kickback, fines and penalties

Madoff Kickbacks Alleged in Austria

U.S., U.K. and Austrian prosecutors are investigating a former fund manager they believe was paid more than $40 million in kickbacks to funnel billions of dollars of investments to Madoff.

Weiss Gets 30-Month SentenceMelvyn Weiss was sentenced to 30 months in prison for his role in an alleged scheme involving kickbacks. The judge also ordered Weiss to pay $10 million in fines and penalties.

kickback Show phonetics
noun [C]
an amount of money that is paid to someone illegally in exchange for secret help or work



fine² (fīn)
n.

1. A sum of money required to be paid as a penalty for an offense.
2. Law.
   1. A forfeiture or penalty to be paid to the offended party in a civil action.
   2. An amicable settlement of a suit over land ownership.
3. Obsolete. An end; a termination.

tr.v., fined, fin·ing, fines.

To require the payment of a fine from; impose a fine on.