Daily Archives: September 18, 2013, 4:39 pm

Five-Year Anniversary of Madoff Revelations May Spur Additional Charges – Compliance Week

It is hard to believe that it has almost been five years since the revelation that Bernard Madoff’s wildly successful investment firm was actually a multibillion-dollar Ponzi scheme, but the five-year anniversary of Madoff’s December 2008 confession to authorities is fast approaching. Because securities fraud charges have a five-year statute of limitations, the next few months could bring charges against additional individuals…

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U.S. commission reviews white-collar sentences — Reuters

As the U.S. government remains under pressure to hold individuals accountable for the financial crisis, a federal commission is launching a review that could actually reduce sentences for white-collar criminals. Those pushing for lighter sentences for white-collar offenses such as securities, healthcare and mortgage fraud include not only the American Bar Association, the nation’s largest trade group for lawyers, but…

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More than $2 billion for Madoff victims is still in limbo — CNN Money

SEC veteran and hedge fund founder Richard Breeden, who was appointed by the U.S. Department of Justice in December of 2012 as “special master” of $2.35 billion in forfeited assets, announced a delay in the distribution of those funds to victims of Madoff’s scheme. Breeden is having trouble distinguishing Madoff “victims” from “customers,” which is stymieing the process of returning…

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