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Madoff house arrest ordered
NEW YORK/WASHINGTON - DISGRACED financier Bernard Madoff, accused of orchestrating a US$50 billion (S$74 billion) fraud, was placed under house arrest on Wednesday as BNP Paribas became the latest European bank to be sideswiped by the scandal.
A federal judge ordered the 70-year-old former pillar of Wall Street confined to his US$7 million Manhattan apartment and told Madoff's wife to surrender her US passport by noon on Thursday. ... more |
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Other stories
Madoff warnings went unheeded
SEC chairman orders probe into why allegations against investment baron were not acted on. -AFP
Loans can't go on indefinitely, China warns US
This comes after it consolidated its position as the top buyer of American government bonds. -AFP
BNP Paribas posts CIB loss, could cut 700 jobs
It had also been hit by American financier Bernard Madoff's alleged fraud. -Reuters
Bring down yen's value?
Government's spokesman said Japan had to take action to control the high currency. -AFP
Banks set up legal fund
HK banks that sold financial products backed by collapsed firm Lehman Brothers will provide S$18.6 million for a potential US legal battle on behalf of investors. -AFP
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