http://consumer-fraud-blog.com Just another WordPress weblog Wed, 07 Jan 2009 13:16:23 +0000 http://backend.userland.com/rss092 en At a hearing held by a House Financial Services subcommittee, lawmakers focused on how Bernard Madoff managed to evade detection, and whether gaps in regulation allowed him to carry out his alleged $50 billion Ponzi scheme. A large part of the blame was with the Securities and Exchange Commission, who were ... http://consumer-fraud-blog.com/2009/01/07/lawmakers-look-into-madoff-scandal/ The U.S. Securities and Exchange Commission may come under fire from lawmakers for failing to quash Bernard Madoff’s alleged $50 billion Ponzi scheme after an investor alerted the agency to the suspected fraud. The House Financial Services Committee is scheduled to hear from one of Madoff’s alleged victims, securities law experts ... http://consumer-fraud-blog.com/2009/01/05/sec-looks-to-defend-existence-after-madoff-scandal/ Bernard Madoff is complying with a court-ordered deadline to tell U.S. regulators how much money he has left. Ira Lee Sorkin, Madoff’s lawyer, said a list of his client’s assets, liabilities and property would be sent by the Wednesday deadline to the U.S. Securities and Exchange Commission. SEC Chairman Christopher Cox has ... http://consumer-fraud-blog.com/2009/01/02/madoff-releasing-list-of-assets-to-sec/ A federal bankruptcy judge approved the release of more than $28 million in assets belonging to accused swindler Bernard Madoff to pay to costs related to his case. Madoff is accused of bilking investors out of $50 billion through a Ponzi scheme that he allegedly ran through his investment advisory business. $883,000 ... http://consumer-fraud-blog.com/2008/12/31/madoff-assets-liquidated-monies-released/ The owner of the allegedly corrupt foreclosure rescue business "Please Save My Home" has been sued by the Ohio Attorney General. The lawsuit filed earlier this week seeks to refund defrauded customers of the Conneaut, Ohio-based, business, and put an end to its allegedly fraudulent operations. James R. Van Putten is named ... http://consumer-fraud-blog.com/2008/12/30/please-save-my-home-sued-by-ohio-ag/ The House Financial Services Committee will hold a hearing on January 5th to examine the $50 billion Ponzi scheme allegedly run by money manager Bernard Madoff. Madoff, 70, was arrested December 11th, after telling his two sons and federal investigators that he had been using money from new investors to ... http://consumer-fraud-blog.com/2008/12/30/date-set-for-madoff-ponzi-scheme-hearing/ The U.S. Senate is conducting an investigation into why wireless phone carriers charge what they do for text messages. In the past five years the average cost of a text message has doubled while the industry has shrunk to about a handful of carriers. The Senate antitrust committee has sent invitations to ... http://consumer-fraud-blog.com/2008/12/30/text-message-prices-called-into-question/ Investigators probing the Madoff investment scandal are beginning to turn their attentions to the middlemen who attracted billions of investment dollars to Madoff's funds. There are no allegations that the middlemen knew anything about Madoff's Ponzi scheme, but investigators are interested in what they told clients about how their money was ... http://consumer-fraud-blog.com/2008/12/29/madoff-scheme-investigation-includes-middlemen/ The Securities and Exchange Commission is widening its probe into Bernard Madoff's alleged $50 billion Ponzi scheme. Madoff has two sons and each has publicly said they knew nothing of their father's alleged wrongdoing. The same can be said for other members of Madoff's family, all who can probably be expected ... http://consumer-fraud-blog.com/2008/12/29/madoffs-family-associates-questioned-of-their-knowledge-of-fraud/ The Food & Drug Administration (FDA) has warned The Coca-Cola Company that claims associated with their Diet Coke Plus product violates U.S. policy against marketing soda and other snack foods as more nutritious, or "fortified." The FDA allows boosted nutrition claims when foods or beverages contain at least 10 percent of ... http://consumer-fraud-blog.com/2008/12/24/diet-coke-plus-nutrition-claims-violate-fda-policy-coca-cola-warned/