 2011, former N.Y. governor Mario Cuomo was appointed as a mediator in the dispute between the trustee and Sterling. On March 19, 2012 Wilpon and Picard agreed to settle the lawsuit for $162 million. Ruth Madoff did not attend her husband's sentencing. As part of her husband's sentencing terms, she agreed to give

title: Madoff (miniseries)

text: 61/100 rating based on 25 reviews. On Rotten Tomatoes, it has an approval rating of 68% based on 31 reviews, with an average rating of 6/10. The site's critics consensus reads: ""Madoff" boasts a knockout performance from Richard Dreyfuss, whose obvious enjoyment of the role helps make up for the miniseries' surplus of polish and overall lack of perspective." Madoff (miniseries) Madoff is a 2016 American television miniseries written by Ben Robbins, inspired by Brian Ross' book "The Madoff Chronicles", about the Madoff investment scandal. The Madoff investment scandal was a fraud scheme perpetrated by Bernard Madoff, a former stockbroker,

text: Judge Arthur Hiller in Bridgeport, Connecticut, dissolved the temporary order he imposed March 30 freezing assets, and ordered Sandra Manzke, to provide a $2.5 million mortgage on a piece of property she owns in Vermont. Maxam's attorney, Jonathan D. Cogan said,"The Town of Fairfield's suit is an outrageous publicity stunt to divert attention from the town's own decision to invest in Madoff, which was made long before it did business with Maxam." The pension fund case is Retirement Program for Employees of the Town of Fairfield v. Madoff, FBT-CV-09-5023735-S, Superior Court of Connecticut (Bridgeport) On July 28, 2011, Irving Picard,

text: order he imposed March 30 freezing her assets, because they were already frozen by the federal government. The pension fund case is Retirement Program for Employees of the Town of Fairfield v. Madoff, FBT-CV-09-5023735-S, Superior Court of Connecticut (Bridgeport) On January 30, 2009, a CBS News investigation discovered that the Madoffs were moving assets during the 2006 SEC investigation. Madoff had purchased their $9.5 million Palm Beach mansion in March 1994 in his wife's name. Not until December 10, 2006, did she apply for "homestead" status, shielding their home from creditors. Her initial application was rejected because there was no

title: NYC 1978

text: US markets on August 19, 2003 as ""NYC 1978"". One year later, the same material as an album on CD was released to the UK and European markets by Sanctuary Records on February 23, 2004 with alternative cover art and title: ""Live, January 7, 1978 At The Palladium, NYC"". NYC 1978 NYC 1978 was the final live album by American punk rock band, the Ramones. The performance was recorded January 07 1978 near Union Square at the Palladium as part of the King Biscuit Flower Hour Archive Series. This is the last commercially recorded performance with Tommy Ramone as the

text: died in 2005 at the age of 93, Madoff extolled him as a man whose friendship he had cherished and who had "taught me so much." Levy's son Francis said his father believed in Madoff: "If there's one honorable person," he said, "it's Bernie." On April 14, 2009, the liquidators of Madoff International Limited of London filed for Chapter 15 bankruptcy recognition in West Palm Beach, Florida, and sued Peter Madoff, to recover a 1964 Aston Martin DB2/4 automobile worth an estimated $200,000. In March and May 2008, Madoff International wire-transferred 135,000 pounds ($198,207) to buy a car for Peter

title: Live at the Roseland Ballroom, NYC

text: Live at the Roseland Ballroom, NYC Live at the Roseland Ballroom is the first live album from Bachman & Turner. It was released on May 29, 2012 worldwide through Eagle Rock Entertainment, and was released as a two-disc set, DVD and digital format. This album contains mostly songs from Randy Bachman and Fred Turner's work in the band Bachman–Turner Overdrive. Paul Shaffer makes a guest appearance on the songs "Shakin' All Over", "Roll On Down The Highway" and "Takin' Care of Business". Asked in "Goldmine" about the making of the album, Bachman explained: "When we got asked to do a

title: Michelle Madoff

text: Pittsburgh Pirates, Madoff claimed she was "threatened with impeachment". In a 1991 run for city controller, Madoff finished third, with 28.3% of votes. Madoff lost her council seat after being defeated in the 1993 Democratic primary. Madoff later lived in South Carolina and Las Vegas. She married Fred Scheske in 2001 and settled in Arizona. They had originally met on the online dating service Match.com. She died at a retirement community in Peoria, Arizona on October 12, 2013, aged 85, from leukemia. Michelle Madoff Michelle Madoff (; August 2, 1928 – October 12, 2013) was a Canadian-born American municipal politician

text: were often directed to Mr. Konigsberg by Mr. Madoff and his family. Mr. Konigsberg prepared the tax returns of foundations of six other families, many of which have lost millions, even hundreds of millions, of dollars. He also represented scores of individual Madoff investors. Mr. Konigsberg's firm has received a civil subpoena from the SEC. His Madoff-related clients included Carl and Ruth Shapiro, Boston philanthropists whose foundation lost $145 million, and whose son-in-law, Robert M. Jaffe, under investigation, is a Madoff business partner. Konigsberg held Madoff accounts under his name including two in the name of the Westlake Foundation. Paul

