Search results for ""Madoff""



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Biglari Holdings Urges Shareholders to Protect Their Investment from Groveland

SAN ANTONIO---- Biglari Holdings Inc. today released an open letter to shareholders regarding the Company' s 2015 Annual Meeting of Shareholders, to be held April 9, 2015. A small hedge fund, Groveland Capital LLC, which has disclosed a diminutive ownership stake in the Company of approximately 0.167%, is attempting to replace the entire Board of Directors of...
Source: Business Wire
SIPC: Madoff Trustee's Major Settlement with Defender Feeder Fund Shows Importance of "Clawback" Tool in Recovery Process

The use of this recovery tool by Picard and future Securities Investor Protection Act trustees is now at risk under a Second Circuit Court of Appeals ruling that is the subject of petitions for certiorari by SIPC and Picard to the U.S. Supreme Court. SIPC President Stephen Harbeck said: "This settlement is one of many recent significant additions to the...
Source: PR Newswire
Darrell Issa Previews MADOFF Transparency Act at Financial Regulation Summit

WASHINGTON, March 24, 2015/ PRNewswire-USNewswire/-- During the opening session of the Data Transparency Coalition's Financial Regulation Summit, Rep. The bill specifically affects the Treasury Department, the Securities and Exchange Commission, and the other seven member agencies of the Financial Stability Oversight Council: the Federal Deposit...
Source: PR Newswire
Madoff feeder fund settles; victims' recovery tops $10.6 billion

NEW YORK, March 23- The trustee recovering money for Bernard Madoff's victims on Monday announced a settlement to recoup $93 million from a "feeder fund" that sent client money to the swindler's firm, boosting the total sum raised to roughly $10.65 billion. Irving Picard, the trustee, said the settlement calls for the Defender Ltd feeder fund to receive a $522.8...
Source: Reuters | By: Jonathan Stempel
Recovery Agreement Reached with Defender Feeder Fund BLMIS Customer Fund to Benefit by $93 Million

NEW YORK---- Press release from the office of Irving H. Picard, SIPA Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC. Irving H. Picard, Securities Investor Protection Act Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC, filed a motion today in the United States Bankruptcy Court for the Southern District of New...
Source: Business Wire
The SEC is examining my advisor. Should I worry?

As part of its consumer protection mission, the SEC has implemented an examination program that all SEC-registered investment advisors must undergo.
Source: CNBC.com | By: Brian Hamburger, founder and CEO of MarketCounsel
Polygraph Test Now Used to Protect Investors From Fraud

LOS ANGELES, March 23, 2015/ PRNewswire/-- In the 2014 fiscal year, irs.gov recorded over $100 million in Federal fraud case conviction losses. Investor Mark Saint Juste along with former Federal Agent and polygraph expert Joe Paolella partnered to administer the test in a new way: BEFORE the financial crime occurs. To help secure investors and institutions from...
Source: PR Newswire
US Attorney Preet Bharara faces setbacks amid NY success run

NEW YORK- It was bad enough that New York's most famous prosecutor, Preet Bharara, lost in the sweepstakes to become the next U.S. attorney general nominee to a fellow federal prosecutor from his own city. Could it be a dimming of the star prosecutor who once made the cover of Time magazine, who has been widely praised for his tough talk about insider trading on Wall...
Source: The Associated Press | By: By LARRY NEUMEISTER, Associated Press
Why is the SEC still so low-tech?

The SEC's entire corporate-disclosure operation is based on the written document. That's a huge problem, says this watchdog.
Source: CNBC.com | By: Hudson Hollister, executive director of the Data Transparency Coalition
SIPC Joins Madoff Trustee In Petitioning U.S. Supreme Court To Overturn Roadblock To Recovery Of Fictitious Profits

Both parties, SIPC and Trustee Picard, argue that the ruling, if left intact, would unduly inhibit any future SIPA trustee from recovering payments made to customers who unwittingly may have profited from such a Ponzi scheme or other fraud. SIPC President Stephen Harbeck said: " SIPC believes that the trustee has the authority, as a matter of law, to recover certain...
Source: PR Newswire