China’s new plan to make public its “bad banks” is likely to saddle ordinary investors, including retirees, with bad loans the Party forced banks to make.
Winans sentenced: Gospel singer Michael Winans Jr. was slammed by a judge, prosecutor, and victims when he was sentenced for a Ponzi scheme that defrauded investors out of $8 million.
Hedge fund manager J. Ezra Merkin, who lost about $1.2 billion of his clients’ money to Bernard Madoff’s investment scam, has agreed to pay his clients $405 million in compensation.
Allen Stanford, the former Texas billionaire financier, was sentenced Thursday to 110 years in prison for conducting a $7 billion Ponzi scheme, according to the FBI.
China’s new plan to make public its “bad banks” is likely to saddle ordinary investors, including retirees, with bad loans the Party forced banks to make.
Winans sentenced: Gospel singer Michael Winans Jr. was slammed by a judge, prosecutor, and victims when he was sentenced for a Ponzi scheme that defrauded investors out of $8 million.
Hedge fund manager J. Ezra Merkin, who lost about $1.2 billion of his clients’ money to Bernard Madoff’s investment scam, has agreed to pay his clients $405 million in compensation.
Allen Stanford, the former Texas billionaire financier, was sentenced Thursday to 110 years in prison for conducting a $7 billion Ponzi scheme, according to the FBI.