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Fraud

Poor Ruth Madoff…

Monday, June 29th, 2009

She has to face living off $2.5 million. I really feel sorry for her. Please detect the sarcasm in that statement. This will sound cold but I think she should be impoverished like so many of her husband’s clients were. I think we have to assume that the assets owned by the Madoff’s were acquired […]

Lately, Reading the Wall Street Journal is as Good as a Fiction Thriller

Thursday, April 16th, 2009

Over the last few months, the Wall Street Journal has covered some fascinating stories. This is stuff that would normally be found in a John Grisham thriller but sadly is real: • The Bernard Maddoff Fraud • The Stanford Fraud • Danny Pang The Danny Pang fraud broke yesterday. If the Wall Street Journal is […]

SEC Accusing Stanford Financial Group of Fraud

Tuesday, February 17th, 2009

This one hits close to home as the Stanford Financial Group is located in Houston. The SEC has registered a complaint against Stanford Financial Group (StanfordFinancial.com), alleging massive fraud. You can read the PDF of the complaint here. If the SEC’s complaint is to be believed, Stanford Financial Group is evil. Read the complaint for […]

Madoff’s Investors May Have to Surrender Gains!

Tuesday, December 16th, 2008

From, Investors May Have to Surrender Gains ($), in yesterday’s Wall Street Journal: Investors are unlikely to get back much of the money they invested with Bernard Madoff, and those who took out money in recent years may have to give it back. Imagine that! You invest with Madoff for a few years and then […]

Why Are “Sophisticated Investors” So Dumb?

Monday, December 15th, 2008

I find it funny that nearly every time that I read a story in the Wall Street Journal about the collapse of a hedge fund or a story about fraud, the words “sophisticated investor” are used to describe those who were swindled or those who lost it all. Is “sophisticated investor” the new term for […]