Madoff

Massive Ponzi scheme

Successful fund managers share a number of common traits. But, as Jason Broomer writes, be careful what you look for...

Amid concerns the Bank of England may soon introduce "negative interest rates", the deputy governor, Charles Bean, will today convene a meeting of City economists to explain the policy of quantitative easing.

The disgraced financier Bernie Madoff has received a $13,800 (£8,500) tax rebate, angering clients who lost billions in the biggest Ponzi scheme in Wall Street history.

A fund manager who claimed bullying was rife at his former employer New Star Asset Management, founded by City veteran John Duffield, has won the right to pursue a claim for compensation at an employment tribunal, the Guardian writes.

Bernard Madoff will not appeal the 150-year sentence handed to him last week for a $65bn (£40bn) "Ponzi" fraud, reports The Telegraph.

Bernard Madoff will spend the remainder of his life in prison after receiving the maximum prison sentence of 150 years for masterminding a $65bn fraud.

The judge tasked with sentencing alleged fraudster Madoff has received more than 100 letters from angry victims of the $65bn scam.

The judge tasked with sentencing alleged fraudster Madoff has received more than 100 letters from angry victims of the $65bn scam.

The alleged $65bn Madoff fraud has damaged the offshore fund industry's credibility and spurred on the regulatory changes that have been promised by authorities, according to International law firm, Appleby.