Enrica Cotellessa-Pitz, who worked for Madoff for three decades, is testifying against five former colleagues in exchange for leniency.
Manhattan U.S. Attorney Preet Bharara said Monday that more than 10,000 people whose indirect investments with Bernard Madoff prevented them from eligibility for billions of dollars will get to make claims against a $2.35 billion fund.
The trial against five of Bernard Madoff’s former employees continued Wednesday with testimony from consultants who investigated the firm following Madoff’s arrest.
FBI Agent Theodore Cacioppi said he interviewed Bernard Madoff for about an hour before arresting him. The office was then placed under surveillance so evidence could be removed.
The trial follows the 2008 collapse of Madoff’s private investment business, which cost clients nearly $20 billion. A court-appointed trustee has recovered much of the money by forcing those customers who received big payouts from Madoff to return the funds.
Prosecutor Matthew Schwartz introduced the government’s case Wednesday, saying the defendants “helped perpetuate Madoff’s elaborate fiction.” The Manhattan federal court trial is expected to last five months.
Five former employees of imprisoned Ponzi scheme operator Bernard Madoff were introduced to 200 prospective jurors Tuesday, as jury selection began in their fraud trial.
Paul Konigsberg was charged with conspiracy to falsify records, conspiracy to commit fraud, falsifying records of a broker-dealer, falsifying record of an investment adviser and falsifying statements.
The 1935 mansion has five bedrooms, five bathrooms, a tennis court, swimming pool and pool house.
The appeals court said the Securities and Exchange Commission’s actions and “regrettable inaction” are shielded by rules protecting government employees from lawsuits when they carry out a discretionary function or duty.
Alex Rodriguez will make more this year than all the Houston Astros combined — a lot more. And he won’t even play the first half of the season, if at all.
Spring training is all about optimism, and Mets owner Fred Wilpon delivered a large dose of it Wednesday in Port St. Lucie.
The prison-bound brother of convicted Ponzi scheme operator Bernie Madoff attended his granddaughter’s bat mitzvah in a space described as “posh” this weekend, after a judge delayed his lockup date for the occasion.
One month before beginning his 10-year presence sentence, Peter Madoff – the brother of convicted Ponzi scheme operator Bernie Madoff – has sold his posh Park Avenue home, according to a published report.
The Attorney General’s office investigation revealed that Ivy had deep suspicions about Madoff’s operation but never informed its clients.