News
SEC Bars Bernie Madoff From Securities Industry
The Securities and Exchange Commission reached a settlement with illegal money manager Bernie Madoff, barring him from working in the securities industry on Tuesday.
The SEC accepted Madoff's settlement offer to be barred from association with any brokerage or investment firm. The deal doesn't include monetary penalties.
Madoff has been in jail since March when he entered a guilty plea to defrauding thousands of investors who lost billions of dollars. He faces up to 150 years in prison, and is scheduled to be sentenced on June 29 in U.S. District Court in
The SEC's complaint against Madoff accused him of conducting a $50 billion fraudulent scheme through his New York-based investment company. The SEC cited Madoff's alleged statements in December to senior employees of the firm that the business was "just one big lie (and) basically a giant Ponzi scheme."
Madoff was arrested on Dec. 11.
Due to this scandal, Madoff, who was once chairman of the Nasdaq Stock Market and sat on SEC advisory committees, became a pariah and a symbol of Wall Street greed that helped to cause the current recession.
Madoff’s pyramid scheme affected people of all walks of life, including ordinary Americans,
###
Click here for more Business News
About YourFINDit
YourFINDit Community is a business, music and social networking community. YourFINDit provides members with a wealth of applications that enable them to create an in depth profile within YourFINDit. Profiles include an About Me, Background and Lifestyle, Videos, Photo sharing, News, Music, Blogs, unique URL and networking with other members inside the YourFINDit community. YourFINDit provides ADit to each member providing them the opportunity to have an exclusive profile (no outside advertising) displaying only banner ads they upload to their pages. Members can run their own ads or give or sell their ad space to advertisers at prices the member sets.
To create your profile sign up and within minutes you too can have your People profile running your ads and building your network with new members daily.
YourFindit is owned and operated by TransWorldNews, Inc., a news and press release distribution service.
More News
Nissan Announces ‘Service Campaign’ To Avoid Recall Affecting Over 200K Nissan Altimas
Nissan Announces ‘Service Campaign' To Avoid Recall Affecting Over 200K Nissan Altimas
Released On: 8/5/2019
Views: 2458
Super Jumper Trampolines Recalled Over Fall Hazard
Super Jumper Trampolines Recalled Over Fall Hazard
Released On: 8/5/2019
Views: 2092
Tesla Brings Back Free Unlimited Supercharging For Model S and Model X For Limited Time
Tesla Brings Back Free Unlimited Supercharging For Model S and Model X For Limited Time
Released On: 8/5/2019
Views: 2069
Elon Musk Hints at Secret Project ‘Dojo” In The Race To Full Autonomous Driving in Tesla Vehicles
Elon Musk Hints at Secret Project ‘Dojo” In The Race To Full Autonomous Driving in Tesla Vehicles
Released On: 8/5/2019
Views: 2132
Tesla Plans To Test Solar Roof At Fremont Factory
Tesla Plans To Test Solar Roof At Fremont Factory
Released On: 8/2/2019
Views: 2330
Walmart Has Applied For Cryptocurrency Patent That Is Similar to Libra Token Proposed by Facebook
Walmart Has Applied For Cryptocurrency Patent That Is Similar to Libra Token Proposed by Facebook
Released On: 8/2/2019
Views: 2455
Roughly 24,000 Inclined Sleepers Sold Under The Disney and Eddie Bauer Brand Recalled
Roughly 24,000 Inclined Sleepers Sold Under The Disney and Eddie Bauer Brand Recalled
Released On: 8/2/2019
Views: 1844
Volkswagen Announces Recall of 28,000 CC and Tiguan Vehicles Over Airbag Module Issues
Volkswagen Announces Recall of 28,000 CC and Tiguan Vehicles Over Airbag Module Issues
Released On: 8/1/2019
Views: 2027
Tesla Addressing A Potentially Dangerous Issue with ‘Dog Mode’
Tesla Addressing A Potentially Dangerous Issue with ‘Dog Mode’
Released On: 8/1/2019
Views: 2032
Burger King To Sell The Meatless ‘Impossible Foods’ Burger While Supplies Last Starting August 5th
Burger King To Sell The Meatless ‘Impossible Foods’ Burger While Supplies Last Starting August 5th
Released On: 8/1/2019
Views: 2002
76,000 Pounds of Frozen Catfish Being Recalled By Queens-Based Food Supplier
76,000 Pounds of Frozen Catfish Being Recalled By Queens-Based Food Supplier
Released On: 7/31/2019
Views: 1998
5 Cryptocurrency Performers That Are In The News Today
5 Cryptocurrency Performers That Are In The News Today
Released On: 7/31/2019
Views: 2255
Frozen Meatballs Recalled In 10 States Over Allergen Risk
Frozen Meatballs Recalled In 10 States Over Allergen Risk
Released On: 7/29/2019
Views: 1969
Tesla Adds Netflix and Youtube Streaming to In Car Content
Tesla Adds Netflix and Youtube Streaming to In Car Content
Released On: 7/29/2019
Views: 1848
Tesla Beats Out Wall Street Predictions For Q2 2019 Deliveries
Tesla Beats Out Wall Street Predictions For Q2 2019 Deliveries
Released On: 7/3/2019
Views: 1916
Tesla Is Developing Means To Produce Its Own Battery Cells To Reduce Dependency On Panasonic
Tesla Is Developing Means To Produce Its Own Battery Cells To Reduce Dependency On Panasonic
Released On: 6/27/2019
Views: 2318
32 Lots Of Blood Pressure Drug Losartan Recalled Over Small Amounts Of Carcinogens
32 Lots Of Blood Pressure Drug Losartan Recalled Over Small Amounts Of Carcinogens
Released On: 6/27/2019
Views: 2143
Audi Announces Recall of 23,000 Q3 SUVS Due To Turn Signal Problems
Audi Announces Recall of 23,000 Q3 SUVS Due To Turn Signal Problems
Released On: 6/27/2019
Views: 2174
