Wall Street fraud

Wall Street fraud

Wall Street fraudster Bernard Madoff 'dying of cancer'

CROOKED financier Bernard Madoff is dying of cancer, it was reported today.

Judge orders Madoff to hand back $170bn

BERNIE Madoff and his wife have been stripped of their wealth after a US judge ordered the disgraced Wall Street banker to hand over $170 billion (£103bn) to the authorities.

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Fraudster Bernard Madoff may be behind bars but he leaves investors asking who helped him with his scam and what he did with the cash

'MADOFF with all the money' was one rather droll pun doing the rounds last week as the world tuned in to watch the final demise of its largest ever fraudster.

Madoff in pictures: RBS's Madoff loss climbs to £600m

DISGRACED US financier Bernard Madoff yesterday admitted he was guilty of the biggest investor fraud in history. Pleading guilty to 11 charges that leave him facing a sentence of up to 150 years, Madoff said that he was "ashamed" following the collapse of his $64 billion (£46 billion) investment fund.

Madoff 'to plead guilty' on $50bn fraud

BERNARD Madoff, the American financier accused of an "unprecedented" $50 billion (£36 billion) swindle, is expected to plead guilty today to 11 charges that could put him in prison for the rest of his life.

Madoff to admit massive fraud and face 150-year prison term

DISGRACED financier Bernard Madoff could face a 150-year prison sentence after his lawyer yesterday indicated he would plead guilty to charges of fraud.

Judge shows shamed Enron chief mercy and jails him for six years

ANDREW Fastow, the former chief financial officer of Enron, whose apparent business wizardry was exposed as fraud and theft in the company's 2001 collapse, was sentenced to six years in prison yesterday.

NatWest Three trial likely to be delayed

THE NatWest Three will not be ready for trial in the United States in September because two of the former bankers are looking for new lawyers.

Wakeham to learn fate over Enron

LORD Wakeham, the former Conservative energy minister and Enron non-executive director, will find out within weeks whether he is to face charges from the US Securities and Exchange Commission (SEC) for failing to prevent the energy trader's management manipulating its accounts.

Smart money is on lost appeals

THE conviction last week of Kenneth Lay, the former Enron chairman, and Jeffrey Skilling, the company's former president, is likely to stand the test of lengthy appeals.

Enron's ruinous legacy

IF THE 1980s were the era of growth under the likes of Jack Welch and General Electric, the early years of the 21st century have a corporate face of their own: Kenneth Lay and his disgraced Enron corporation. The Enron scandal has played a key part in a reappraisal of American commerce. Enron, and other major corporate scandals such as WorldCom and Tyco International, revealed a class of plutocratic executives prepared to stop at nothing.

Enron boss Lay: My American nightmare

FORMER Enron chairman and chief executive Kenneth Lay took the witness stand at his criminal trial yesterday, declaring his innocence and telling the jury in Houston, Texas, he had been devastated when the company collapsed.

Worldcom chief facing jail

FORMER Worldcom chief Bernie Ebbers was yesterday found guilty of conspiracy and fraud in connection with the collapse of the telecoms company.

Watchdog bares its teeth to ward off financial scandals

A GLOBAL financial watchdog said it would boost its efforts to bring into line "uncooperative" national regulators who fail to implement international standards designed to help prevent a repeat of the financial scandals of recent years.

Trial hears of books cooked at WorldCom

WORLDCOM’S former boss Bernie Ebbers ordered adjustments to the company’s books, the telecoms firm’s ex-financial chief has testified at a fraud trial in the United States.

WorldCom's £28.7m bill

TEN former directors of WorldCom have agreed to a £28.7 million settlement of an investor class-action lawsuit that includes £9.6m from their own pockets, lawyers in the case said.

Lord Lang accused over Marsh fraud

LORD Lang of Monkton, a former secretary of state for Scotland, has become embroiled in a US class action over his role as a part-time director of Marsh & McLennan, the world’s largest insurance brokers, which has been accused of massive fraud.

Jail term starts for Enron wife

LEA FASTOW, the wife of former Enron chief financial officer Andrew Fastow, has handed herself in to begin a one-year jail sentence for her role in the accounting fraud that forced the company to seek bankruptcy protection in 2001.

Wall Street economist jailed for insider bond trade tip-off

A FORMER Goldman Sachs economist was sentenced to nearly three years in prison yesterday for using an insider bond tip that allowed the firm to make millions in tainted profits.

Putnam agrees £60m trading settlement

PUTNAM Investments has agreed to pay federal and state regulators $110 million (£60 million) to settle charges that its managers and clients engaged in market timing - the improper rapid trading of mutual fund shares.

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