SEC Freezes Assets of Bruce Friedman, Real Estate Fraud

March 5th, 2009 • 1 Comment

The Securities and Exchange Commission reported Thursday a charge on Los Angeles resident Bruce Friedman, for his companies, the LA-based Diversified Lending Group, Inc. and the Applied Equities, Inc. for securities fraud, obtaining an emergency court order to freeze all related assets and halt an ongoing fraudulent investment scheme. Continue reading ‘SEC Freezes Assets of Bruce Friedman, Real Estate Fraud.’

Bernard Madoff 2009: Ponzi Extraordinaire

March 2nd, 2009 • No Comments

The story — investment “master,” Bernard Madoff with his firm Bernard Madoff Investment Securities was revealed by the S.E.C. in December to be a complete fraud, specifically using the terms “stunning fraud of epic proportions.” Continue reading ‘Bernard Madoff 2009: Ponzi Extraordinaire.’

SEC Defends Itself Under Madoff Allegations

January 28th, 2009 • No Comments

The Securities and Exchange Commission’s director spoke to a Senate committee Tuesday to defend itself against allegations that the agency was neglectful or otherwise misresourceful in the Madoff case, which was marked by a number of failures to detect the large Ponzi scheme. Continue reading ‘SEC Defends Itself Under Madoff Allegations.’

Judge to Litt: Madoff House Arrest Stands

January 12th, 2009 • No Comments

Last week, prosecutor Marc Litt in the Madoff Ponzi case called a complaint of private dissipation of Madoff’s assets, Magistrate Judge Ronald Ellis in Manhattan today denied the request, saying that Madoff will be held as the original terms agreed: under house arrest in his $7 million U.S. Manhattan apartment, on bail. Continue reading ‘Judge to Litt: Madoff House Arrest Stands.’