LexisNexis® Legal Newsroom
Madoff Anniversary: Scam Takes Additional Toll

Saturday, December 11, 2010 was the two-year anniversary of the day when Bernie Madoff's sons, Mark and Andrew, contacted law enforcement officials to notify them that their father was running the largest Ponzi scheme in history. On this same day, Bernie and Ruth's oldest son, Mark, decided he...

Phoenix Man Charged with $1 Million Ponzi Scheme

An Arizona man was arrested and charged with operating a Ponzi scheme that cost its victims over $1 million. Allen Leroy Kayser, 60, was arrested by Arizona state police and charged with nine counts of securities fraud, five counts of first-degree theft, two counts of racketeering, and selling unregistered...

Former Pastor Pleads Guilty in Multi-Million Dollar Jewelry Ponzi Scheme

A Virginia man and former pastor entered a guilty plea to charges that he operated a Ponzi scheme under the guise of a legitimate jewelry business. Matthew James Addy, 34, of Lancaster, Pennsylvania, pled guilty to a single charge of securities fraud, which carries a maximum sentence of up to twenty...

Former Youth Pastor Gets 51 Months in $3.4 Million Jewelry Ponzi Scheme

A former youth pastor was sentenced to serve 51 months in federal prison for masterminding a Ponzi scheme purporting to buy and sell precious jewels. Matthew James Addy, 34, received the sentence from United States District Judge James C. Cacheris after previously pleading guilty to a single count...

Trial Set to Begin Tuesday for Madoff Employees

Five of Bernard Madoff's closest employees are set to begin trial on Tuesday to face charges that they played key roles in assisting Madoff orchestrate the largest Ponzi scheme in history. Jury selection is set to begin Tuesday for the five, who consist of three of Madoff's most tenured employees...