Losses of over US$9.6bn were recorded for the Chinese government while operating the country’s expressway network in 2013, yet the 19 listed expressway operators actually recorded a net profit margin growth of 20.59%

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20150101000104&cid=1502

Operators of Chinese expressways live life in the fast lane

Staff Reporter

2015-01-01

Losses of over 60 billion yuan (US$9.6 billion) were recorded for the Chinese government while operating the country’s expressway network in 2013, yet the 19 listed expressway operators actually recorded a net profit margin growth of 20.59%, the Beijing Youth Daily reports. Continue reading

Madoff’s Little Helpers: At first blush, they seem like ordinary people who simply had the misfortune to work for a man responsible for the greatest fraud ever. But jurors were convinced that these five were the ones who made the Ponzi scheme work

http://www.forbes.com/sites/richardbehar/2014/12/31/the-madoff-five-historys-greatest-fraud-yields-one-of-the-greatest-legal-slugfests-of-our-time/print/

Richard BeharContributor

BUSINESS 12/31/2014 @ 11:48PM 21,561 views

Madoff’s Little Helpers: An Epic Trial, Puzzling Sentences

At first blush, they seem like ordinary people who simply had the misfortune to work for a man responsible for the greatest fraud ever. But in a complex trial, prosecutors convinced jurors that these five were the ones who made the Ponzi scheme work, winning guilty verdicts on all 59 counts.

THE MADOFF FIVE: History’s Greatest Fraud Yields One Of The Greatest Legal Slugfests Of Our Time

“What?! For Annette? How the hell did that happen?! Oh my God, I can’t believe Annette got only six years. Don’t tell me it’s gonna be like two months for [co-defendants] Jerry and George. That pisses me off, I’m sorry. I thought she was more guilty than all of them. The prosecutors must have been devastated. It’s kind of like a slap in the face to everybody who worked so hard getting these guys convicted, and for the jury who had to listen to the evidence for nearly six months.”

— Juror Sheila Amato, on sentence imposed on Annette Bongiorno, a former top manager at Madoff Securities

“Richard, these five loyal and dedicated employees were following the instructions of their immediate supervisor. They were not SEC-registered brokers and therefore had no reason to believe that they were violating any SEC regulations. They were always led to believe that the trades and the client assets were effected and held in Europe, as was common in our industry for this type of transaction. I alone am responsible for any wrongdoing on their part and will always suffer for the pain I caused my clients, my employees and their families.”

— Bernard L. Madoff, to author Continue reading