Archive for the ‘financial fraud’ Category

Wall Street Investor Bernard Madoff Confesses to Running Pyramid Scheme

Tuesday, December 16th, 2008

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 ...

Illinois Gov. Blagojevich Arrested For Plans to Sell Obama Senate Seat

Wednesday, December 10th, 2008

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 ...