title: Live at the Roseland Ballroom, NYC

text: along with Bachman and Turner – plus Paul Shaffer on three tracks - "blast[s] with surprising power and strength through all the hits." Live at the Roseland Ballroom, NYC Live at the Roseland Ballroom is the first live album from Bachman & Turner. It was released on May 29, 2012 worldwide through Eagle Rock Entertainment, and was released as a two-disc set, DVD and digital format. This album contains mostly songs from Randy Bachman and Fred Turner's work in the band Bachman–Turner Overdrive. Paul Shaffer makes a guest appearance on the songs "Shakin' All Over", "Roll On Down The Highway"

title: Madoff (miniseries)

text: Madoff (miniseries) Madoff is a 2016 American television miniseries written by Ben Robbins, inspired by Brian Ross' book "The Madoff Chronicles", about the Madoff investment scandal. The Madoff investment scandal was a fraud scheme perpetrated by Bernard Madoff, a former stockbroker, investment advisor, and financier. He is the former non-executive chairman of the NASDAQ stock market and the admitted operator of a Ponzi scheme that is considered the largest financial fraud in U.S. history. The miniseries aired over two nights, February 3 and 4, 2016, on ABC. The miniseries has received favorable reviews from critics. On Metacritic, it holds a

text: Mark from 2001 to October 2008. Mark Madoff owed his parents $22 million, and Andrew Madoff owed $9.5 million. There were two loans in 2008 from Bernard Madoff to Andrew Madoff: $4.3 million on Oct 6, and $250,000 on Sept. 21. On April 13, 2009, Judge Arthur Hiller in Bridgeport, Connecticut, dissolved the temporary order he imposed March 30 freezing their assets. They agreed to attachments of $2.5 million each to their Greenwich homes. The pension fund case is Retirement Program for Employees of the Town of Fairfield v. Madoff, FBT-CV-09-5023735-S, Superior Court of Connecticut (Bridgeport) On June 16, 2009,

title: Bernard Madoff

text: the fraud. Madoff did not plea bargain with the government. Rather, he pleaded guilty to all charges. It has been speculated that Madoff pleaded guilty instead of cooperating with the authorities in order to avoid naming any associates and co-conspirators who were involved with him in the scheme. In November 2009, David G. Friehling, Madoff's accounting front man and auditor, pleaded guilty to securities fraud, investment adviser fraud, making false filings to the SEC, and obstructing the IRS. He admitted to merely rubber-stamping Madoff's filings rather than auditing them. Friehling extensively cooperated with federal prosecutors and testified at the trials

title: Bernard Madoff

text: an acquaintance soon after his arrest that the fraud began "almost immediately" after his firm opened his doors. Bongiorno, who spent over 40 years with Madoff, told investigators that she was doing "the same things she was doing in 2008" that she did when she first joined the firm. Madoff targeted wealthy American Jewish communities, using his in-group status to obtain investments from Jewish individuals and institutions. Affected Jewish charitable organizations considered victims of this affinity fraud include Hadassah, the Women's Zionist Organization of America, the Elie Wiesel Foundation and Steven Spielberg's Wunderkinder Foundation. Jewish federations and hospitals lost millions

title: Bernard Madoff

text: helped to develop became the NASDAQ. The firm functioned as a third-market provider, bypassing exchange specialist firms by directly executing orders over the counter from retail brokers. At one point, Madoff Securities was the largest market maker at the NASDAQ, and in 2008 was the sixth-largest market maker on Wall Street. The firm also had an investment management and advisory division, which it did not publicize, that was the focus of the fraud investigation. Madoff was "the first prominent practitioner" of payment for order flow, in which a dealer pays a broker for the right to execute a customer's order.

title: Bernard Madoff

text: This has been called a "legal kickback." Some academics have questioned the ethics of these payments. Madoff argued that these payments did not alter the price that the customer received. He viewed the payments as a normal business practice: If your girlfriend goes to buy stockings at a supermarket, the racks that display those stockings are usually paid for by the company that manufactured the stockings. Order flow is an issue that attracted a lot of attention but is grossly overrated. Madoff was active in the National Association of Securities Dealers (NASD), a self-regulatory securities-industry organization. He served as chairman

title: Bernard Madoff

text: Tau Chapter of the Sigma Alpha Mu fraternity, then transferred to and graduated from Hofstra University in 1960 with a Bachelor of Arts in political science. Madoff briefly attended Brooklyn Law School, but founded the Wall Street firm Bernard L. Madoff Investment Securities LLC and remained working for his own company. At the time of his arrest on December 11, 2008, Madoff was the chairman of Bernard L. Madoff Investment Securities LLC. The firm started in 1960 as a penny stock trader with $5,000 ($ today) that Madoff earned from working as a lifeguard and sprinkler installer. He further secured

title: Madoff investment scandal

text: Madoff investment scandal The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernard Madoff, the former NASDAQ Chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate Ponzi scheme. Madoff founded the Wall Street firm Bernard L. Madoff Investment Securities LLC in 1960, and was its chairman until his arrest. The firm employed Madoff's brother Peter as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as rules and

