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Arthur Nadel Indicted
Florida fund manager Arthur Nadel was indicted Tuesday on criminal charges for allegedly soliciting hundreds of millions of dollars in investor money under false pretenses and misappropriating client...
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You’re a Victim of a Ponzi Scheme, But What About Your State Taxes?
You missed the warning signs and got suckered into a Ponzi scheme. The IRS offered some tax relief for long-term Ponzi scheme investors (like some of the Madoff victims) who have paid taxes on gains...
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How Did Madoff Go Bad?
Last Friday, the SEC published the exhibits for Investigation of Failure of the SEC to Uncover Bernard Madoff’s Ponzi Scheme (Report No. OIG-509). That was 536 separate exhibits tying to fill in the...
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SEC Censure for Failing to Conduct Due Diligence
The SEC censured and fined an investment adviser for due diligence lapses. Yosemite Capital Management, LLC and its managing director, Paul H. Heckler, got a wrist slap for failing to disclose to...
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Dealing with Losses From the Madoff Fraud
Charles Ponzi One of the many repercussions of the Madoff fraud is how to treat investors who had money in his Ponzi scheme. There has been plenty written about how the trustee is treating the direct...
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The New Face of Evil?
The New Face of Evil? His crime was simple: collect money from investors, fake the returns, pocket the money, and repeat. His crime was the biggest: $20 billion in cash plus $45 billion of fake...
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The Amish Madoff
The Securities and Exchange Commission filed charges against Monroe L. Beachy, a 77-year-old Amish man from Sugarcreek, Ohio. They found the Bernie Madoff of the Amish. Beachy targeted his fellow...
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Was Full Tilt Poker a Ponzi Scheme?
The United States Government forced online poker sites to the fringes of the financial system. The U.S. government has long argued that online poker gambling is illegal under the Wire Act, a 1961 law...
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How Do You Exit a Ponzi Scheme?
Charles Ponzi It looks like Bernie Madoff was $45 billion short of funds in his “investment strategy.” How was he ever going to get out of this? The original Ponzi schemer, Charles Ponzi, seems to...
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Shkreli Gets His Holiday Gift… Handcuffs
One of the most hated men in American business was grabbed by the FBI and put in handcuff. The Securities and Exchange Commission slapped a “me too” suit on him as well. Martin Shkreli did the perp...
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