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Securities Docket News Wire for Dec. 12, 2008

By on December 12, 2008, 11:59 pm

  • 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 #
  • Video: “I Knew Bernie Madoff Was Cheating, That’s Why I Invested with Him” http://is.gd/bpi1 #
  • Harry Markopolos wrote SEC in 1999: “Madoff Securities is the world’s largest Ponzi Scheme.” http://is.gd/boUZ #
  • SEC Receiver for Dreier LLP: “Very unlikely” firm will meet its payroll committment on December 15, 2008. http://is.gd/bogA #
  • Former Peregrine Systems CEO Sentenced to 97 months in Prison for Conspiracy, Securities Fraud, and Obstr. of Justice. http://is.gd/bo8f #
  • Former Entellium CEO Paul Johnston Pleads Guilty to Wire Fraud. http://is.gd/bnHn #
  • Securities class action filed against Goldman Sachs regarding mortgage-backed securities underwriting standards. http://is.gd/bnr0 #
  • May 2001 article by Michael Ocrant: “Madoff tops charts; skeptics ask how” http://is.gd/bm5v #
  • 2005 letter to SEC from Harry Markopolos: “Bernie Madoff’s returns aren’t real….” http://is.gd/bm5w #
  • Madoff arrest prompts spontaneous applause in office of competitor tired of losing clients to his “impossible” returns. http://is.gd/bloS #
  • CNBC Video: CNBC’s Charlie Gasparino on “Tons of Red Flags” in Madoff Case. http://is.gd/bliT #
  • Madoff’s Sons Turned Him In After He Allegedly Told Them His Investment-Advisory Business Was “Giant Ponzi Scheme”. http://is.gd/blcF #
  • Madoff Update: 2001 Barrons article cited dozen hedge fund pros questioning why no one could duplicate Madoff’s returns. http://is.gd/bkTz #
  • Madoff Update: Due Diligence Firm Saw Red Flags, Recommended Against Investing With Firm. http://is.gd/bktz #
  • Madoff Update: Fairfield Greenwich, Kingate Management, Fix Asset Management Among Largest Clients. http://is.gd/bktk #
  • Madoff’s auditor, Friehling & Horowitz, operated from a 13-by-18-foot office in Rockland County, New York. http://is.gd/bkjN #
  • New Evidence Emerges in SEC’s Pequot Capital Management Case; FBI Reportedly Involved. http://is.gd/bjBr #
  • Madoff to FBI: “There is no innocent explanation.” http://is.gd/bjsF #
  • Madoff firm had between 11 and 25 clients for FY ending Oct. 2007 and managed about $17B in assets in 23 different accts. http://is.gd/bjoK #
  • Madoff had relatively few clients, average loss may be $2.0-$4.5 billion each. http://is.gd/bhzW #
  • Senators Demand Answers About Pequot Payments to Former Employee Who Was Witness in High-Profile SEC Probe. http://is.gd/bjiO #
  • Japan’s SESC Recommends UK’s FSA Fine Ex-Goldman Employee for Insider Trading related to tender offer for REX Holdings. http://is.gd/bjhu #
  • Bernard Madoff Arrested for Ponzi Scheme of “Epic Proportions.” http://is.gd/bgLD #

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