Judge Who Ruled in Favor of Gambling911 Throws Out Madoff Lawsuit

Written by:
Aaron Goldstein
Published on:

U.S. District Judge Laura Taylor Swain has dismissed a lawsuit filed by two of Bernard Madoff’s investors, who accused the U.S. Securities and Exchange Commission of negligence for failing to uncover Madoff’s misdeeds. 

Judge Swain ruled that the plaintiffs failed to identify any statute on how the SEC should have investigated Madoff prior to his December 2008 arrest.  Attorney Howard Elisofon, who represents the two investors, said he is considering what steps should be taken next to appease his clients. 

Gambling911.com readers may recognize Judge Swain as the individual who ruled in favor of this website’s Motion to Intervene at the beginning stages of an investigation into Full Tilt Poker and PokerStars.  The two largest online poker firms were indicted last Friday in a move that shocked the poker world. 

Her ruling was precedent-setting, allowing a media company access to an ongoing investigation that would ultimately prove to cripple an entire industry, at least in the short term. 

- Aaron Goldstein, Gambling911.com


Follow breaking headlines around the clock at Gambling911.com Twitter Here

Business/Financial News

Rest in Peace Bitcoin?  Not Quite

Rest in Peace Bitcoin? Not Quite

Bitcoin ain't dead yet, nowhere near. Bitcoin is currently sitting at a $115 Billion market cap with each Bitcoin currently being worth $6,728.33.  The last time we saw a price point similar to this level was in early February, just 4 months ago. During that same month Bitcoin bounced back to over $11,000.

Inside the Cryptocurrency Revolution

Inside the Cryptocurrency Revolution

Vice News on HBO is set to premier a segment on the "Cryptocurrency Revolution", more specifically detailing Genesis Mining. 

Bitcoin Blockchain Acceptance Updates

Use of cryptocurrencies can be done anonymously.  Companies like JazzSports are leading the way by promoting anonymous accounts that only require a valid email account.  Payments are through a virtual wallet using the blockchain.  This means it no longer matters where the actual customer physically resides.

Bitcoin Purported Founder Craig Wright Says His BTC Fortune May Remain Locked

Bitcoin Purported Founder Craig Wright Says His BTC Fortune May Remain Locked

The man who claims to have invented Bitcoin and was ordered by a judge to surrender approximately $3 billion of his Bitcoin holdings says he can't, at least not any time soon.

Make Money as a Bookie

If you are looking to make money as a bookie then you will need two things, players that want to bet with you and a website where your players can make wagers on.