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Legal News
11 Aug 2015
by Valerie Howell

[JURIST] A judge for the United States District Court for the Southern District of New York [official website] ruled [opinion, PDF] on Friday that New York City's regulation of the banking industry through the Responsible Banking Act [text, PDF] is unconstitutional. The Act was passed by New York's City Council … [read more]


Legal News
6 Aug 2015
by Taylor Brailey

[JURIST] A judge for the United States District Court for the Southern District of New York [official website] on Wednesday sentenced Irwin Lipkin, a former controller of Bernard L. Madoff Investment Securities, to six months in prison for his involvement in Bernard Madoff's [JURIST news archive] multi-billion-dollar Ponzi scheme. Lipkin … [read more]


Legal News
19 Aug 2014
by Kimberly Bennett

[JURIST] A judge for the US District Court for the District of Minnesota [official website] on Monday approved a settlement for $62.5 million between Wells Fargo & Co [corporate website] and large institutional clients who lost money in an investment program known as securities lending. US District Judge Donovan Frank … [read more]


Legal News
26 Jun 2014
by Dominic Yobbi

[JURIST] A former accountant for Bernard Madoff [JURIST news archive] pleaded guilty [press release] Tuesday to charges connected to Madoff's multibillion dollar Ponzi scheme. Paul Konigsberg, a 78-year-old former senior tax partner at Konigsberg Wolf & Co and the last defendant in the Madoff prosecutions, pleaded guilty to one count … [read more]


Legal News
11 Jun 2014
by Peter Snyder

[JURIST] The US Court of Appeals for the District of Columbia Circuit [official website] on Tuesday rejected [opinion, PDF] Wells Fargo & Co's [corporate website] contention that the bank's participation, along with other national banks, in a $25 billion settlement with the US government over foreclosure abuses [JURIST report] should … [read more]


Legal News
25 Mar 2014
by Bradley McAllister

[JURIST] A federal jury in the US District Court for the Southern District of New York [official website] on Monday returned a guilty verdict for five former associates of Bernard Madoff [JURIST news archive] on charges they aided and profited from the Ponzi scheme that defrauded billions of dollars from … [read more]


Features
10 Feb 2014
by G. Redd

Bankruptcy is a process through which a person who is unable to pay his or her debts is granted relief from the courts by undergoing a supervised step-by-step repayment plan; many debts are partially paid as fairly as possible with the assets that the debtor has. Many small US cities … [read more]


Legal News
9 Jan 2014
by Amy Mathieu

[JURIST] A judge for the US District Court for the Southern District of New York [official website] approved a deal on Wednesday between the US Attorney's Office for the Southern District of New York [official website] and JPMorgan Chase [corporate website] to settle the criminal charges of failure to report … [read more]


Legal News
7 Jan 2014
by Bradley McAllister

[JURIST] The US Attorney's Office for the Southern District of New York [official website] entered into a deferred prosecution agreement [text, PDF] with JP Morgan Chase & Co. [corporate website] on Tuesday, which stipulates the bank will pay $1.7 billion to the US government for its role in the Bernard … [read more]


Legal News
11 Sep 2013
by G. Redd

[JURIST] A judge for the US Bankruptcy Court for the Southern District of New York [official website] ruled [text, PDF] Tuesday that victims of the Bernie Madoff Ponzi scheme [JURIST news archive] can only recover the principal amount invested without accounting for inflation over the past five years. Under the … [read more]


Legal News
10 Apr 2013
by Michael Haggerson

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Wednesday affirmed the dismissal [opinion, PDF] of a suit by victims of the Bernie Madoff [JURIST news archive] Ponzi scheme against the US Securities and Exchange Commission (SEC) [official website]. The Madoff victims had argued that the … [read more]


Legal News
5 Mar 2013
by Dan Taglioli

[JURIST] A special court in Afghanistan on Tuesday sentenced 20 men to four to five years in prison for their involvement in the USD $935 million fraud that led to the 2010 collapse of Kabul Bank. Founder and former chairman Sherkhan Farnood and former chief executive officer Khalilullah Ferozi were … [read more]


Legal News
29 Jan 2013
by Dan Taglioli

[JURIST] The US Court of Appeals for the Ninth Circuit [official website] on Monday refused to reinstate [opinion, PDF] a lawsuit against the US Securities and Exchange Commission (SEC) [official website] by investment fraud victims of disgraced financier Bernard Madoff [JURIST news archive]. The investors had sued the SEC under … [read more]


Legal News
21 Dec 2012
by Jaclyn Belczyk

[JURIST] Peter Madoff [Bloomberg profile], brother of disgraced financier Bernard Madoff [JURIST news archive] was sentenced Thursday to 10 years in prison [press release] for his role in Bernard Madoff's multibillion dollar Ponzi scheme. He pleaded guilty [JURIST report] to charges including conspiracy to commit securities fraud, tax fraud, mail … [read more]


Legal News
9 Nov 2012
by Arjun Mishra

[JURIST] Irwin Lipkin, a former controller of Bernard L. Madoff Investment Securities LLC, (BLMIS) pleaded guilty [press release] in a Manhattan federal court Thursday to falsifying records. The full range of charges [text, PDF] to which Lipkin has pleaded guilty include conspiracy to commit securities fraud, to make false filings … [read more]


Legal News
26 Jul 2012
by Rebecca DiLeonardo

[JURIST] Madoff trustee Irving Picard has asked a bankruptcy court to approve the release of between $2.5 and $3.5 billion in recovered assets so that it can be distributed to victims of the Bernard Madoff [JURIST news archive] Ponzi scheme. Picard has recovered over $9 billion in assets on behalf … [read more]


Legal News
29 Jun 2012
by Sung Un Kim

[JURIST] Peter Madoff [Bloomberg profile], brother of disgraced financier Bernard Madoff [JURIST news archive] pleaded guilty [press release] Friday on charges connected with Bernard Madoff's multibillion dollar Ponzi scheme. He agreed to serve 10 years in prison and give up all of his assets in exchange for permission to remain … [read more]


Legal News
26 Jun 2012
by Jamie Davis

[JURIST] A New York judge on Friday approved a $410 million settlement agreement [press release] between hedge fund manager Ezra Merkin and the state of New York in a lawsuit connected with the Bernard Madoff Ponzi scheme [JURIST news archive]. New York state brought suit against Merkin in 2009, accusing … [read more]


Legal News
8 Jun 2012
by Sarah Posner

[JURIST] Federal prosecutors urged a judge on Wednesday to give Allen Stanford [BBC profile; JURIST news archive] the maximum sentence of 230 years in prison for his involvement in a $47 million Ponzi scheme. This would be the maximum sentence [Reuters report] under federal sentencing guidelines and 90 more years … [read more]


Legal News
21 Mar 2012
by Katherine Getty

[JURIST] The US Court of Appeals for the Fifth Circuit [official website] ruled [opinion, PDF] Monday that victims of the $7 million Ponzi scheme orchestrated by Allen Stanford [BBC profile, JURIST news archive] may pursue a class action lawsuit. Stanford was convicted of defrauding victims in America and in Latin … [read more]

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