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Tag archive for ‘Madoff’

  • Club Madoff

    Twenty-nine Madoff victims have banded together to tell their stories. I can hardly wait to read their book which is appropriately titled: The Club No Wanted to Join—Madoff Victims in Their Own Words.

    I have not seen the book. My copy has not shipped yet. But I look forward to reading about the investment experiences with Madoff and his intermediaries. I also look forward to reading what the authors report about Irving Picard, the trustee.

    Click on the title above to read more, including my recipe for “Spaghetti alla Madoff.”

  • Uma Thurman, Ponzi Schemes and Justice

    Just when it looked like Ponzi schemes had run their course—for the time being—we learned of another. The Daily Beast reported:

    Sorry, former President Clinton: It’s not that Ken Starr. A financial adviser with the same name as Clinton’s former nemesis was arrested on Thursday for allegedly perpetrating a $30 million fraud and Ponzi scheme. Clients to Ken Starr, the chairman and CEO of Starr & Company, include Annie Leibovitz, Uma Thurman, Martin Scorsese, Wesley Snipes, and Henry Kissinger. Authorities also arrested Andy Stein, the former Manhattan borough president and New York City Council president, for lying to officials conducting the probe.

  • Wealth Management: How Can We Trust Anyone When…

    NRC Focus Amsterdam

    I plan to examine three questions. How can we regain confidence when:

    Havoc is more profitable than fixing problems?
    Employees don’t trust the companies they represent?
    Nobody has the global power to regulate financial institutions?

  • Wealth Management’s Dirty Harry

    In case you missed Matt Lauer’s interview with Harry Markopolis, here it is. Markopolis is the money manager from Boston who met with SEC four times and tried to expose Madoff’s Ponzi scheme. He said some terrific things during the interview and some that give my pause: “If you don’t understand the strategy, don’t invest [...]

  • Financial Fraud 101

    Scams: Pigeon Fever Sixty Minutes ran a terrific story last night on financial scams. Conclusions: Ponzi schemes are alive and thriving Gullability is here to stay. “Affiliation marketing” is the way con artists find you—at church, the country club, you get the picture. Watch CBS News Videos Online Last year, I posted the Top Ten [...]

  • How To Do a Perp Walk

    It’s Worst Case Wednesday. And here’s the advice column I promised last week. Consider the following scenario: You’re at your desk, drinking $5 Starbucks and listening to the morning call. Three burly guys—Mack Truck faces—appear from nowhere on the trading floor. They’re miked up, wearing earbuds that stream deep inside their wrinkled jackets. Watch CBS News [...]

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