Recovery Of Funds From The Madoff Investment Scandal
The recovery of funds from the Madoff investment scandal has been underway since the scandal broke in December 2008. That month, recovery trustee Irving Picard received funds from the Bank of New York account where Bernard Madoff held new investments into his Ponzi scheme. As it has been concluded that no legitimate investments were made on the investors' behalf for at least the last 12 years of operation, recovery has proceeded on a "money in/money out" basis. Investors are entitled to receive no more than the nominal cash amounts that they paid in and did not subsequently withdraw, without regard to inflation, interest, opportunity cost or the false statements that Madoff provided them. Those statements combined to a total balance of approximately $64 billion, while the admitted claims amount to $19.5 billion. Madoff provided a confidential list of his assets and those of his firm (BLMIS) to the SEC on December 31, 2008, which was subsequently disclosed on March 13, 2009, in ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Madoff Investment Scandal
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme. Madoff founded Bernard L. Madoff Investment Securities LLC in 1960, and was its chairman until his arrest. The firm employed Madoff's brother Peter Madoff, Peter as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as rules and compliance officer and attorney, and Madoff's sons Mark Madoff, Mark and Andrew Madoff, Andrew. Peter was sentenced to 10 years in prison, and Mark died by suicide two years to the day after his father's arrest. Alerted by Madoff's sons, federal authorities arrested Madoff on December 11, 2008. On March 12, 2009, Madoff pleaded guilty to 11 federal crimes and admitted ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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New York Post
The ''New York Post'' (''NY Post'') is an American Conservatism in the United States, conservative daily Tabloid (newspaper format), tabloid newspaper published in New York City. The ''Post'' also operates three online sites: NYPost.com; PageSix.com, a gossip site; and Decider.com, an entertainment site. The newspaper was founded in 1801 by Alexander Hamilton, a Federalist Party, Federalist and Founding Fathers of the United States, Founding Father who was appointed the nation's first United States Secretary of the Treasury, Secretary of the Treasury by George Washington. The newspaper became a respected broadsheet in the 19th century, under the name ''New York Evening Post'' (originally ''New-York Evening Post''). Its most notable 19th-century editor was William Cullen Bryant. In the mid-20th century, the newspaper was owned by Dorothy Schiff, who developed the tabloid format that has been used since by the newspaper. In 1976, Rupert Murdoch's News Corp bought the ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Boca Raton, Florida
Boca Raton ( ; ) is a city in Palm Beach County, Florida, United States. The population was 97,422 in the 2020 United States census, 2020 census and it ranked as the 23rd-largest city in Florida in 2022. Many people with a Boca Raton Address, postal address live outside of municipal boundaries, such as in West Boca Raton, Florida, West Boca Raton. As a business center, the city also experiences significant daytime population increases. Boca Raton is north of Miami and is a principal city of the Miami metropolitan area. It was first Incorporated town, incorporated on August 2, 1924 as "Bocaratone", and then incorporated as "Boca Raton" on May 26, 1925. While the area had been inhabited by the Glades culture, as well as Spanish Empire, Spanish and later British Empire, British colonial empires prior to its annexation by the United States, the city's present form was developed predominantly by American architect Addison Mizner starting in the 1920s. Mizner contributed to many bu ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Hoboken, New Jersey
Hoboken ( ; ) is a City (New Jersey), city in Hudson County, New Jersey, Hudson County in the U.S. state of New Jersey. Hoboken is part of the New York metropolitan area and is the site of Hoboken Terminal, a major transportation hub. As of the 2020 United States census, the city's population was 60,419, an increase of 10,414 (+20.8%) from the 2010 United States census, 2010 census count of 50,005, which in turn reflected an increase of 11,428 (+29.6%) from the 38,577 counted in the 2000 United States census, 2000 census. The United States Census Bureau, Census Bureau's Population Estimates Program calculated a population of 57,010 for 2023, making it the List of United States cities by population, 708th-most populous municipality in the nation. [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Fred Wilpon
Fred Wilpon (born November 22, 1936) is an American real estate developer and former baseball executive. He was principal owner of the New York Mets from 1987 to 2020. Early life and education Wilpon was raised in a Jewish family in Bensonhurst, Brooklyn. His father, Nathan Wilpon, managed a funeral home. Wilpon attended Lafayette High School in Brooklyn, where he was responsible for getting his friend, Sandy Koufax, to join the baseball team. Wilpon was a big fan of baseball and pitched his freshman year in college until he was injured. In 1958, he graduated with a B.A. from the University of Michigan. After college, he sold calculators for a time while his wife worked as a secretary for Branch Rickey, the former president of the Brooklyn Dodgers, whom he knew from the neighborhood. Career In 1972, Wilpon cofounded Sterling Equities, a commercial real estate development company, with his brother-in-law Saul Katz. They built a development of townhouses in Tarrytown, a subur ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Sterling Equities
