Fraud

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.

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Dead rabbi used by internet scammers

By Marcus Dysch, February 5, 2009

Internet scammers are attempting to embezzle money using the names of late philanthropist Benzion Dunner and a Scottish law professor.

An email, sent from Hong Kong and written in broken English, asks recipients to provide legal documents in order to share funds left in the will of Rabbi Dunner, who died in a car crash last March.

The email states: “I do not wish to bore you with much stories [sic], my intention of writing you this mail is to solicit for your partnership in a rewarding venture with funds left by my deceased client by name: Benzion Dunner.”

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Fraud-charge Chasid faces extradition

By Marcus Dysch, January 22, 2009

A court has recommended the extradition of a member of the US-based strictly Orthodox Skverer community who fled to Britain to avoid multi-million dollar fraud charges.

On Tuesday, City of Westminster Magistrates’ Court cleared the way for Avrum David Friesel, 56, to stand trial in the US.

Home Secretary Jacqui Smith (who is due to be guest speaker at the Community Security Trust’s annual dinner in March) must now decide whether to rubber-stamp his extradition.

But Mr Friesel’s barrister, Jonathan Goldberg QC, said it could take up to a year to arrive at a final decision.

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ATM scam warning

January 15, 2009

Barnet Jews have been warned to be on their guard when using ATM machines in Hendon and Golders Green after a spate of card fraud incidents over the weekend.

Fraudsters fitted devices to a number of cash machines to trap cards and record PIN numbers which were then used to withdraw large amounts of cash.

Police have contacted synagogue groups as part of an awareness drive to urge residents to exercise particular care and, where possible, to use familiar cash machines so that any attached devices are more visibly obvious.

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Fraudsters ordered to hand over assets

By Lynda Roughley, December 23, 2008

A Manchester man jailed for six years for involvement in a large-scale “advance fee” business fraud has been ordered to hand over £425,000.

Following a two-day confiscation hearing at Liverpool Crown Court, it was agreed that Carl Montlake had benefited by £1.5 million from the scam.

It was also agreed that he has realiseable assets of £425,000 and Judge Gerald Clifton ordered that, if this sum is not paid over under the Proceeds of Crime Act, by January 31 next year, he will face an extra 42 months in prison.

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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.”

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Analysis: It affects us, too

By Jenni Frazer, December 18, 2008

The more the news filters through from America as to the extent of the alleged Madoff swindle, the louder the sighs of unashamed relief from this side of the pond.

Phew, goes the thinking; thank heavens we're not affected. Thank goodness we haven’t entrusted our family foundation funds to the wily Mr Madoff, a man of such moral rectitude that even his own sons, poor dupes, refused to counter-sign his conditions of bail.

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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.

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Mazuz plans to indict Olmert for corruption

By Yaakov Katz and Nathan Guttman, November 27, 2008

After a long and highly publicised police investigation, Israel's Attorney General Menahem Mazuz announced Wednesday night that he was planning to indict Prime Minister Ehud Olmert on corruption charges.

Mr Mazuz said that his final decision would be made pending a hearing for Mr Olmert and his lawyers, during which he will give the beleaguered prime minister an opportunity to present his defence. Such a hearing is typically offered to government officials prior to their indictment.

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Dentist is struck off

October 30, 2008

Trevor Mann, former chairman of the British Dental Association, has been struck off for fraudulently claiming £51,000 expenses from the association.

Mr Mann, a non-practising dentist, is a member of Kingston and Surbiton District Synagogue.

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