title: Hot August Night/NYC: Live from Madison Square Garden

text: Night II" (1987). Hot August Night/NYC: Live from Madison Square Garden Hot August Night/NYC is a DVD release from Neil Diamond released on August 14, 2009. The DVD features songs from Diamond's four shows at Madison Square Garden during his 2008 tour. An accompanying 2-CD album was released at the same time. An edited, hour-long special featuring songs from this DVD was shown on CBS on the night of the disc's release. The special was watched by 13 million viewers. This is the third in a series of similarly titled live albums; it was preceded by "Hot August Night" (1972)

text: Hot August Night/NYC: Live from Madison Square Garden Hot August Night/NYC is a DVD release from Neil Diamond released on August 14, 2009. The DVD features songs from Diamond's four shows at Madison Square Garden during his 2008 tour. An accompanying 2-CD album was released at the same time. An edited, hour-long special featuring songs from this DVD was shown on CBS on the night of the disc's release. The special was watched by 13 million viewers. This is the third in a series of similarly titled live albums; it was preceded by "Hot August Night" (1972) and "Hot August

title: Madoff investment scandal

text: "harm or flight" in its request for Madoff to be confined to his Upper East Side apartment. Cameras monitored his apartment's doors, its communication devices sent signals to the FBI, and his wife was required to pay for additional security. Apart from 'Bernard L. Madoff' and 'Bernard L. Madoff Investment Securities LLC ("BMIS")', the order to freeze all activities also forbade trading from the companies Madoff Securities International Ltd. ("Madoff International") and Madoff Ltd. On January 5, 2009, prosecutors had requested that the Court revoke his bail, after Madoff and his wife allegedly violated the court-ordered asset freeze by mailing

text: referred potential investors to Madoff. In 2008, about $1 billion was transferred last between Madoff's U.S. firm and Madoff Securities International Ltd. in London. On March 24, 2009 Judge Louis L. Stanton granted power of attorney to Irving Picard, trustee, over Madoff's controlling stake in London. Authorities in the U.K. are seeking evidence of money laundering involving the London business, Madoff Securities International Ltd., which opened in 1983 as a separate legal entity from Mr. Madoff's U.S. New York office. He allegedly sent more than $250 million beginning as early as 2002, from his New York-based firm, Bernard L. Madoff

text: Madoff, and delivered it to him at his residence in Palm Beach. Madoff International's listed assets are as much as $500 million and debt of more than $1 billion in its bankruptcy petition. The bankruptcy is designed to block U.S. lawsuits against foreign companies with U.S. operations while they reorganize overseas. Investors who filed an involuntary personal bankruptcy petition against Madoff want his business's U.K. unit's bankruptcy moved to New York because "overlapping discovery, related assets and common creditors" among the various cases mean they should be in the same court. The Chapter 15 case is "In re Madoff Securities

text: business in 2007 to TD Ameritrade, also a defendant. The lawsuit estimates Fiserv generated at least $25 million annually from Madoff investors and claims it wasn't diligent because "Fiserv had too much revenue at stake to risk upsetting Madoff." In June 2011, Judge Christine M. Arguello ruled in favor of Fiserv Inc. and its co-defendants. Arguello found that the investors bore responsibility for the investment decisions and that the funds transferred to Madoff were done so at the direction of the investors. Although Madoff was included among Fiserv's investment options, Arguello noted that the IRA agreements provided to Fiserv's investors

text: firm's address in New York City. Cohmad employs Robert Jaffe, as vice president. Jaffe is married to Ellen Shapiro, daughter of Boston philanthropist Carl J. Shapiro, the founder and former chairman of apparel company Kay Windsor Inc., and an early investor and close friend of Madoff. Jaffe reportedly convinced the elder Shapiro to invest $250 million with Madoff just 10 days before Madoff's arrest. Jaffe, a philanthropist, "worked the Palm Beach, Florida circuit, and attracted many Palm Beach Country Club members as investors." Jaffe brought in 150 accounts and more than $1 billion to Madoff. Madoff paid Jaffe directly through

text: Peter served as a trustee for law student Andrew Samuels' $470,000 inheritance from his grandfather who worked for Madoff and created a trust for him. Andrew's lawsuit, claiming $2 million for breach his fiduciary duty by investing his inheritance with Bernard Madoff was settled in July 2009. The case is "Ross v. Madoff", 09-5534, New York Supreme Court for Nassau County (Mineola). On April 13, 2009, Judge Arthur Hiller in Bridgeport, Connecticut, dissolved the temporary order he imposed March 30 freezing his assets. Madoff agreed to attachments of $2.5 million to his Long Island home. His attorney is H. James

text: a vacuum," and felt the forfeiture was necessary to hold the defendants to account even though it will likely never be repaid in full. Friehling's involvement made the Madoff scandal the largest accounting fraud in history, dwarfing the $11 billion fraud orchestrated by Bernard Ebbers at WorldCom. Peter B. Madoff, Chief Compliance Officer, worked with his brother Bernie for more than 40 years, and ran the daily operations for the past 20 years. Peter Madoff helped create the computerized trading system used by the firm and his daughter, Shana Madoff Swanson, worked for him at the firm as a rules

