LexisNexis® Legal Newsroom
Ponzi Scheme is Money Laundering - No Directors And Officers Insurance Coverage for Robert Stanford Fraud

HOUSTON -- (Mealey's) Insurers have proven that their policies' money laundering exclusion precludes coverage for directors and officers insureds' defense costs in underlying criminal and SEC litigation involving the alleged Stanford Ponzi scheme, a Texas federal judge held Oct. 13, granting...

Clawbacks From "Madoff" Style Ponzi Schemes - Searching For Deep Pockets During Economic Uncertainty

by Sidney Goldstein Excerpt: With the first glimmer of a revival in the credit markets, many of us are quick to forget the tough lessons learned during the crisis period. One such lesson is the havoc that can be created by an aggrieved creditor's and in some instances a borrower's search...

$1 Billion Settlement Reached With 2nd-Largest Madoff Feeder Fund

NEW YORK - (Mealey's) Liquidation trustee for Bernard L. Madoff Investment Securities LLC (BLMIS) Irving H. Picard and 30 investment funds and affiliates of money management company Tremont Group Holdings Inc. have agreed to settle claims associated with the defendants' participation in Madoff's...