Sterling Equities is a diversified, family-run group of companies based in Great Neck, New York whose portfolio consists primarily of holdings in real estate, sports, and media in the New York area. These include SportsNet New York, the New York Excelsior, Sterling Project Development, and a number of real estate investment portfolios and real estate services businesses. The firm became embroiled in the Bernie Madoff Scandal exposing a relationship between Sterling Equities partners and Bernie Madoff spanning 20 years. The partners eventually settled a billion dollar suit with the Madoff Trustee, Irving Picard, for $161 million. Holdings and history Sterling Equities is a diversified, family-run group of companies whose portfolio consists primarily of holdings in real estate, sports, and media in the New York area. These formerly included the New York Mets of Major League Baseball (an interest was acquired in 1980, and it was a full owner from 2002 to 2020, when Steve Cohen ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Municipal Bond
A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation. Typically, only investors in the highest tax brackets benefit from buying tax-exempt municipal bonds instead of taxable bonds. Taxable equivalent yield calculations are required to make fair comparisons between the two categories. The U.S. municipal debt market is relatively small compared to the corporate market: total municipal debt outstanding was $4 trillion as of the first quarter of 2021, compared to nearly $15 trillion in the corporate and foreign markets. But conversely, the number of municipal bond issuers (state and local governments and other affiliated entities) far exceeds the number of corporate bond issuers. Local authorities in many other countries in the wo ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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French Riviera
The French Riviera, known in French as the (; , ; ), is the Mediterranean coastline of the southeast corner of France. There is no official boundary, but it is considered to be the coastal area of the Alpes-Maritimes department, extending from the rock formation Massif de l'Esterel to Menton, at the France–Italy border, although some other sources place the western boundary further west around Saint-Tropez or even Toulon. The coast is entirely within the Provence-Alpes-Côte d'Azur region of France. The Principality of Monaco is a semi-enclave within the region, surrounded on three sides by France and fronting the Mediterranean. The French Riviera contains the seaside resorts of Cap-d'Ail, Beaulieu-sur-Mer, Saint-Jean-Cap-Ferrat, Villefranche-sur-Mer, Antibes, Juan-les-Pins, Cannes, and Théoule-sur-Mer. ''Riviera'' is an Italian word that originates from the ancient Ligurian territory of Italy, wedged between the Var and Magra rivers. ''Côte d'Azur'' is origin ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Antibes
Antibes (, , ; ) is a seaside city in the Alpes-Maritimes Departments of France, department in Southeastern France. It is located on the French Riviera between Cannes and Nice; its cape, the Cap d'Antibes, along with Cap Ferrat in Saint-Jean-Cap-Ferrat to the northeast, is one of the best known landforms in the area. The capes house the Hôtel du Cap, Hôtel du Cap-Eden-Roc and Grand-Hôtel du Cap-Ferrat respectively, widely considered two of the most exclusive hotels in the world.Chanial, Jean-Pierre"Cap-Eden-Roc, 100 ans de légende" ''Le Figaro'' , 11 June 2014. The town of Juan-les-Pins is in the commune of Antibes; the Sophia Antipolis technology park is northwest of it. In 2020, the commune had a population of 74,709, making it Alpes-Maritimes's second-most populated. History Origins Traces of occupation dating back to the early Iron Age have been foundPatrice Arcelin, Antibes (A.-M.). Chapelle du Saint-Esprit. In : Guyon (J.), Heijmans (M.) éd. – ''D’un monde à l� ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Upper East Side
The Upper East Side, sometimes abbreviated UES, is a neighborhood in the boroughs of New York City, borough of Manhattan in New York City. It is bounded approximately by 96th Street (Manhattan), 96th Street to the north, the East River to the east, 59th Street (Manhattan), 59th Street to the south, and Central Park and Fifth Avenue to the west. The neighborhood area incorporates several smaller neighborhoods, including Lenox Hill, Carnegie Hill, and Yorkville, Manhattan, Yorkville. Once known as the Stocking, Silk Stocking District,The City Review Upper East Side, the Silk Stocking District it has long been the wealthiest neighborhood in New York City. The Upper East Side is part of Manhattan Community Board 8, Manhattan Community District 8, and its primary ZIP Codes are 10021, 10028, 10065, 10075, and 10128. I ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Manhattan
Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, largest, and average area per state and territory, smallest county by area in the U.S. state of New York (state), New York. Located almost entirely on Manhattan Island near the southern tip of the state, Manhattan constitutes the center of the Northeast megalopolis and the urban core of the New York metropolitan area. Manhattan serves as New York City's Economy of New York City, economic and Government of New York City, administrative center and has been described as the cultural, financial, Media in New York City, media, and show business, entertainment capital of the world. Present-day Manhattan was originally part of Lenape territory. European settlement began with the establishment of a trading post by Dutch colonization of the Americas, D ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Penthouse Apartment
A penthouse is an apartment or unit traditionally on the highest floor of an apartment building, condominium, hotel, or tower. Penthouses are typically differentiated from other apartments by luxury features. The term 'penthouse' originally referred, and sometimes still does refer, to a separate smaller 'house' that was constructed on the roof of an apartment building. Architecturally it refers specifically to a structure on the roof of a building that is Setback (architecture), set back from its outer walls. These structures do not have to occupy the entire roof deck. Recently, luxury high rise apartment buildings have begun to designate multiple units on the entire top residential floor or multiple higher residential floors including the top floor as penthouse apartments, and outfit them to include ultra-luxury fixtures, finishes, and designs which are different from all other residential floors of the building. These penthouse apartments are not typically set back from the bu ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |