A south Florida jury has found Deutsche Bank liable for failing to flag a Ponzi scheme that allegedly forced several Cayman Island companies into bankruptcy and liquidation. The Germany-based global banking firm, which faces another lawsuit over the scheme and …
SANTA ANA, Calif. (AP) — Lawyer Michael Avenatti, who rose to fame representing porn star Stormy Daniels against Donald Trump, was sentenced in California on Monday to 14 years in prison for cheating clients out of millions of dollars. Avenatti …
A federal appeals court on Monday threw out a settlement requiring insurers to pay $65 million to a court-appointed receiver for companies once run by Allen Stanford, the Texas financier serving a 110-year prison term for running a large Ponzi …
NEW YORK — Ruth Madoff, the wife of imprisoned swindler Bernard Madoff, agreed to pay $594,000 and surrender her remaining assets when she dies to settle claims by the court-appointed trustee liquidating her husband’s firm. According to settlement papers, Ruth …
Berkshire Hathaway Inc. duped a New York bicycle courier company into paying for a workers’ compensation plan that threatens to shortchange injured workers and businesses, according to a lawsuit filed Friday. The suit comes as Berkshire’s Applied Underwriters business faces …
A Ponzi scheme is a fraudulent investment scheme where money pried from new investors is used directly to pay off old investors: Think chain letters enclosing money. “‘This scheme takes its name from Charles Ponzi, who in the late 1920s …
Another figure in the $1.2 billion Ponzi scheme operated by disbarred lawyer Scott Rothstein is scheduled to plead guilty in Fort Lauderdale federal court. Court records show that Frank Preve will plead guilty Tuesday to wire fraud conspiracy, which carries …