For sale: Understated seaside getaway on Long Island, once owned by disgraced financier MadoffSeptember 1st, 2009 Madoff's Long Island beach getaway put up for saleMONTAUK, N.Y. — Federal authorities plan to begin selling off disgraced financier Bernard Madoff's homes to raise money for victims of his massive fraud.
Investor who claims Madoff affair says the financier was 'petrified' his wife would find outAugust 25th, 2009 Alleged mistress: Madoff feared wife's reactionNEW YORK — An investor who claims she had an affair with Bernard Madoff says the disgraced financier was "petrified" that his wife would find out. The investor, Sheryl Weinstein, theorized Tuesday that a divorce could have prompted financial scrutiny.
CIT Group delays filing second-quarter report amid restructuring effortsAugust 11th, 2009 Ahead of the Bell: CIT GroupCHARLOTTE, N.C. — Shares of CIT Group Inc.
Denied federal bailout, CIT taps $3B private rescue; may be strategy for other troubled banksJuly 21st, 2009 Private rescue of CIT marks shift in crisisNEW YORK — CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange.
AP source: Business lender CIT Group board meeting after negotiations with bondholdersJuly 20th, 2009 AP source: CIT board meeting Sunday nightWASHINGTON — Commercial lender CIT Group Inc.'s board was meeting Sunday night to discuss options that would allow the lender to small and midsize businesses to avoid bankruptcy, according to a person briefed on the talks. The Wall Street Journal reported that the company was nearing a deal with bondholders for $3 billion in emergency funding.
Sources: CIT Group's board reaches deal with bondholders on rescue loan, avoiding bankruptcyJuly 20th, 2009 Sources: CIT Group board OKs rescue loanWASHINGTON — The board of CIT Group Inc., one of the nation's largest lenders to small and midsize businesses, approved a deal with major bondholders to keep the company out of bankruptcy, said two people briefed on the talks. CIT will receive a rescue loan from key bondholders hoping to keep it alive long enough to restructure its debt, these people said.
Report: Business lender CIT Group's board approves $3 billion rescue loan to avoid bankruptcyJuly 20th, 2009 Report: CIT Group board OKs $3 billion rescue loanNEW YORK — CIT Group Inc.'s board approved a deal with major bondholders to keep the company out of bankruptcy with a $3 billion rescue loan, according to published reports. The emergency loan gives the commercial lender some desperately needed breathing room to refinance maturing debt amid a major liquidity squeeze.
Seven drown in flash flood in ChinaJuly 12th, 2009 CHONGQING - Seven people were drowned in a flash flood triggered by rainstorms in southwest China, officials said Sunday. The incident took place at around 4 p.m.
AP Source: 10 more people will be charged in probe of disgraced financier Bernard MadoffJune 30th, 2009 AP Source: 10 more will be charged in Madoff scamNEW YORK — A person familiar with the investigation into disgraced financier Bernard Madoff (MAY'-dawf) says 10 more people will be charged by the time the probe is complete. The person tells The Associated Press the 10 others will face federal charges over the next few months.
AP Source: 10 more people likely to be charged in probe of disgraced financier Bernard MadoffJune 30th, 2009 AP Source: 10 more could be charged in Madoff scamNEW YORK — A person familiar with the investigation into disgraced financier Bernard Madoff (MAY'-dawf) says at least 10 more people are likely to be charged by the time the probe is complete. The person tells The Associated Press they will face federal charges over the next few months.
NY prosecutors: Judge orders disgraced financier Bernard Madoff to forfeit over $170 billionJune 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.
Al Qaeda financier held in YemenJune 14th, 2009 SANAA - Yemeni police have detained a Saudi man suspected to be the main financier of Al Qaeda operations in Yemen and neighbouring Saudi Arabia, the defence ministry said Sunday. It said in a statement posted on its website that the suspect, identified as Hassan Hussein bin Alwan, was "the financier of the operations carried out by members of Al Qaeda in Yemen and Saudi Arabia".
Texan financier Stanford was 'US government informer'May 11th, 2009 NEW YORK - Texan financier and cricket promoter Sir Allen Stanford, who has been accused of a eight billion dollar bank fraud, is known to have worked as a US government informer, a BBC report claims. According to The Telegraph, a Panorama investigation has suggested that Sir Allen was shielded from an earlier inquiry into his activities because he co-operated with a US Drug Enforcement Administration (DEA) attempt to track money laundering by Latin American drug cartels.
Germany wins EU approval to bail out Commerzbank, faces EU probe on Hypo rescueMay 8th, 2009 Germany wins EU OK for Commerzbank rescueBRUSSELS — Germany has won EU backing to bail out the country's second-biggest lender Commerzbank but will face an EU probe into its rescue plan for lender Hypo Real Estate. Commerzbank AG will get another euro10 billion fresh capital from the German government, on top of a euro8.2 billion cash injection it received in December.
Madoff secretary says financier is protecting others, frequented massage parlorsMay 6th, 2009 Madoff secy believes he's silent to protect othersNEW YORK — Bernard Madoff's longtime secretary says she believes the disgraced financier is not cooperating with authorities to protect others. Eleanor Squillari, Madoff's secretary of more than 20 years, says in an article she co-wrote for Vanity Fair that she helped the FBI gather evidence against him.
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