Economic Recovery Threatened By World Wide Corruption
Posted on December 6, 2009 by admin in Finance, Society
Transparency International’s annual report on worldwide corruption has revealed that inadequate laws expose whistle blowers and hinder the fight against corruption. The worst offending countries were Somalia, Afghanistan,Myanmen and Sudan.The least corrupt country was New Zealand,followed by Sweden,Findland,Australia and Canada. Read more specific incidents on corruption including Saddam Hussein’s withdrawal of $1b the day before [...]
Madoffs Family Being Sued
Posted on October 4, 2009 by admin in Society
Madoff’s family who all worked at the ‘firm’ are being sued for $199 million. This includes Bernard’s brother Peter, his two sons and his niece. Trustee, Irving Picard, is suing, Madoff’s brother, Peter, who was the investment securities firm’s chief compliance officer. The sons, Andrew and Mark, served as co-directors of trading, while the niece, [...]
Ruth Madoff Forfeits Her Fortune
Posted on June 29, 2009 by admin in Finance
Ruth Madoff, the wife of Bernhard Madoff, the creator of the $65 billion ponzi scheme, the largest ever recorded, has agreed to give up her claim to more than $80 million worth of assets, for being allowed to keep just $2.5 million cash. This amount of money would have been considered only pocket change by [...]
How To Be A Super Thief
Posted on May 14, 2009 by admin in Finance, How To
There is always someone or something that symbolizes the greed, corruption and stupidity of an era. Jewish born Bernard L Madoff, ex Wall Street chairman and founder, is one of those stories, that symbolized the era of ‘easy credit’. A time that brought nations crashing to their knees, around the world, in the worst recession [...]
Film To Tell It Like It Is On Madoff?
Posted on April 30, 2009 by admin in Society
A film on the life and times of Bernard L Madoff is apparently already on its way. Film’s executive producer, Edmun Druilhet, said, “The film will be called ‘Madoff Made Off With America’. Druilhet has been heard to call Madoff a ‘scumdog millionaire’. No one since Adolf Hitler has ripped so much money off the [...]
Worlds Largest Fraud Further Fuels Financial Crisis
Posted on December 17, 2008 by admin in Finance
The world’s biggest fraud in history was revealed when Bernard Madoff, 70 year old Wall Street guru and trader and ex chairman of the Nasdaq Stock Market was arrested last week. He allegedly masterminded a $US50 billion fraudulent Ponzi scheme. Madoff’s arrest and liquidation of his company adds further fuel to the spiraling costs of [...]
