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Business 28 Jul 2009 | 12:00 AM

Stanford, jailed for US$7bil fraud, wants air-con prison

CONROE, Texas: Texas financier R. Allen Stanford wants to be moved from a private prison because he has been without air conditioning and shares a cell with up to 10 other inmates.

Business 29 Jul 2009 | 12:00 AM

Madoff, jailed 150 years for US$13bil fraud, tells all

NEW YORK: A lawyer for victims of Bernard Madoff's pyramid scheme says the financier told him during a 4 1/2-hour prison interview plenty of details about the fraud, including how it took place and how securities regulators missed catching him.

Business 29 Jul 2009 | 12:00 AM

Watchdog: SEC fulfilled duty in Stanford case

WASHINGTON: The Securities and Exchange Commission had been actively investigating the banking business of billionaire R. Allen Stanford for more than three years before Bernard Madoff's pyramid scheme came to light last December and has fulfilled its duty to pursue alleged wrongdoing by the financier, the agency's inspector general has found.

Business 01 Aug 2009 | 12:00 AM

Duo show it’s possible to overcome failure

Ex-CAD director Glenn Knight and ex-MCA president share stage at leadership conference.

Business 01 Aug 2009 | 12:00 AM

SEC reining in receiver in Stanford US$7bil Ponzi case

DALLAS: A federal judge ruled Friday that a court-appointed receiver who took over companies run by Texas billionaire R. Allen Stanford can recover only the interest - not the principal - on investments that federal prosecutors say fed a multibillion-dollar Ponzi scheme.

Business 12 Aug 2009 | 12:00 AM

Ex-Madoff CFO pleads guilty to help defraud people of billions

NEW YORK: The former chief financial officer for Bernard Madoff pleaded guilty Tuesday to conspiracy, admitting he helped Madoff carry out a massive fraud that cost thousands of people billions of dollars by lying to investors and testifying falsely when it seemed the fraud might be discovered.

Business 14 Aug 2009 | 12:00 AM

Gov't lets Madoff CFO escape some charges for help

NEW YORK: Bernard Madoff's former finance chief won't face charges for using drugs or for having unregistered firearms as part of his plea deal in the multibillion-dollar fraud.

Business 24 Aug 2009 | 12:00 AM

Alternative energy powerhouse Brazil finds big oil

RIO DE JANEIRO: Brazil, long proud of its push to develop renewable energy and wean itself off oil, has a bad case of fossil-fuel fever.

Business 11 Sep 2009 | 12:00 AM

Judge reduces lawyer fees to US$20M in Stanford case

DALLAS: The attorneys trying to track down billions of dollars the government said went missing in a massive pyramid scheme allegedly run by Texas businessman R. Allen Stanford will get paid at least $20 million for three months of work, a federal judge ruled Thursday.

Business 27 Oct 2009 | 12:00 AM

Madoff associate, who made US$7bil, died of heart attack

WEST PALM BEACH, Florida: A man accused of making more than US$7 billion off the investment schemes of jailed financial manager Bernard Madoff drowned after having a heart attack, authorities said Monday.