U.S. Court of Appeals in New York rejected arguments by lawyers of five former employees who worked for Bernard Madoff. The court on Wednesday concluded that five of them were convicted at a fair trial.
The accounting giant, PwC, agreed to pay $55 million to settle claims by the victims of Bernard Madoff's Ponzi scheme. PwC is alleged to fail to audit properly the books of Fairfield Greenwich Group, the biggest operator of Madoff's feeder funds.
Five former Geneva wealth managers have paid "substantial compensation" to settle criminal complaints brought by clients whose assets they had invested with U.S. fraudster Bernard Madoff, the Geneva prosecutor's office said on Friday.
Irwin Lipkin, one of Bernard Madoff's longest-serving employees, was sentenced to six months in prison on Wednesday for falsifying records that helped the imprisoned fraudster carry out his multibillion-dollar Ponzi scheme.
