U.S. marshals seized the luxury $7m New York City penthouse apartment of imprisoned fraudster Bernard Madoff and his wife, Ruth, officials said on Thursday.
Sweden marked the first day of its six-month European Union presidency on Wednesday by coming to the defence of hedge funds and private equity, promising to press for improvements in EU proposals for tougher regulation of both groups.
Hedge fund manager Ezra Merkin has agreed to sell his art collection for $310m, with the net proceeds to go toward possible payment to his investors who lost money in the Bernard Madoff investment fraud.
Losses on US credit cards hit a record 10.44 per cent in June, squeezing profit margins for credit card securitisations to a 10-year low, according to Fitch Ratings.