text: International Ltd.", 09-16751, U.S. Bankruptcy Court, Southern District of Florida (West Palm Beach). On June 8, 2009 the Chapter 15 case was transferred to the Southern District of New York as "Madoff Securities International Limited, Stephen John Akers, Mark Richard Byers, and Andrew Laurence as the Joint Provisional Liquidators", 09-12998, so it can be administered more effectively with the related involuntary bankruptcies against Madoff, and his companies, also filed in New York. The associated adversary proceeding was also moved to the Southern District of New York as "Akers et al. v. Madoff", 09-1186, demanding $235,000 against Peter B. Madoff. Since

title: NYC Ferry

text: ticket sellers who harangued passersby in order to sell tickets for separate ferries in Lower Manhattan. The aggressive ticket-selling practice was stopped following the latter story. Several ferries in the New York City area were affected when plans for NYC Ferry were made public. NY Waterway would give over its East River route to NYC Ferry. New York Water Taxi remained separate, but was to eliminate 200 jobs; it had stated that if it did not win the contract with the city to operate NYC Ferry, then it would shut down. Since the company did not win the NYC Ferry

title: Where Did Our Love Go (album)

text: on December 29, 1964. It was equivalent to Motown 25 or Live Aid as a pivotal music concert event . When it hit theaters nationwide, it undoubtedly raised and extended the visibility of the "Where Did Our Love Go" album. All tracks written by Holland–Dozier–Holland except as noted. The original album sold a million copies {in 1964-1965} stateside alone. The limited exclusive "40th Anniversary" version is now listed as "sold out". It remains, to date, their third best-selling studio album. Where Did Our Love Go (album) Where Did Our Love Go is the second studio album by Motown singing group

title: Madoff investment scandal

text: Harry Markopolos at their Boston regional office and reviewed his allegations of Madoff's fraudulent practices. The SEC claimed it conducted two other inquiries into Madoff in the last several years, but did not find any violations or major issues of concern. In 2004, after published articles appeared accusing the firm of front running, the SEC's Washington office cleared Madoff. The SEC detailed that inspectors had examined Madoff's brokerage operation in 2005, checking for three kinds of violations: the strategy he used for customer accounts; the requirement of brokers to obtain the best possible price for customer orders; and operating as

title: Madoff investment scandal

text: Bienes. In 1962, the firm began advising its clients about investing all of their money with a mystery man, a highly successful and controversial figure on Wall Street—but until this episode, not known as an ace money manager—Madoff. When Alpern retired at the end of 1974, the firm became Avellino and Bienes and continued to invest solely with Madoff. Avellino & Bienes, represented by Ira Sorkin, Madoff's former attorney, were accused of selling unregistered securities. In a report to the SEC they mentioned the fund's "curiously steady" yearly returns to investors of 13.5% to 20%. However, the SEC did not

title: Madoff investment scandal

text: look any more deeply into the matter, and never publicly referred to Madoff. Through Sorkin, who once oversaw the SEC's New York office, Avellino & Bienes agreed to return the money to investors, shut down their firm, undergo an audit, and pay a fine of $350,000. Avellino complained to the presiding Federal Judge, John E. Sprizzo, that Price Waterhouse fees were excessive, but the judge ordered him to pay the bill of $428,679 in full. Madoff said that he did not realize the feeder fund was operating illegally, and that his own investment returns tracked the previous 10 years of

title: Madoff investment scandal

text: questioned the ethics of these payments. Madoff has argued that these payments did not alter the price that the customer received. He viewed payments for order flow as a normal business practice: "If your girlfriend goes to buy stockings at a supermarket, the racks that display those stockings are usually paid for by the company that manufactured the stockings. Order flow is an issue that attracted a lot of attention but is grossly overrated." By 2000, Madoff Securities, one of the top traders of US securities, held approximately $300 million in assets. The business occupied three floors of the Lipstick

title: Bernard Madoff

text: an ocean-front residence in Montauk. His primary residence was on Manhattan's Upper East Side, and he was listed as chairman of the building's co-op board. He also owned a home in France and a mansion in Palm Beach, Florida, where he was a member of the Palm Beach Country Club. Madoff owned a sportfishing yacht named "Bull". All three homes were auctioned by the U.S. Marshals Service in September 2009. Sheryl Weinstein, former chief financial officer of Hadassah, disclosed in a memoir that she and Madoff had had an affair more than 20 years earlier. As of 1997, when Weinstein

title: Bernard Madoff

text: helped Madoff create a phony paper trail, the false account statements that were supplied to clients. Bernard Madoff suffered a heart attack in December 2013, and reportedly suffers from end-stage renal disease (ESRD). According to CBS New York and other news sources, Madoff claimed in an email to CNBC in January 2014 that he has kidney cancer but this is unconfirmed. Madoff was a prominent philanthropist, who served on boards of nonprofit institutions, many of which entrusted his firm with their endowments. The collapse and freeze of his personal assets and those of his firm affected businesses, charities, and foundations

title: Bernard Madoff

text: and Chief Compliance Officer, and Peter's daughter, Shana Madoff, also an attorney, was the firm's compliance attorney. On the morning of December 11, 2010 — exactly two years after Bernard's arrest — his son Mark was found dead in his New York City apartment. The city medical examiner ruled the cause of death as suicide by hanging. Over the years, Madoff's sons had borrowed money from their parents, to purchase homes and other property. Mark Madoff owed his parents $22 million, and Andrew Madoff owed them $9.5 million. There were two loans in 2008 from Bernard Madoff to Andrew: $4.3

