Bernard Madoff

SEC charges Stanford with fraud

The US Securities and Exchange Commission (SEC) has charged R Allen Stanford with orchestrating a fraud of a "shocking magnitude" via his asset management and broker-dealer advisory companies under the Stanford Group name.

When hedge funds attack

The financial crisis has combined with catastrophic performances among hedge funds to decimate the fund derivatives industry, staunching new deal flow and causing many banks to pull out of the business. Mark Pengelly reports

Nomura downgraded after $3.8 billion Q3 loss

Nomura Holdings, Japan's leading brokerage, has announced a third quarter loss of ¥342.9 billion ($3.8 billion). The financial services company said the losses were driven by a series of "one-off" losses from exposure to Madoff funds, Icelandic banks,…

Quantitative tests pointed to Madoff fraud, says Riskdata

Sophisticated investors expressed shock at the alleged $50 billion fraud by New York-based broker and fund manager Bernard Madoff, yet even relatively simple quantitative analysis should have raised red flags, according to research by London-based…

Madoff fraud puts focus on due diligence

As a swathe of investors reported sizable exposures to New York-based broker and hedge fund manager Bernard Madoff, several market players that had conducted due diligence on his firm told Risk that it had raised danger signals as far back as the late…

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