The swindling saga of legendary Wall Street conman Bernard Madoff has inspired the creation of The Vile Plutocrat, a website devoted to the notion that "rich people suck." The Vile Plutocrat gathers news about the misdeeds of "the entitled class," mixes in scathing editorial commentary and then links stories to biographies of the purported villains. "The idea was born out ...

NEW YORK (Reuters) - Accused Galleon fund founder Raj Rajaratnam and his main co-defendant want separate trials on charges they were involved in what prosecutors describe as the biggest hedge fund insider-trading case ever in the United States. Lawyers for Rajaratnam, 52, and former New Castle Funds LLC trader Danielle Chiesi contended in court papers on Friday that allegations of seven ...

NEW YORK (Reuters) - Federal prosecutors said Tom Petters should be sentenced to 335 years in prison for running a $3.65 billion Ponzi scheme, while defense lawyers pleaded for mercy, saying their client has a tumor on his pituitary gland. The 52-year-old founder of Petters Group Worldwide Inc was convicted in December by a federal jury in St. Paul, Minnesota ...

NEW YORK (Reuters) - The judge overseeing the liquidation of Ponzi schemer Bernard Madoff's investment firm has allowed victims unhappy with his ruling on how to calculate their losses to appeal directly to a federal appeals court. Monday's ruling by Bankruptcy Judge Burton Lifland means shorter waits for victims waiting for court-appointed trustee Irving Picard to rule on their ...