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Recovery Of Funds From The Madoff Investment Scandal
Recovery of funds from the Madoff investment scandal has been underway since the scandal broke in December 2008. That month, recovery trustee Irving Picard received funds from the Bank of New York account where Bernard Madoff held new investments into his Ponzi scheme. As it has been concluded that no legitimate investments were made on the investors' behalf for at least the last 12 years of operation, recovery has proceeded on a "money in/money out" basis. Investors are entitled to receive no more than the nominal cash amounts that they paid in and did not subsequently withdraw, without regard to inflation, interest, opportunity cost or the false statements that Madoff provided them. Those statements combined to a total balance of approximately $64 billion, while the admitted claims amount to $19.5 billion. As of March 2022, the trustee had recovered $14.5 billion toward these claims through legal action against Madoff associates, feeder funds and beneficiaries of the scheme, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Madoff Investment Scandal
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernie Madoff, the former NASDAQ chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme. Madoff founded Bernard L. Madoff Investment Securities LLC in 1960, and was its chairman until his arrest. The firm employed Madoff's brother Peter as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as rules and compliance officer and attorney, and Madoff's sons Mark and Andrew. Peter was sentenced to 10 years in prison, and Mark died by suicide exactly two years after his father's arrest. Alerted by his sons, federal authorities arrested Madoff on December 11, 2008. On March 12, 2009, Madoff pleaded guilty to 11 federal crimes and admitted to operating the largest private Ponzi scheme in h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
M&T Bank
M&T Bank Corporation (Manufacturers and Traders Trust Company) is an American bank holding company headquartered in Buffalo, New York. It operates 1680 branches in New York, New Jersey, Connecticut, Pennsylvania, Maine, Maryland, Massachusetts, New Hampshire, Delaware, Vermont, Virginia, West Virginia, and Washington, D.C. M&T is ranked 519th on the Fortune 500 list based on 2021 revenues. Until May 1998, the bank's holding company was named First Empire State Corporation. M&T Bank has been profitable in every quarter since 1976. Other than Northern Trust, M&T was the only bank in the S&P 500 Index not to lower its dividend during the financial crisis of 2007–2008. The bank owns the Buffalo Savings Bank building in downtown Buffalo, and Bridgeport Center in Bridgeport, Connecticut. M&T Bank also sponsors M&T Bank Stadium, home of the Baltimore Ravens. M&T Bank is the official bank of the Buffalo Bills in Western New York and of their home Bills Stadium in Orchard Park, New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louis L
Louis may refer to: * Louis (coin) * Louis (given name), origin and several individuals with this name * Louis (surname) * Louis (singer), Serbian singer * HMS ''Louis'', two ships of the Royal Navy See also Derived or associated terms * Lewis (other) * Louie (other) * Luis (other) * Louise (other) * Louisville (other) * Louis Cruise Lines * Louis dressing, for salad * Louis Quinze, design style Associated names * * Chlodwig, the origin of the name Ludwig, which is translated to English as "Louis" * Ladislav and László - names sometimes erroneously associated with "Louis" * Ludovic Ludovic is a given name and has also been a surname. People with the given name A * Ludovic Albós Cavaliere (born 1979), Andorran ski mountaineer * Ludovic Ambruș (born 1946), Romanian wrestler who competed in the 1972 Summer Olympics * Lud ..., Ludwig, Ludwick, Ludwik, names sometimes translated to English as "Louis" {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boca Raton, Florida
Boca Raton ( ; es, Boca Ratón, link=no, ) is a city in Palm Beach County, Florida, United States. It was first incorporated on August 2, 1924, as "Bocaratone," and then incorporated as "Boca Raton" in 1925. The population was 97,422 in the 2020 census, and it was ranked as the 344th largest city in America in 2022. However, approximately 200,000 additional people with a Boca Raton postal address live outside of municipal boundaries, such as in West Boca Raton. As a business center, the city experiences significant daytime population increases. Boca Raton is north of Miami and is a principal city of the Miami metropolitan area, which had a population of 6,012,331 as of 2015. Boca Raton is home to the main campus of Florida Atlantic University and the corporate headquarters of Office Depot. It is also home to the Evert Tennis Academy, owned by former professional tennis player Chris Evert. Boca Town Center, an upscale shopping center in central Boca Raton, is one of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hoboken, New Jersey
Hoboken ( ; Unami: ') is a city in Hudson County in the U.S. state of New Jersey. As of the 2020 U.S. census, the city's population was 60,417. The Census Bureau's Population Estimates Program calculated that the city's population was 58,690 in 2021, ranking the city the 668th-most-populous in the country. With more than , Hoboken was ranked as the third-most densely populated municipality in the United States among cities with a population above 50,000. Hoboken is part of the New York metropolitan area and is the site of Hoboken Terminal, a major transportation hub for the tri-state region. Hoboken was first settled by Europeans as part of the Pavonia, New Netherland colony in the 17th century. During the early 19th century, the city was developed by Colonel John Stevens, first as a resort and later as a residential neighborhood. Originally part of Bergen Township and later North Bergen Township, it became a separate township in 1849 and was incorporated as a city in 185 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fred Wilpon
