Graeme Hoy, the Geelong-based mastermind of Chartwell Enterprises, was sentenced to 13 years jail, in what was claimed to be the longest ever white-collar term of imprisonment in Australia.
Bernie Madoff
US grabs Gupta, the big fish of insider trading
Overnight the US Securities and Exchange Commission revealed it had fingered one of the most senior people in the American business establishment on insider trading charges.
Political snippets: Rudd’s non-Beijing link
One of my old mates is probably not surprised by the hard line on China that Kevin Rudd is shown to have taken in his discussions with Secretary of State Hillary Clinton.
Buy Bernie Madoff’s embroidered velveteen slippers
Get ready for ‘flog off everything failed investor Bernie Madoff owned: the intimate edition’. Now his old suits, leopard print loafers and even a pair of pleated boxer shorts (yes, pleated) are going under the hammer. With 150 years of jail time pending, he no longer has use for them.
ATO adds to Gore’s ponzi sheme accusation woes
The official liquidator appointed by the Supreme Court of NSW, accused Craig Gore (and co-director John Atkinson) of operating a ponzi scheme and misleading investors.
Crikey Says: The banks, like Bernie, don’t give a rat’s
It’s always fun to read about American fraudster Bernie Madoff — mostly because he’s one of the few headline acts of the GFC who didn’t get away with it.
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Madoff on the inside
Disgraced former stockbroker Bernie Madoff is now sitting in a gaol cell in North Carolina, angrily insulting the investors that made him rich, blaming them rather than taking any personal responsibility.
Property prices: the weak end at Bernie’s effect
While agents put price rises down to shortages and New York Ponzi schemes, the more likely reason is that Australians pay too much for property using too much debt.
Meet Madoff’s minions
More than a year after Ponzi schemer Bernie Madoff’s arrest, many of his offsiders and possible accomplices are still living it up on the outside. Mother Jones has a great (and wonderfully illustrated) guide to “Madoff’s minions”.
Bernie Madoff sells off his fat gold watch collection
Bernie Madoff was mad for watches, and 46 of them were sold at yesterday’s fire sale of his possessions. Check out all of them here — including his suite of Rolexes, a favourite brand — plus their estimated price and what they actually fetched.
PHOTO GALLERY: Bernie Madoff’s garage sale
Convicted Ponzi schemer Bernie Madoff’s personal affects are going on the auction block next week in an effort to repay his victims some of their financial losses. Check out the catalogue of crap you can bid on, including boogie boards, golf umbrellas and a life bouy.
Hedge fund operators fiddled while investors burned
The secretive world of hedge funds disclosure has been exposed in a report published in the US, which reveals that up to half of funds and managements lied in their disclosure to customers and investors.
Maddoff’s offsider tells all
Jailed Ponzi schemer Bernie Madoff’s chief financial officer, Frank DiPascali, has appeared in court, detailing how he helped Madoff pull off one of the biggest scams in the history of Wall Street.
Tales from Bernie Madoff’s Centurion credit card
What can we learn about the lifestyles and travels of the super rich from Bernie Madoff’s credit card statements? Elite Traveler investigates.
How Madoff got his money
How did Bernie Madoff go from a shabby house in Queens, to ending up a convicted felon who defrauded billions of dollars? Jerry Oppenheimer explains.
Ruth Madoff facing $45m lawsuit
A trustee attempting to recover money for investors duped by Bernie Madoff’s Ponzi scheme is suing his wife, Ruth Madoff, for $44.8 million, claiming that although she wasn’t implicated in the fraud, she reaped the profits with a life of luxury.
Buff Bernie speaks from behind bars
Convicted Ponzi schemer Bernie Madoff has given his first interview from the slammer, via a lawyer. Reportedly looking fit from “working out”, Madoff said he was surprised he got away with his scam for so long and detailed exactly how he pulled it off.
Financial ignorance enabled Madoff’s scam
Financial education should be part of the school curriculum, argues Hadley Freeman, otherwise we’re all dupes-in-waiting for the next Bernie Madoff.
Madoff: I won’t appeal
Bernie Madoff’s lawyer tells The Daily Beast that the Ponzi schemer won’t be appealing his 150-year jail sentence, saying there’s no point: “If the court were to say, ‘150 years is excessive, but 40 years is not,’ what’s the point? …He is not going to walk out of prison at age 106.”
What did Ruth Madoff ever do to you?
With no PR advice aside from her lawyers’, Bernie Madoff’s wife Ruth has been maligned more than any other Wall Street criminal’s wife in memory, writes Sheelah Kolhatkar. But is it justified?
Madoff hires help to find the comfiest jail
Bernie Madoff has hired a “veteran prison consultant” to help find him the best possible prison in which to serve his 150-year jail term.
Madoff and Michael: the media circus is in town
The double feature of Michael Jackson’s death and Bernie Madoff’s imprisonment may have had us riveted, but the coverage went well beyond the parameters of acceptable journalism, argues Jon Friedman.
Madoff’s life in the clink
A great interview Alan Ellis, lawyer and author of the Federal Prison Guidebook about his surprise at Bernie Madoff’s 150-year sentence — and what happens next.
Wolff: How many more years did Madoff get for being Jewish?
Bernie Madoff is Jewish. Most of the people he ripped off are Jewish. Did it affect his sentencing? Michael Wolff sure reckons so.
Madoff’s conviction is no example of American justice
Let’s not kid ourselves that Bernie Madoff’s conviction and jailing somehow is testimony to speedy and swift American justice.
