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A lot of formerly more wealthy Coloradans are watching with interest recent revelations stemming from numerous lawsuits trying to recover the ill-gotten gains of Ponzi schemer Bernie Madoff. Thursday’s New York Times blockbuster was that JPMorgan Chase officials allegedly ignored clear signs of Madoff’s fraud despite their own deep suspicions. Bank officials deny any wrongdoing.
On Saturday, just a week after the suicide in SoHo of Mark Madoff, Vail’s Sonnenalp Hotel will host a “Bernie Madoff Auction of fine art, jewelry, rugs, bronzes and more due to losses causes by” the infamous Ponzi schemer now serving 150 years in prison.
The Securities and Exchange Commission announced Tuesday that it obtained an emergency court order to freeze millions of dollars in the assets of Golden, Colorado-resident Richard Dalton, who the SEC alleges has been running a Bernie Madoff-style Ponzi scheme. As head of Universal Consulting Resources LLC, Dalton allegedly told investors he was using their money as leverage to secure loans to "purchase and sell bank notes" to finance a diamond trading business. It was the kind of convoluted program that only friends and family could sell and, according to the SEC, it sold well by word of mouth alone.
Editor's note: Realaspen.com late Monday posted an update to its original story, saying Paulson's daughter, Amanda, contacted the website to deny her father purchased...
Well, at least one banking executive is personally feeling the pain of the foreclosure crisis: Wells Fargo has fired a top employee who moved...
After losing his entire life savings to the Bernie Madoff con job, former U.S. Rep. Tom Tancredo has a better idea for punishing the 71-year-old convicted swindler, who was sentenced Monday to 150 years in prison for masterminding the largest Ponzi scheme in history. "I think I probably would've sold tickets and let the highest bidder come beat him up with a baseball bat and then divide up the money among all the people that he stung," Tancredo said Monday "with a laugh," 9News reports.