These days it seems that fraud cases are on the rise, perhaps spurred by the California and global recession. Even so, well before the recession hit, schemes such as that of Bernie Madoff’s were in full swing. In the latest news, the New York Times reports that last year about $12 billion was withdrawn from Madoff’s firm, and lawsuits to recover that money from the investors who made the withdrawals continue to move forward. Meanwhile, according to the Los Angeles Times, the Securities and Exchange Commission (SEC) is boosting its efforts to crack down on fraud. (more…)
