Tagged: Ponzi

Bounty for financial fraud whistleblowers?

The inspector general probing the SEC’s failure to discover Bernard Madoff’s $65 billion Ponzi scheme recommends that whistleblowers should be paid a bounty for information about financial fraud.  School of Law Professor Tamar Frankel, an authority on securities law, says such rewards would be a two-edged sword and probably limited to outsiders (insiders thereafter couldn’t […]

Unravelling the Madoff scheme

With three new lawsuits filed against investment “feeders” of Bernard Madoff’s alleged $65 billion “Ponzi” scheme, federal investigators are  slowing unravelling the mechanics of history’s biggest investment ripoff.  School of Law Professor Tamar Frankel, a legal-ethics expert and authority on fiduciary law, says the “middlemen” in the Madoff scheme should have know what was going on. “The more […]

Madoff probe targets wealthy clients

Reports say investigators into Bernard Madoff’s alleged “Ponzi scheme” are looking at some of his wealthy clients who may have known that the returns on their investments were unrealistically high.  School of Law Professor Tamar Frankel, a securities law expert and Israeli native, says this would violate both securities law and Jewish law. “Jewish law […]

Madoff musings

Journalism Professor Mitchell Zuckoff, author of “Ponzi’s Scheme: The True Story of a Financial Legend,” says in a New York Times blog that Bernard Madoff has become an emblem of a bad financial era. “Once in a rare while, a financial fraud is so audacious and extraordinary, yet so in tune with larger societal forces and […]

Madoff pleading guilty

Law Professor Tamar Frankel, an authority on securities law and legal ethics who is writing a book on Ponzi schemes, says Bernard Madoff is smart to plead guilty. “It seems that Madoff’s strategy is to confess, shorten all proceedings as much as possible, avoid jury trial almost at all costs, perhaps serve some time in prison […]