Bernard L. Madoff, 70, of New York City, pleaded guilty today to a 11 count fraud Information, admitting that, as head and sole principal of of Bernard L. Madoff Investment Securities LLC, he defrauded thousands of clients out of at possibly as much as $65 billion. The Information included charges of securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the SEC, and theft from an employee benefit plan. He faces up to 150 years in prison, plus fines. At his guilty plea hearing today, he is quoted as saying, "I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed." I cannot adequately express how sorry I am for my crimes." He also said that he is “painfully aware” that he has “deeply hurt many many people.”
Showing posts with label filing false documents. Show all posts
Showing posts with label filing false documents. Show all posts
Thursday, March 12, 2009
Madoff Pleads Guilty To All 11 Charges
Bernard L. Madoff, 70, of New York City, pleaded guilty today to a 11 count fraud Information, admitting that, as head and sole principal of of Bernard L. Madoff Investment Securities LLC, he defrauded thousands of clients out of at possibly as much as $65 billion. The Information included charges of securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the SEC, and theft from an employee benefit plan. He faces up to 150 years in prison, plus fines. At his guilty plea hearing today, he is quoted as saying, "I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed." I cannot adequately express how sorry I am for my crimes." He also said that he is “painfully aware” that he has “deeply hurt many many people.”
Tuesday, March 10, 2009
Madoff Charged In 11 Count Information; Indends To Plead Guilty
Bernard L. Madoff, 70, of New York City, in his capacity as sole principal of Bernard L. Madoff Investment Securities LLC, has been charged in an 11 felony fraud count information today with securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the SEC, and theft from an employee benefit plan related to his alleged defrauding of investors out of as much as $50 billion. There is no plea agreement at this time, according to federal prosecutors. If convicted on all counts, Madoff could be sentenced to as much as 150 years in prison, plus restitution and fines. The information alleged that his fraud commenced since at least the 1980s. According to the complaint, the November statements sent out by the firm to clients indicated a total of $64.8 billion in assets, whereas in fact, it only had a small fraction of that amount. His attorney indicated today that he will plead guilty to all 11 counts.Read the DOJ's announcement here.
Saturday, February 28, 2009
Former California Sheriff Turned Real Estate Broker Charged With $20 Million Investment Scam
Thomas John Hastert, 53, a former sheriff's deputy in California turned real estate broker, was arrested Thursday at his daughter's home in Santa Cruz, California and charged with bilking investors out of as much as $20 million. Hastert was charged in Nevada County Superior Court with 73 counts of embezzlement, securities fraud, conspiracy and filing false documents in the alleged defrauding of some 123 investors and borrowers. He was a former deputy sheriff in Los Angeles and Nevada counties, according to reports.Read the story here.
Read the AG's affidavit in support of Arrest Warrant for Hastert here.
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