title: Bernard Madoff

text: my well being, including the staff <nowiki>[…]</nowiki> It's much safer here than walking the streets of New York. After an inmate slapped Madoff because he had changed the channel on the TV, it was reported that Madoff befriended Carmine Persico, boss of the Colombo crime family since 1973, one of New York's five American Mafia families. It was believed Persico had intimidated the inmate who slapped Madoff in the face. On November 28, 1959, Madoff married Ruth Alpern, whom he had met while attending Far Rockaway High School. The two eventually began dating. Ruth graduated from high school in 1958,

title: Bernard Madoff

text: he confessed. In February 2009, Madoff reached an agreement with the SEC. It was later revealed that as part of the agreement, Madoff accepted a lifetime ban from the securities industry. Picard sued Madoff's sons, Mark and Andrew, his brother Peter, and Peter's daughter, Shana, for negligence and breach of fiduciary duty, for $198 million. The defendants had received over $80 million in compensation since 2001. According to the SEC indictment against Annette Bongiorno and Joann Crupi, two back office workers who worked for Madoff, they created false trading reports based on the returns that Madoff ordered for each customer.

title: Bernard Madoff

text: overseen the fraudulent advisory business, that he was finished. On December 9, he told his brother about the fraud. According to the sons, Madoff told Mark Madoff on the following day, December 9, that he planned to pay out $173 million in bonuses two months early. Madoff said that "he had recently made profits through business operations, and that now was a good time to distribute it." Mark told Andrew Madoff, and the next morning they went to their father's office and asked him how he could pay bonuses to his staff if he was having trouble paying clients. They

title: Bernard Madoff

text: of its board of directors, and was a member of its board of governors. From 1991 to 2008, Bernie and Ruth Madoff contributed about $240,000 to federal candidates, parties and committees, including $25,000 a year from 2005 through 2008 to the Democratic Senatorial Campaign Committee. The Committee returned $100,000 of the Madoffs' contributions to Irving Picard, the bankruptcy trustee who oversees all claims, and Senator Charles E. Schumer returned almost $30,000 received from Madoff and his relatives to the trustee. Senator Christopher J. Dodd donated $1,500 to the Elie Wiesel Foundation for Humanity, a Madoff victim. Members of the Madoff

title: Recovery of funds from the Madoff investment scandal

text: U.S. District Court, Southern District of New York (Manhattan) was made permanent. As part of the judgment, Madoff was banned from the securities industry. He also agreed that his assets would remain frozen and not violate any securities laws. The agreement did not require Madoff to admit or deny any allegations against him. It also left the issues of any civil fines and repayments to be imposed against Madoff for a later time. The agreement was unrelated to any plea or indictment in the criminal matter. About 120 Madoff-related class actions have been filed – mainly suits on behalf of

title: Madoff investment scandal

text: the act of putting together the various account statements, which did show trading activity, has to involve a number of people. You would need office and support personnel, people who actually knew what the market prices were for the securities that were being traded. You would need accountants so that the internal documents reconcile with the documents being sent to customers at least on a superficial basis," said Tom Dewey, a securities lawyer. The criminal case is U.S.A. v. Madoff, 1:08-mJ-02735. The SEC case is "Securities and Exchange Commission v. Madoff", 1:08-cv- 10791, both U.S. District Court, Southern District of

title: Madoff investment scandal

text: regional administrator. Avellino and Bienes deposited $454 million of investors' money with Madoff, and until 2007, Bienes continued to invest several million dollars of his own money with Madoff. In a 2009 interview after the scam had been exposed, he said, "Doubt Bernie Madoff? Doubt Bernie? No. You doubt God. You can doubt God, but you don't doubt Bernie. He had that aura about him." The SEC investigated Madoff in 1999 and 2000 about concerns that the firm was hiding its customers' orders from other traders, for which Madoff then took corrective measures. In 2001, an SEC official met with

title: Anime NYC

text: an large anime convention. The first Anime NYC took over a year to plan and used two halls in the convention center. In the conventions first year, they did not use the amount of space New York Comic Con does. New York City declared it Anime NYC Weekend for the 2017 convention. Anime NYC added more floor space in 2018, with additional expansion planned in 2019. The convention also hosted the Anisong World Matsuri at the Hammerstein Ballroom. Anime NYC Anime NYC is an annual three-day anime convention held during November at the Jacob K. Javits Convention Center in New

title: Madoff investment scandal

text: $70 million in assets for Ruth, arguing that it was unconnected to the fraud scheme. Prosecutors recommended a prison sentence of 150 years, the maximum possible under federal sentencing guidelines. They informed Chin that Irving Picard, the trustee overseeing bankruptcy proceedings for the Madoff organization, had indicated that "Mr. Madoff has not provided meaningful cooperation or assistance." The Bureau of US Prisons had recommended 50 years, while defense lawyer Ira Sorkin had recommended 12 years, arguing that Madoff had confessed. The judge granted Madoff permission to wear his personal clothing at sentencing. On June 29, Judge Chin sentenced Madoff to

