SEC reaches settlement with Bernard Madoff, bars him from securities industry

September 30th, 2009 Summary Box: SEC IG urges changes after MadoffMADOFF AFTERMATH: To prevent another breakdown like the Bernard Madoff fraud, the Securities and Exchange Commission's inspector general is recommending a new system for handling the thousands of tips and complaints the agency receives, among other changes. CHANGES AT THE SEC: Inspector General David Kotz says it should be easier for junior-level enforcement attorneys to bring their concerns to top managers, and that people with backgrounds in Ponzi schemes should be put on investigating teams.

September 8th, 2009 Mass. reaches settlement with Madoff feeder fundBOSTON — The Massachusetts secretary of state has reached an agreement with one of Bernard Madoff's feeder funds that calls for full restitution for the state's victims. Secretary of State William Galvin says the $8 million deal was struck Tuesday, less than 24 hours before Fairfield Greenwich was supposed to appear at a state hearing.

August 16th, 2009 Mass. rejects settlement offer in Madoff scandalBOSTON — Massachusetts Secretary of State William Galvin's office has rejected a proposed settlement by an investment firm to repay nearly $6 million to state investors who lost money in Bernard Madoff's fraudulent investment scheme. Galvin spokesman Brian McNiff said Sunday that his agency is not accepting New York-based Fairfield Greenwich Group's offer to fully refund nearly a dozen investors in the state because officials are still trying to identify all the affected investors.

July 15th, 2009 NY prosecutors near deal with Madoff accountantNEW YORK — Federal prosecutors in Manhattan have signaled they may be near a plea deal with Bernard's Madoff longtime accountant. The prosecutors notified the court on Wednesday they intend to file a document that would allow David Friehling (FREE'-ling) to plead guilty in the case instead of being indicted.

July 15th, 2009 Prison coach: Madoff was not afraid ahead of termNEW YORK — A prison coach who helped Bernard Madoff get ready for his 150-year sentence says the disgraced financier was not afraid before starting his term at a federal penitentiary in North Carolina. Herb Hoelter (HOHL'-ter) told the CBS "Early Show" that Madoff was remorseful but composed when Hoelter met him four days before sentencing.

July 14th, 2009 Madoff leaves Atlanta lockup, headed to NC prisonWASHINGTON — Disgraced financier Bernard Madoff has left a federal prison in Atlanta and is heading to his new home in a North Carolina prison. Federal Bureau of Prisons spokeswoman Linda Thomas on Tuesday said Madoff has left the penitentiary in Atlanta.

July 8th, 2009 Ruth Madoff gets passport back from feds NEW YORK — If Ruth Madoff wants to escape public scorn, she is now free to leave the country. A federal judge on Monday ordered the court system to return Madoff's passport.

July 1st, 2009 Group says $231M set aside for Madoff claimsNEW YORK — A group funded by the securities industry has set aside $231 million to cover claims by Bernard Madoff's burned investors. The announcement was made Wednesday by court appointed trustee Irving H.

June 30th, 2009 Madoff behind bars, investigation grinds forwardNEW YORK — The day after Bernard Madoff received a 150-year prison term, investigators are continuing their pursuit of other suspects in his massive fraud. A person close to the investigation tells The Associated Press no more arrests are imminent, but 10 people are expected to face charges by the time investigators are done.

June 29th, 2009 Victims testify at Bernard Madoff's sentencingNEW YORK — Bernard Madoff's fraud victims are urging a stiff sentence for the mastermind of a multibillion-dollar fraud scheme. U.S. District Judge Denny Chin said Monday that the federal probation department recommends that Madoff get 50 years in prison.

June 27th, 2009 Judge orders Madoff to forfeit over $170 billionNEW YORK — A federal judge has ordered disgraced financier Bernard Madoff to forfeit over $170 billion. Prosecutors say U.S.

June 22nd, 2009 SEC charges firm, 4 people with fraudWASHINGTON — Federal regulators have charged a brokerage firm called Cohmad Securities and four people with securities fraud, accusing them of funneling billions of dollars from investors into Bernard Madoff's pyramid scheme. The Securities and Exchange Commission announced the civil fraud charges on Monday against Cohmad, its chairman, Maurice Cohn, chief operating officer Marcia Cohn and broker Robert Jaffe.

May 9th, 2009 Mass. orders firm to account for Madoff referralsBOSTON — A state hearing officer has ruled that Cohmad Securities Corp. must provide state regulators with an accounting of all Massachusetts investors the firm referred to admitted Ponzi schemer Bernard Madoff.

April 30th, 2009 Firm rejects Madoff charges by Mass. regulatorBOSTON — A Connecticut firm that acted as a feeder fund for Bernard Madoff's fraudulent investment scheme rejected allegations by Massachusetts' top securities regulator that it misrepresented its lack of knowledge about Madoff's operations.

April 23rd, 2009 Trustee: 3 new bids arrive for Madoff's businessNEW YORK — A trustee says three new bids have been made for the securities-trading operation once run by fallen financier Bernard Madoff (MAY'-dawf). Trustee Irving Picard announced Wednesday the bids for the legitimate market-making business had been made to compete with one from Castor Pollux Securities.