LATEST MADOFF NEWS

COURT FILINGS

  • Net Equity
  • Customer Issue
  • Trustee Reports
  • ============================

    BLOG ISSUES SPOTLIGHT ARCHIVES

    Click Here for NIAP Blog Archives

    Click Here for Madoff-Help Blog Archives

    Landrieu: Stanford Ponzi Scheme Victims Deserve Justice

    WASHINGTON – Last week, U.S. Senator Mary Landrieu, D-La., wrote to U.S. Securities and Exchange Commission (SEC) Chair Mary Jo White about her disappointment in the SEC’s decision to not appeal the Stanford Ponzi Scheme Victim’s case. Click here for the Senator’s Press Release and to read the letter on-line.

    SourcedFrom Sourced from: Network For Investor Action & Protection

    Print This Post

    ALERT: New York State Residents

    NOW is the time to write Senator Schumer, thank him for his leadership and encourage him to engage his fellow Senators to join him in supporting S.1725, Restoring Main Street Investor Protection and Confidence Act. Submit your letter by clicking here.

    SourcedFrom Sourced from: Network For Investor Action & Protection

    Print This Post

    ALERT:

    H.R.3482 – Two New Co-sponsors
    Congresswoman Kay Granger [R-TX12] and Congressman Tom Marino [R-PA10] have signed on to Co-sponsor H.R.3482 – Restoring Main Street Investor Protection and Confidence Act.

    SourcedFrom Sourced from: Network For Investor Action & Protection

    Print This Post

    Will SIPC’s Brokerage Insurance Scam Help Allen Stanford Walk?

    If you experience an insured loss and the insurance company doesn’t pay, you know you’ve been scammed. As I’ve discussed in a series of columns posted at www.kotlikoff.net, SIPC (the Securities Investor Protection Corporation) is running an enormous scam in claiming to insure our brokerage accounts against fraud. SIPC’s refusal to pay the legitimate claims of most Madoff victims and all Stanford victims makes this abundantly clear. Even worse, SIPC is placing all brokerage account holders at enormous additional risk by standing ready to sue them if they earn a return on their investments and spend the proceeds. In fact, thanks to precedents SIPC established in the Madoff case, SIPC can declare the loss of your securities to be the result of a Ponzi scheme and sue you for up to every dollar you withdrew in the up to six years prior to the fraud’s discovery! More on Forbes here.

    SourcedFrom Sourced from: Network For Investor Action & Protection

    Print This Post

    SEC Drops Stanford Suit Against Brokerage Insurance Fund

    WASHINGTON—The Securities and Exchange Commission plans to abandon its legal battle to require a brokerage industry insurance fund to pay investors in R. Allen Stanford’s $7 billion Ponzi scheme, two months after an appellate court rejected the SEC’s arguments in the case. The U.S. Court of Appeals for the District of Columbia Circuit in July ruled the SEC failed to prove victims of the Ponzi scheme were “customers” eligible for compensation by the Securities Investor Protection Corp. under the narrow definition of the law. The ruling upheld a district-court decision from 2012. “After very careful deliberation, the commission determined not to seek further review” of the decision, said SEC spokesman John Nester, in a brief statement Friday. “We remain committed to the victims of the Stanford fraud and will continue to work with the Stanford Receiver, Justice Department, and other interested parties to maximize recovery to harmed investors.” More in the Wall Street Journal here.

    SourcedFrom Sourced from: Network For Investor Action & Protection

    Print This Post