text: clearly indemnified the defendants and that Fiserv "had no obligation to verify or audit." On November 16, 2011, longtime Madoff trader David Kugel pleaded guilty to backdating trades for Madoff. Kugel joined the firm in 1970, eventually becoming a supervisor with Madoff's legitimate proprietary trading operation. In his allocution, he admitted creating bogus trading records as early as the 1970s–further undermining Madoff's claim that he only began his fraud in 1991. He made greater than $10 million in profits from investments with Madoff, and his salary was as high as $588,000 a year. He told prosecutors that after the main

text: nearly $1 billion, in the Gabriel and Ariel funds, and another will be responsible for overseeing Ascot, whose entire $1.8 billion in assets was lost to Madoff's Ponzi scheme. Cohmad Securities, whose name combines "Cohn" and "Madoff," founded in 1985 by Madoff and Cohn, Madoff's friend and former neighbor. Maurice "Sonny" Cohn owned 48% of Cohmad, and his daughter Marcia, who served as president and chief compliance officer owned 25%. Madoff owned 15%. Mr. Madoff's brother, Peter owned 9%, and Mr. Cohn's brother owned 1%, and another unnamed Cohmad employee owned 1%. The brokerage firm lists its address as Madoff's

text: billion to Madoff's fraud, about half of the actual money lost. On October 18, 2013 Kohn was found innocent of the civil charges leveled against her by the High Court in London and thus relieved of any liability to the Madoff creditors. J. Ezra Merkin, a prominent investment advisor and philanthropist, has been sued for his role in running a "feeder fund" for Madoff. Merkin informed investors in his $1.8 billion Ascot Partners fund on December 11 that he was among those who suffered substantial personal losses, since all of the fund's money was invested with Madoff. The Connecticut Attorney

text: to handle their monthly statements. The firm compiled profits, losses, and gains, and prepared tax-summary statements and schedules to be used by a client's regular accountant for income tax returns, producing one-page monthly statements and a quarterly statement. Fairfield Greenwich Group, based in Greenwich, Connecticut, had a "Fairfield Sentry" fund which was one of many feeder funds that gave investors portals to Madoff. Fairfield, in turn, set up further feeder funds such as "Lion Fairfield Capital Management" in Singapore and "Stellar US Absolute Return," all conduits to Madoff, directing a total of $7.5 billion. Madoff was able to pitch his

text: Participants in the Madoff investment scandal Investigators are looking for other participants in the Madoff investment scandal besides Bernard Madoff, despite Madoff's assertion that he alone was responsible for the large-scale Ponzi scheme. Harry Sussman, an attorney representing several clients of the firm, stated that "someone had to create the appearance that there were returns," and further suggested that there must have been a team buying and selling stocks, forging books, and filing reports. James Ratley, president of the Association of Certified Fraud Examiners said, "In order for him to have done this by himself, he would have had to

text: group of hedge funds owned by Massachusetts Mutual Life Insurance Co, as well as, its parent companies in December 2010, seeking more than $2 billion and alleging that company executives ignored "obvious warning signs" that Madoff was running a fraud. Picard alleged that Tremont failed to do any meaningful review of Madoff's operations or purported investment results, blindly allowing Rye to turn over half its $6 billion in client assets to Madoff and losing half that money when the scheme finally collapsed. The payment of $1 billion to the Madoff truste, provided by Massachusetts Mutual Life as a loan to

text: accounts he kept with Madoff at much higher returns than earned by other investors. Between 1996 and 2008, Jaffe withdrew at least $150 million, and the SEC claims he was aware Madoff was engaged in fictitious trading. Jaffe has said he received a commission of 1% to 2% from an investor's first profit, and he paid commissions to financial advisers who steered cash to Madoff's fund. Richard Spring, of Boca Raton, Florida, received payments from Cohmad for many years in exchange for bringing investors and investment ideas to Madoff. Alvin J. "Sonny" Delaire, Jr. of Far Hills, New Jersey also

text: the verdict. On September 3, 2014, Andrew Madoff died of mantle cell lymphoma at Memorial Sloan Kettering Cancer Center in New York City. He was 48. Jeffry Picower was an industrialist and philanthropist who seemed to be a favored Madoff beneficiary, and made outlandish profits from his investments with Madoff. From 1996–2007 there were 14 instances of greater than 100% yearly returns and 25 of greater than 50%. From 1996–1999 his regular trading account made from 120–550% a year. Some evidence of backdating trades, instituted by Picower, has been presented by trustee Irving Picard. In December 2010, his estate returned

text: the faulty assumption" that the sons exercised a compliance function over the investment advisory business. On December 11, 2010, on the second anniversary of his father's arrest, Mark Madoff was found dead in his New York City apartment from an apparent suicide. It was later ruled suicide by hanging by a New York City medical examiner. On October 18, 2013, a UK court dismissed a $40 million case against the directors of Madoff's British unit. The directors included the deceased Mark Madoff and the critically ill Andrew Madoff, being treated for mantle cell leukemia in Seattle at the time of

