‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInSecurities Docket News Wire for Dec. 12, 2008
SEC Investigated Madoff in 1992 for Ponzi Scheme, Did Not Pursue a Case. http://is.gd/brZd # “How We Knew Bernie Madoff Was A Fraud” (Aksia client letter). http://tinyurl.com/6g94by # First Class Action Filed Against Madoff and Firm in EDNY. http://is.gd/bpv4 # Siemens AG Agrees to Pay $800 Million to Settle SEC and DOJ Corruption Charges. http://is.gd/bppe […]
SEC Investigated Madoff in 1992 for Ponzi Scheme, Did Not Pursue a Case
The New York Times has an article today stating that SEC investigated Mr. Madoff and two accountants who raised money for him in 1992, believing they might have found a Ponzi scheme. “We went into this thing just thinking it might be a huge catastrophe,” an S.E.C. official told The Wall Street Journal in December […]
Web Watch: Best Blog Posts and Columns For the Week Ending Dec. 12
Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”): ROBERT AMBROGI, BULLSEYE NEWSLETTER (Dec. 10, 2008): Legal Tsunami Is Coming, Batten Down the Experts The times may be uncertain, but the forecast is clear: a tsunami of litigation is headed our way, and at its center will […]
First Class Action Filed Against Madoff and Firm in EDNY
A putative class action against Bernard Madoff and his firm was filed on Friday in the U.S. District Court for the Eastern District of New York. Dow Jones Newswires reports that the lawsuit closely mirrors criminal charges filed by federal prosecutors and a civil complaint filed by the SEC on Thursday. According to the article, […]
Siemens AG Agrees to Pay $800 Million to Settle SEC and DOJ Corruption Charges
Siemens AG has agreed to pay $800 million to settle SEC and DOJ charges that it violated anti-corruption laws by paying $1.36 billion in bribes to government officials worldwide. Bloomberg reports that the DOJ filed a criminal information filed today in Washington alleging that Siemens “knowingly used off-book accounts to conceal corrupt payments, mischaracterized bribes […]
Video: “I Knew Bernie Madoff Was Cheating, That’s Why I Invested with Him”
Interesting video from Henry Blodget who says that he is hearing “that the smart money KNEW Bernie had to be cheating, because the returns he was generating were impossibly good. Many Wall Streeters suspected the wrong rigged game, though: They thought it was insider trading, not a Ponzi scheme. And here’s the best part: That’s […]
Former Peregrine Systems CEO Sentenced to 97 Months in Prison
United States District Court Judge Thomas J. Whelan sentenced Stephen Parker Gardner, former CEO of Peregrine Systems, Inc., today in San Diego to 97 months in prison. Gardner was convicted on charges of conspiracy, securities fraud, and obstruction of justice related to an alleged scheme to manipulate Peregrine’s revenue and earnings figures. According to an […]
WSJ Video: Multiple Red Flags in Madoff Case
The WSJ has this video today discussing multiple red flags about Bernard Madoff’s operation, including an obscure auditor and too-good-to-be true returns.
Former Entellium CEO Paul Johnston Pleads Guilty to Wire Fraud
Former Entellium CEO Paul Johnston pleaded guilty to one charge of wire fraud yesterday afternoon in the U.S. District Court for the Western District of Washington. TechFlash reports that Johnston is expected to be sentenced to between 4 and 5 years in prison under the terms of the agreement with prosecutors. Johnson is to remain […]
One More Entity That’s None-too-Pleased Today: Madoff Securities International in London
Among the many entities today that are less-than-pleased with Bernard Madoff’s Madoff Investment Securities LLC is a company in London that happens to be named “Madoff Securities International.” As stated in this release today: MADOFF SECURITIES INTERNATIONAL LTD * says not in any way part of Bernard L Madoff Investment Securities LLC * says business […]