Fred Wilpon (born November 22, 1936) is an American real estate developer and former baseball executive. He was principal owner of the New York Mets from 1987 to 2020. Early life and education Wilpon was raised in a Jewish familyNew York Observer: "Even During Series Mets Partners Spar, Endangering Stadium" By Andrew Rice October 30, 2010 in , Brooklyn. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sterling Equities
Sterling Equities in Great Neck, New York, is a diversified, family-run group of companies whose portfolio consists primarily of holdings in real estate, sports, and media in the New York area. These include the New York Mets, the Brooklyn Cyclones, SportsNet New York, the New York Excelsior, Sterling Project Development, and a number of real estate investment portfolios and real estate services businesses. The firm became embroiled in the Bernie Madoff Scandal exposing a relationship between Sterling Equities partners and Bernie Madoff spanning 20 years. The partners eventually settled a billion dollar suit with the Madoff Trustee, Irving Picard, for $161 million. Holdings and history Sterling Equities is a diversified, family-run group of companies whose portfolio consists primarily of holdings in real estate, sports, and media in the New York area. These include the New York Mets of Major League Baseball (an interest was acquired in 1980, and it was a full owner from 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Municipal Bond
A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation. Typically, only investors in the highest tax brackets benefit from buying tax-exempt municipal bonds instead of taxable bonds. Taxable equivalent yield calculations are required to make fair comparisons between the two categories. The U.S. municipal debt market is relatively small compared to the corporate market. Total municipal debt outstanding was $4 trillion as of the first quarter of 2021, compared to nearly $15 trillion in the corporate and foreign markets. Local authorities in many other countries in the world issue similar bonds, sometimes called local authority bonds or other names. History Municipal debt predates corporate debt by several centuries—the early Rena ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French Riviera
The French Riviera (known in French as the ; oc, Còsta d'Azur ; literal translation " Azure Coast") is the Mediterranean coastline of the southeast corner of France. There is no official boundary, but it is usually considered to extend from Toulon, Le Lavandou or Saint-Tropez in the west to Menton at the France–Italy border in the east."Côte d'Azur, côte méditerranéenne française entre Cassis et Menton" ("Côte d'Azur, French Mediterranean coast between Cassis and Toulon") in ''Dictionnaire Hachette encyclopédique'' (2000), p. 448."Côte d'Azur, Partie orientale du littoral français, sur la Méditerranée, de Cassis à Menton" ("Côte d'Azur, Eastern part of the French coast, on the Mediterranean, from Cassis to Menton"), in ''Le Petit Larousse illustré'' (2005), p. 1297. The coast is entirely within the Provence-Alpes-Côte d'Azur region of France. The Principality of Monaco is a semi-enclave within the region, surrounded on three sides by France and fronting th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antibes
Antibes (, also , ; oc, label= Provençal, Antíbol) is a coastal city in the Alpes-Maritimes department of southeastern France, on the Côte d'Azur between Cannes and Nice. The town of Juan-les-Pins is in the commune of Antibes and the Sophia Antipolis technology park is northwest of it. History Origins Traces of occupation dating back to the early Iron Age have been foundPatrice Arcelin, Antibes (A.-M.). Chapelle du Saint-Esprit. In : Guyon (J.), Heijmans (M.) éd. – ''D’un monde à l’autre. Naissance d’une Chrétienté en Provence (IVe-VIe siècle)''. Arles, 2001, (catalogue d’exposition du musée de l’Arles antique) in the areas of the castle and cathedral. Remains beneath the Holy Spirit Chapel show there was an indigenous community with ties with Mediterranean populations, including the Etruscans, as evidenced by the presence of numerous underwater amphorae and wrecks off Antibes. However, most trade was with the Greek world, via the Phocaeans of Marseil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Upper East Side
The Upper East Side, sometimes abbreviated UES, is a neighborhood in the borough of Manhattan in New York City, bounded by 96th Street to the north, the East River to the east, 59th Street to the south, and Central Park/Fifth Avenue to the west. The area incorporates several smaller neighborhoods, including Lenox Hill, Carnegie Hill, and Yorkville. Once known as the Silk Stocking District,The City Review Upper East Side, the Silk Stocking District it has long been the most affluent neighborhood in New York City. The Upper East Side is part of Manhattan Community District 8, and its primary ZIP Codes are 10021, 10028, 10065, 10075, and 1012 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manhattan
Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state of New York. Located near the southern tip of New York State, Manhattan is based in the Eastern Time Zone and constitutes both the geographical and demographic center of the Northeast megalopolis and the urban core of the New York metropolitan area, the largest metropolitan area in the world by urban landmass. Over 58 million people live within 250 miles of Manhattan, which serves as New York City’s economic and administrative center, cultural identifier, and the city’s historical birthplace. Manhattan has been described as the cultural, financial, media, and entertainment capital of the world, is considered a safe haven for global real estate investors, and hosts the United Nations headquarters. New York City is the headquarters of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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