Bernie Madoff

Could this frum lady be Madoff’s $40m agent?

By Miriam Shaviv, July 9, 2009

Sonja Kohn looks an unlikely villain — if she is one, that is. A strictly Orthodox mother-of-five and grandmother of 24, she is the daughter of Holocaust refugees and is unmissable in her bright, bouffant sheitel.


Madoff's 'Jewish jail' plea denied by judge

By Jessica Elgot, July 6, 2009

Bernie Madoff, the billion-dollar fraudster who will spend the rest of his life in prison after a 150-year sentence has been refused the chance to serve in a ‘Jewish jail’.

His lawyer has asked the judge to recommend he serve his term in the medium-security Otisville Correctional Institute, which has an unusually high percentage of Jewish inmates, but the request was refused.


Madoff wife 'betrayed and confused' by husband

By Jessica Elgot, June 29, 2009

The wife of convicted fraudster Bernard Madoff's says she feels "betrayed and confused" by the actions of her husband.

Ruth Madoff has said, in her first public statement: "I am breaking my silence now, because my reluctance to speak has been interpreted as indifference or lack of sympathy for the victims of my husband Bernie’s crime, which is exactly the opposite of the truth.


Madoff gets 150 years for investment scam

By Jessica Elgot, June 29, 2009

Fraudster Bernie Madoff has been sentenced to 150 years in prison by a court in New York, the maximum the judge could impose.

Several hundred spectators arrived at federal court in New York to witness 71-year-old Madoff’s sentencing for a multi-billion dollar fraud scheme.

Madoff’s legal team had previously requested a 12-year sentence.
He pleaded guilty in March to a stream of offences including fraud, money laundering and perjury which amounted to almost $50 billion of investment fraud.


Sydney tycoon is ‘another Madoff’

By Moira Schneider Cape Town and Dan Goldberg Sydney, June 18, 2009

A Jewish businessman has been accused of masterminding South Africa’s largest ever corporate fraud, scamming 400 investors out of some £730 million in a giant pyramid scheme.

Barry Tannenbaum, 43, allegedly promised investors returns of up to 200 per cent from his company, Frankel Chemicals. He told them he was importing raw materials for the manufacture of HIV drugs by some of South Africa’s pharmaceutical giants, including Adcock Ingram, founded by his grandfather, Hymie. Forged documents were reportedly used to persuade investors that their money was secure.


The 1930s again: Jews are blamed for the crisis

By Alex Brummer, April 23, 2009

The credit crunch, financial crisis and ensuing global recession have provided an opportunity for the rebirth of some unfortunate antisemitic stereotypes. Jews have played a prominent role in the current crisis, and not just as perpetrators but as problem solvers and victims too.


Madoff admits fraud charges

By Marcus Dysch, March 12, 2009

Disgraced financier Bernard Madoff has pleaded guilty to all 11 charges in connection with a multi-billion dollar investment fraud.

He arrived at a New York courthouse this morning wearing a bullef-proof vest and is expected to be sentenced to a 150-year jail term on June 16.

Madoff, 70, was charged with four counts of fraud, three counts of money laundering, making false statements, perjury, making a false filing to the US financial watchdog, and theft from an employee benefit plan.


Madoff scandal: charities lose $1bn

By Daniella Peled and Anshel Pfeffer, December 18, 2008

The Bernard Madoff investment scandal is expected to cost the Jewish charity world well over a billion dollars. But UK charities are likely to escape relatively unscathed from immediate losses.

Avraham Infeld, president of the Chais Family Foundation in Jerusalem, which has announced it is closing down after losing all its assets, said: “$600 million has disappeared overnight from the Jewish world.”


Analysis: The Bernie Madoff lesson

By Alex Brummer, December 18, 2008

The last year has been appalling for individuals and charities seeking to hang on to their hard-earned savings and precious endowments.
Sharply lower equity prices, collapsing residential and property values, shrinking pension and trust funds and falling interest rates (UK rates could well be down to near zero by spring 2009) have made it all but impossible for investors to keep their money intact.