SEC Identifies Two Smaller Ponzi Schemes

January 9th, 2009 • No Comments

Thursday, the SEC charged a Philadelphian investment manager - Joseph Forte, 53 - saying he was running a $50 million Ponzi scheme - over a period of about a decade. Continue reading ‘SEC Identifies Two Smaller Ponzi Schemes.’

NY Court Pushed to Jail Madoff

January 6th, 2009 • No Comments

After a number of legal analysts published attacks on the financial legal system - suggesting that the worst financial punishment which Bernard Madoff, the financier of the now infamous Ponzi scheme, would face was a fine of $1 million U.S - a mere drop compared to the $50 billion it is estimated Madoff may have stolen from investors. Continue reading ‘NY Court Pushed to Jail Madoff.’

Madoff Releases Asset List to SEC

January 1st, 2009 • No Comments

The SEC’s demand last week for Bernard Madoff to release a list of all assets managed and owned by his firm, the now well-known alleged Ponzi scheme attacked last month has finally been honored - the SEC, however, still is far away from determining where the embezzled funds disappeared to. Continue reading ‘Madoff Releases Asset List to SEC.’

SEC: UnitedHealth Group Backdating Stock Options

December 28th, 2008 • No Comments

A complaint by the SEC alleges the Minneapolis-based health insurance company UnitedHealth Group to have committed financial crimes related to backdating stock options worth over $1 billion. Continue reading ‘SEC: UnitedHealth Group Backdating Stock Options.’