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Justices End Madoff Investors' Fight For $41M In Ponzi Profits

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Justices End Madoff Investors Fight For $41M In Ponzi Profits
Law360 (May 3, 2021, 3:27 PM EDT) The U.S. Supreme Court on Monday declined to hear an appeal from investors who profited from Bernie Madoff s Ponzi scheme, shutting down their effort to avoid returning $41 million in fraudulent proceeds to the trustee overseeing the late con man s bankruptcy estate.
The justices denied a March 30 petition for review brought by former clients of Bernard L. Madoff Investment Securities LLC without giving a reason, as is typical. The Madoff investors, including Turtle Cay Partners and South Ferry Building Co. LP, had sought review of a Second Circuit finding that they can t keep anything beyond their principal investment in the fund under. ....

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ABC News taps first Black exec to run major US broadcast network

Godwin will oversee editorial and business operations for broadcast, digital, streaming and audio news across the news organization including “Good Morning America,” “World News Tonight,” “20/20,” “Nightline,” and “The View.”
“I have immense respect and admiration for ABC News,” Godwin said in a statement. “As the most trusted brand in news, they are to be commended for the extraordinary work and dedication of the journalists, producers, executives and their teams across the organization. I am honored to take on this stewardship and excited for what we will achieve together.”
Godwin s appointment comes as pressure intensifies on broadcast news organizations to fill leadership positions with hires from diverse backgrounds. Every previous president of ABC news has been a white man, CNN reported Wednesday. ....

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Bernie Madoff: Ponzi schemer dies in federal prison at 82

Madoff pleaded guilty to orchestrating the largest Ponzi scheme in history. He was sentenced to 150 years in prison. He died Wednesday. ....

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Michelle Caruso-Cabrera on breaking the Madoff news – The Forward

Michelle Caruso-Cabrera was an anchor and correspondent for CNBC when she received an alert that the FBI arrested Bernie Madoff in connection with a massive Ponzi scheme on December 11, 2008. Moments later, she was on air announcing the breaking news.
Caruso-Cabrera, who is now a candidate for NYC comptroller in the June 22 Democratic primaries, recalled in a phone interview with the Forward on Wednesday what happened behind the scenes – from the moment she got the news until announcing it on live television.
“We didn’t realize just how big a Ponzi scheme it was at the time. So we did it second to a story about Bank of America laying off thousands of employees because of the financial crisis,” Caruso-Cabrera said about her communication with her producer at the breaking news desk before going on air. “I said to the desk, ‘You are sure you don’t want to lead with the Ponzi arrest?’ And they were like, ‘No, we have Bank of America – many more people are a ....

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Bernie Madoff: Ponzi schemer has died in federal prison

Madoff pleaded guilty to orchestrating the largest Ponzi scheme in history. He was sentenced to 150 years in prison. He died Wednesday. ....

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