The D.C. Circuit rejected efforts by the SEC to compel the Securities Investor Protection Corporation to liquidate a broker-dealer that was part of the Stanford Ponzi scheme empire. The investors had purchased CDs from an off-shore Stanford entity. The...
The fees paid to fraud professionals such as attorneys,
consultants and accountants to clean up the mess that Bernie Madoff's famous
Ponzi scheme left is projected to reach over $1 billion! According to the
Washington Post the fees paid to such...
Irving Picard, the trustee in the Madoff case, was in
court last week as a panel of three judges heard arguments on whether net
winners in the Madoff case ought to be able to collect money from the
government. Net winners are those who took more cash...
In a likely unprecedented move, the Securities and
Exchange Commission ("SEC") filed
a lawsuit against the Securities Investor Protection Corporation
("SIPC") as the culmination of a six-month effort to force SIPC to
A federal judge has denied an attempt by the Securities and Exchange Commission ("SEC") to force an industry-funded nonprofit to institute a claims process for the victims of R. Allen Stanford's $7 billion Ponzi scheme. United States District...