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Articles posted in the financial-fraud category

Wall Street Investor Bernard Madoff Confesses to Running Pyramid Scheme
December 16, 2008 by Alexis
Longtime Wall Street investor Bernard Madoff confessed last week to running a years-long Ponzi scheme that’s believed to have swindled up to $50 billion in investments from more than thirty high profile individuals and organizations. The New York City based Madoff first told his children that he was deeply involved in a fraud in which he was receiving artificially high returns using money originally put up by investors. Most morally concerning is that Madoff targeted a wide variety of ...
Illinois Gov. Blagojevich Arrested For Plans to Sell Obama Senate Seat
December 10, 2008 by Admin
Illinois Gov. Rod Blagojevich was arrested early Tuesday morning on charges that he had conspired to profit from Barack Obama’s recent presidential election, among other charges. He’s being held in custody with his chief of staff, John Harris, who faces similar charges. A news briefing held by U.S. Attorney General Patrick Fitzgerald and the FBI’s Robert Grant was held today at 12 pm EST to discuss their investigation and findings. Fitzgerald said today was “a sad ...