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$4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says $4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says
$4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says More than $4.3 billion has now been recovered for victims of Bernie Madoff’s massive and infamous Ponzi scheme, the Justice Department announced, as part of a decade-long effort that has compensated over 40,000 people worldwide for nearly 94 percent of their losses. The DOJ says  its 10th and final distribution from the Madoff Victim Fund (MVF), provided more than $131 million to over 23,000 victims. The latest distribution marks the culmination of a decade-long effort to recover and return forfeited funds tied to Madoff's fraudulent investment empire. Most victims, primarily small inv…

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by Joe Lombardi
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Man Admits Role In NJ/NY Network That Laundered $27M For International Drug Cartels Man Admits Role In NJ/NY Network That Laundered $27M For International Drug Cartels
Man Admits Role In NJ/NY Network That Laundered $27M For International Drug Cartels The takedown of a New Jersey and New York network that laundered more than $27 million for Central and South American drug cartels has produced another guilty plea, federal authorities announced. Gilberto Martinez, 33, formerly of Clifton, "cleaned" more than $1 million himself, both by buying and directing others to buy cashier's checks using drug money, U.S. Attorney Philip R. Sellinger said. Morristown police helped the DEA and IRS crack the case, in which more than 1,000 cashier’s checks were bought, he said. The buyers typically were paid a fee of $150 to $200 for each check…

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by Jerry DeMarco