Attorney Jerry Brown tomorrow plans to announce a lawsuit filing against "a Los Angeles based investment adviser who directed hundreds of millions of dollars in clients' investments to Bernard Madoff, while actively concealing the link between the two," according to an advisory. "For decades, this investment adviser claimed to use a proprietary strategy to generate 20 to 25 percent returns. In reality, the high returns were a product of Madoff's massive Ponzi scheme. For his so-called investment expertise, the adviser pocketed over $270 million in fees, charging investors 25 percent fees on profits." more ›

Cue six degrees of Kevin Bacon game now... Three more victims of Bernard L. Madoff's Ponzi scheme were announced, including the Hollywood couple that is Kevin Bacon and Kyra Sedgwick. Madoff is accused of running a reportedly $50 billion Ponzi scheme in which investment money from new clients was taken to pay off earlier investors. Hollywood is no stranger to playing victim to Madoff--Steven Spielberg, Jeffrey Katzenberg, business manager Gerald Breslauer and Eric Roth (screenwriter of The Curious Case of Benjamin Button) are among those swindled. more ›