you win some you lose some

The bad news: they rejected his appeal of a verdict sentencing him to four years (reduced to one due to overcrowding). The good news: that one year might be served at home, where the hookers can come to him, and he might still be able to hold office! Read more »

  • 24 Jun 2013 at 12:31 PM

Raj Rajaratnam Not Leaving The Big House Anytime Soon

On the one hand, it’d be hard to argue that the former hedge fund manager doesn’t want to get out of the correctional facility he’s been in since December 2011; on the other, let’s not forget that prison is said to agree with him and that he not only is he in “good spirits,” but looks better than ever. Read more »

  • 25 Jan 2013 at 4:20 PM

Bonus Watch ’13: Bank Of America

A few details from the House of Moynihan’s IBD bonus communication day, which was said to leave people feeling “glum.” Read more »

The less good news is that a jury found the former McKinsey executive guilty on three counts of securities fraud and one count of conspiracy for passing material non-public information to his friend*, convicted insider trader Raj Rajaratnam. The good news: Read more »

Oh you can try a lawsuit but, historically speaking, it won’t do shit. Read more »

  • 21 Mar 2012 at 3:27 PM

Bernie Madoff Not Feeling Wilpon Settlement

Convicted fraudster Bernie Madoff was “desperately disappointed” that the owners of the Mets chose to settle the fraud lawsuit brought on behalf of victims of Madoff’s Ponzi scheme, CBS News reported Wednesday. “He wrote me last weekend that he was so looking forward to that trial,” said Diane Henriques, author of the book “Wizard of Lies” which detailed Madoff’s fraud. “He was hoping that the Mets’ defense would make the case he was making to me that they had no reason to doubt Madoff.” The trustee for Madoff’s victims, Irving Picard, was set to argue at trial that Mets owner Fred Wilpon, once a friend of Madoff and a longtime investor, was willfully blind and chose to ignore signs that Madoff was producing fraudulent returns. Henriques told CBS that in recent emails from prison Madoff blasted Picard, who was seeking more than $300 million at trial. “He calls Picard a fool, an amateur, says he doesn’t understand the market, says he never understood the market, that he’s just lost on Wall Street,” Henriques said. [NYP]