text: Lautenberg's family foundation, which invested more than $7 million, also filed a lawsuit against Peter Madoff. On June 29, 2012, Peter pleaded guilty in Federal court to a variety of charges and agreed to a 10-year prison term. Peter Madoff sometimes signed many weeks of compliance reports in one sitting, intentionally changing pens and ink colors to make it appear he had signed them at various times, according to prosecutors. Peter Madoff admitted hiding millions of dollars from the I.R.S. to avoid taxes, and took $200,000 from the firm for charitable donations even after the fraud was exposed. A forfeiture

text: at least 1991, Bernard L. Madoff Investment Securities had been audited by Friehling & Horowitz CPAs, a little-known accounting firm in New City, north of New York City. The firm consisted of two principals, David G. Friehling and Jerome Horowitz, and a part-time secretary. Horowitz was semi-retired; Friehling was the sole active practitioner. Well before the Madoff scandal broke, several observers doubted that a tiny firm with only one active accountant could competently audit a firm that had grown into a multibillion-dollar operation. In 2007, Aksia LLC, a hedge fund consultant, warned its clients to stay away from Madoff for

text: against Merkin seeking to recover almost $500 million withdrawn from Madoff accounts in the last six years. The complaint alleges that since 1995, Merkin steered more than $1 billion to Madoff through three private hedge funds, Ascot Partners, Ariel Fund and Gabriel Capital. Since 2002, the funds withdrew at least $494 million from Madoff — returns that Merkin "knew or should have known" were fraudulent. As of May 18, 2009, Merkin's control of Ascot, Gabriel and Ariel hedge funds are to be placed into receivership for liquidation by Guidepost Partners. One receiver will be responsible for managing the remaining money,

text: money with him; accountants aren't allowed to audit broker-dealers with whom they're investing. He agreed to forfeit $3.18 million in accounting fees and withdrawals from his account with Madoff, as well as his three-story, 4,400-square-foot house in New City and one other property. Friehling faced a maximum sentence of 114 years in prison, but unlike Madoff has agreed to cooperate with the government. Calling himself a victim of Madoff, he faced a possible sentence of 20 years. In May 2015, U.S. District Judge Laura Taylor Swain sentenced Friehling to one year of home detention and one year of supervised release.

text: Stanley Chais, a philanthropist who invested heavily with Mr. Madoff, and Carl J. Shapiro, one of the money manager's oldest friends, are among at least eight Madoff investors and associates being scrutinized by the U.S. attorney's office in Manhattan. Prosecutors are continuing to probe Madoff family members and employees. Others include: Frank Avellino, a Florida accountant who ran an investment fund that invested client money; Noel Levine, a real-estate investor who works out of a two-room office on the 17th floor, next door to Madoff's fraudulent investment operation, and Palm Beach investor Robert Jaffe, a son-in-law of Mr. Shapiro who

text: Pickerstein. The pension fund case is "Retirement Program for Employees of the Town of Fairfield v. Madoff", FBT-CV-09-5023735-S, Superior Court of Connecticut (Bridgeport) On April 30, 2009, Peter demanded a $500,000 licensing fee as part of the sale of BLMIS for intellectual property used by the market-making business, but it was rejected by the bankruptcy trustee who maintains that the patents are the property of the business. Members of the Madoff family, including Madoff, own holding companies that own Primex LLC, which holds intellectual property licensed to the Nasdaq stock market. The patents are used for electronic trading. Senator Frank

title: NYC Media

text: New Jersey and Connecticut. WNYE-TV is carried on all area cable and satellite systems. NYC Media's main broadcast signal, WNYE-TV, reaches 7.43 million households (approximately 20 million people) in the New York City market, thus making it the fifth largest local television station in the United States. The main broadcast station is seen in the New York City area on channel 25 on all cable and satellite systems with the exception of Altice USA, where it is seen on channel 22. NYC Media operates four television channels: NYC life, NYC gov, NYC drive, and NYC world. Services on most of

title: Madoff investment scandal

text: ahead of schedule, from $200 million in assets that the firm still had. According to the complaint, Mark and Andrew, reportedly unaware of the firm's pending insolvency, confronted their father, asking him how the firm could pay bonuses to employees if it could not pay investors. At that point, Madoff asked his sons to follow him to his apartment, where he admitted that he was "finished", and that the asset management arm of the firm was in fact a Ponzi scheme – as he put it, "one big lie". Mark and Andrew then reported him to the authorities. Madoff intended

title: Madoff investment scandal

text: Madoff brothers gave $56,000 to SIFMA, and tens of thousands of dollars more to sponsor SIFMA industry meetings. In addition, Bernard Madoff's niece Shana Madoff was active on the Executive Committee of SIFMA's Compliance & Legal Division, but resigned her SIFMA position shortly after her uncle's arrest. She married former assistant director of the SEC's OCIE Eric Swanson, whom she had met in 2003 while he was investigating her uncle Bernie Madoff and his firm. The investigation concluded in 2005. In 2006 Swanson left the SEC and became engaged to Shana Madoff, and in 2007 the two married. A spokesman

title: Madoff investment scandal

text: wish to subject themselves to the jurisdiction of the U.S. courts. In September 2017 in a case before the Irish High Court, Thema International Fund agreed to pay $687 million to resolve a trustee lawsuit brought on behalf of the fraud victims resulting from Madoff's frauds. Madoff investment scandal The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernard Madoff, the former NASDAQ Chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was

