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Irving Picard

No Jail Time For Madoff's Banking and Feeder Fund Pals

The convictions earlier this week of five of Bernard Madoff's office workers gives the lie to Madoff's long-held assertion that his massive Ponzi scheme was essentially a one-man show.No one really believed that lie, certainly not the prosecutors and investigators who have scoured over the remains of Madoff's fraudulent investment firm ever since the disgraced financier was arrested in late 2008.Still, while trying and convicting the people who performed the scutwork that gave the illusion Madoff was conducting legitimate transactions is an important step in the process, bigger fish in the food chain have gone unpunished.I'm talking about the scores -- if not hundreds -- of well-paid investment professionals who either laundered Madoff's money for him (unintentionally, they would claim) or used their own reputations as financial gurus to rope unwitting investors into Madoff's web of lies.Let's start with the presumably top-notch bankers at JPMorgan (NYSE:JPM), where the bulk of Madoff'...

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    The federal bankruptcy judge presiding over the liquidation of assets related to Bernard Madoff's Ponzi scheme has died, a clerk to the U.S. Bankruptcy Court in New ...

  2. Among Bad Deals, JPMorgan's Madoff Deal May Be the Worst

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  5. UK Court Dismisses Lawsuit Madoff Ponzi-Scheme Losses

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  7. Madoff trustee cannot sue big banks, U.S. court rules

    The trustee seeking money for Bernard Madoff's victims suffered a big defeat as a federal appeals court rejected his bid to recover nearly $30 billion from JPMorgan ...

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