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.
U.S. regulators charged Gibraltar Private Bank and Trust Company $4 million for lapses. The bank allegedly failed to report suspicious transactions linked ex-lawyer Scott Rothstein, who ran the Ponzi scheme.
Agape World's former broker, Jason Keryc, was sentenced to nine years in prison and penalty of $179 million as restitution over a Ponzi scheme. The scheme defrauded around 3,800 investors of more than $150 million.
Jason Keryc has been found guilty by a District Judge for being part of a Ponzi-like scheme and has been sentenced to 9 years in Prison.