title: Madoff investment scandal

text: launder more than $250 million of client money by transferring client money from the investment-advisory business in New York to London and then back to the U.S. to support the U.S. trading operation of Bernard L. Madoff Investment Securities LLC. Madoff gave the appearance that he was trading in Europe for his clients. On March 12, 2009, Madoff appeared in court in a plea proceeding, and pleaded guilty to all charges. There was no plea agreement between the government and Madoff; he simply pleaded guilty and signed a waiver of indictment. The charges carried a maximum sentence of 150 years

title: Madoff investment scandal

text: Building, with the investment management division, referred to as the "hedge fund", employing a staff of approximately 24. Madoff ran a branch office in London that employed 28 people, separate from Madoff Securities. The company handled investments for his family of approximately £80 million. Two remote cameras installed in the London office permitted Madoff to monitor events from New York. In 1992, Bernard Madoff explained his purported strategy to "The Wall Street Journal". He said the returns were really nothing special, given that the Standard & Poors 500-stock index generated an average annual return of 16.3% between November 1982 and

title: Madoff investment scandal

text: never-invested $10 million, deposited in a Madoff account at JPMorgan, wired six days before Madoff's arrest. Judge Lifland ruled that Rosenman was "indistinguishable" from any other Madoff client, so there was no basis for giving him special treatment to recover funds. The judge separately declined to dismiss a lawsuit brought by Hadleigh Holdings, which claims it entrusted $1 million to the Madoff firm three days before his arrest. Madoff asked others for money in the final weeks before his arrest, including Wall Street financier Kenneth Langone, whose office was sent a 19-page pitch book, allegedly created by the staff at

title: Madoff investment scandal

text: Madoff struggled to keep the scheme afloat. In November 2008, Madoff Securities International (MSIL) in London made two fund transfers to Bernard Madoff Investment Securities of approximately $164 million. MSIL had neither customers nor clients, and there is no evidence that it conducted any trades on behalf of third parties. Madoff received $250 million around December 1, 2008, from Carl J. Shapiro, a 95-year-old Boston philanthropist and entrepreneur who was one of Madoff's oldest friends and biggest financial backers. On December 5, he accepted $10 million from Martin Rosenman, president of Rosenman Family LLC, who later sought to recover the

title: Madoff investment scandal

text: trade group. The Madoff family has long-standing, high-level ties to the Securities Industry and Financial Markets Association (SIFMA), the primary securities industry organization. Bernard Madoff sat on the board of directors of the Securities Industry Association, which merged with the Bond Market Association in 2006 to form SIFMA. Madoff's brother Peter then served two terms as a member of SIFMA's board of directors. Peter's resignation as the scandal broke in December 2008 came amid growing criticism of the Madoff firm's links to Washington, and how those relationships may have contributed to the Madoff fraud. Over the years 2000–08, the two

title: Madoff investment scandal

text: for outsiders to understand". He was secretive about the firm's business, and kept his financial statements closely guarded. The "New York Post" reported that Madoff "worked the so-called 'Jewish circuit' of well-heeled Jews he met at country clubs on Long Island and in Palm Beach". (The scandal so affected Palm Beach that, according to "The Globe and Mail", residents "stopped talking about the local destruction the Madoff storm caused only when Hurricane Trump came along" in 2016.) "The New York Times" reported that Madoff courted many prominent Jewish executives and organizations; according to the Associated Press, they "trusted [Madoff] because

title: Madoff investment scandal

text: broker-dealer's account into his Ponzi scheme account. Eventually, he drew on $342 million from his broker-dealer's credit lines to keep the Ponzi scheme afloat through 2006. Markopolos wrote that he suspected Madoff was on the brink of insolvency as early as June 2005, when his team learned he was seeking loans from banks. By then, at least two major banks were no longer willing to lend money to their customers to invest it with Madoff. In June 2008, Markopolos' team uncovered evidence that Madoff was accepting leveraged money. To Markopolos' mind, Madoff was running out of cash and needed to

title: Madoff investment scandal

text: the impossibility of the strategy Madoff claimed to use because options volume had no relation to the amount of money Madoff was said to administer. The options volume implied that Madoff's fund had $750 million, while he was believed to be managing $15 billion. And only if Madoff was assumed to be responsible for all the options traded in the most liquid strike price. Charles J. Gradante, co-founder of hedge-fund research firm Hennessee Group, observed that Madoff "only had five down months since 1996", and commented on Madoff's investment performance: "You can't go 10 or 15 years with only three

title: Madoff investment scandal

text: Madoff. Markopolos' bosses at Rampart asked him to design a product that could replicate Madoff's returns. However, Markopolos concluded almost immediately that Madoff's numbers didn't add up. After four hours of trying and failing to replicate Madoff's returns, Markopolos concluded Madoff was a fraud. He told the SEC that based on his analysis of Madoff's returns, it was mathematically impossible for Madoff to deliver them using the strategies he claimed to use. In his view, there were only two ways to explain the figures—either Madoff was front running his order flow, or his wealth management business was a massive Ponzi