{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Stanford / Madoff Scandals' data-url='/boclips/videos/5c54c40cd8eafeecae165d31' data-video-url='/boclips/videos/5c54c40cd8eafeecae165d31' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nStanford / Madoff Scandals\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eOn January 14th besieged money manager Bernard Madoff arrived at a Manhattan courthouse, where prosecutors were making another move to have him jailed.Madoff did not speak as he was ushered into the courthouse. Metal barricades held back...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eOn January 14th besieged money manager Bernard Madoff arrived at a Manhattan courthouse, where prosecutors were making another move to have him jailed.\u003cbr/\u003eMadoff did not speak as he was ushered into the courthouse. Metal barricades held back a large group of photographers.\u003cbr/\u003eProsecutors were appealing a judge's ruling that Madoff could remain free in his 7 (m) million US dollar penthouse despite government allegations that he improperly sent valuable jewellery and watches to close relatives and friends.\u003cbr/\u003eThe hearing comes as investigators continue to dig through the former Nasdaq chairman's financial records.\u003cbr/\u003eAuthorities say Madoff has described what he did with investor's money as a 50 (b) billion US dollar Ponzi scheme, paying investors with money raised from new clients.  The 70-year-old Madoff has been under house arrest since he was charged in December with swindling investors out of (b) billions of US dollars.\t\u003cbr/\u003eOn March 12th, saying he was \"deeply sorry and ashamed,\" Bernard Madoff pleaded guilty on to pulling off perhaps the biggest swindle in Wall Street history and was immediately led off to jail in handcuffs to the delight of his seething victims.\u003cbr/\u003eIn refusing to let the disgraced financier remain free on bail until then, US District Judge Denny Chin noted that Madoff had the means to flee and an incentive to do so.\u003cbr/\u003eHe pleaded guilty to all 11 charges against him - with no deal with prosecutors - meaning he is under no obligation to disclose names and tell authorities where the money went. He is not believed to be cooperating with prosecutors.\u003cbr/\u003eMadoff, 70, could get up to 150 years in prison when he is sentenced in June.\u003cbr/\u003eOn February 2nd Federal regulators charged Texas financier R. Allen Stanford and three of his firms with what they called a massive fraud that centred around high-interest-rate certificates of deposit, and raided some of the companies' offices.\u003cbr/\u003eIn a complaint filed in federal court in Dallas, the Securities and Exchange Commission alleged Stanford orchestrated a fraudulent investment scheme centered on an 8 (b) billion US dollars certificate of deposit program that promised \"improbable and unsubstantiated high interest rates.\"\u003cbr/\u003eStanford's assets, along with those of the three companies, were frozen.\u003cbr/\u003eStanford's firms include Antigua-based Stanford International Bank, broker-dealer Stanford Group Co. and investment adviser Stanford Capital Management, which are both based in Houston.\u003cbr/\u003eDepositors rushed to pull money from banks in Latin America, the Caribbean and the US, concerned that their slumping economies could be harmed by a fraud case against Stanford.\u003cbr/\u003eIn Caracas, Stanford Bank Venezuela customers lined up outside the branch, trying to find out any information about their money. Stanford has 14 local branches and about 15-thousand clients in Venezuela, where the country's top bank regulator urged investors to be calm. \u003cbr/\u003eMeanwhile in Antigua, hundreds of people waited outside two branches of the Bank of Antigua, a Stanford-owned institution that has been flooded with fearful customers since the US Securities and Exchange Commission (SEC) filed a complaint on Tuesday accusing him of an 8 (b) billion US dollars fraud. \u003cbr/\u003eStanford had disappeared during this time but FBI agents located him in Fredericksburg, Virginia on February 17th. He then surrendered his passport as security.\u003cbr/\u003eUS Madoff 2\u003cbr/\u003eMadoff to appear in court for bail hearing as prosecutors push to throw him in jail\u003cbr/\u003eNew York, 14 Jan 2009\u003cbr/\u003e1. Pan of Bernard Madoff and others exiting vehicle at federal courthouse, walking to courthouse, entering\u003cbr/\u003eMadoff arrives at court, expected to plead guilty in financial scandal\u003cbr/\u003eNew York City - 10 March 2009\u003cbr/\u003e2. Pan of Bernard Madoff getting out of car and walking into courthouse\u003cbr/\u003eUS federal regulators charging R. Allen Stanford \"massive\" fraud\u003cbr/\u003eAP Photos\u003cbr/\u003eFile\u003cbr/\u003eFILE: London, UK - 11 June 2008\u003cbr/\u003e3. Various STILL photos of Texas financier R. Allen Stanford \u003cbr/\u003eLatAm Stanford Wrap\u003cbr/\u003eAP Television\u003cbr/\u003eVarious - 17/18 Feb 2009\u003cbr/\u003eCaracas, Venezuela - 18 February\u003cbr/\u003e4. Exteriors of Stanford Bank Venezuela\u003cbr/\u003e5. People waiting in line outside bank \u003cbr/\u003eSt. John's, Antigua - 18 February\u003cbr/\u003e6. Wide exterior of Stanford Bank building\u003cbr/\u003e7. 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e2009\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003esouth america, new york city, texas, north america, business, venezuela, new york, crime, courts\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='additional-tags-heading'\u003eAdditional Tags\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list keyterms' data-identifier='Boclips::VideoDecorator' data-type='keyterms'\u003ecorporate news, government regulations, national governments, latin america and caribbean, government and politics, united states, general news, bernard madoff, united states government, national courts, fraud and false statements, denny chin, antigua and barbuda, u.s. securities and exchange commission, corporate crime, caribbean, judiciary, allen stanford, securities fraud\u003c/div\u003e\n\u003cdiv class='keyterms-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton 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