Fashions News

Dec 17 - Disgraced financier Bernard Madoff is placed under house arrest as Congress orders a probe into the securities watchdog agency.

And in Washington, Securities and Exchange Commission chairman Christopher Cox contended there's no proof that his agency staff did nothing wrong in the Madoff case, defending his agency from criticism that it had failed to detect Madoff's alleged $50 million fraud.TV AND WEB RESTRICTIONS~**MUST COURTESY UNIVERSAL MOTOWN AND GEFFEN RECORDS FOR USE OF "I WANNA LOVE YOU" MUSIC VIDEO WITH NO ARCHIVAL OR WIRELESS USE / MUST COURTESY FOX SEARCHLIGHT FOR USE OF "THE WRESTLER" FOOTAGE WITH NO ARCHIVAL OR WIRELESS USE**~ MORE INFO: The day's best showbiz headlines including Madonna's settlement still secret, J.K. Rowling's new best-seller, and Akon's harassment sentencing. SCRIPT: Madonna and ex-husband Guy Ritchie said that a statement released on the singer's behalf detailing terms of their divorce was "misleading and inaccurate." Madonna's publicist said on Monday (December 15) that the singer gave Ritchie between 76 and 92 million dollars (USD) as part of their divorce. The couple have since distanced themselves from the accuracy of the details, saying "The financial details of the settlement will remain private." J.K. Rowling's new children's book has become the fastest selling title of the year. "The Tales of Beedle the Bard" sold more than 2.6 million copies worldwide in less than two weeks. The novel has a global print run of 8 million copies with all proceeds going to the Children's High Level Group. Hip-hop star Akon pleaded guilty to harassment for tossing a fan off stage at a New York concert last year. He will not serve jail time, but is required to perform 65 hours of community service and pay a 250 dollar fine. The 35-year-old singer threw a teenage boy off the stage during a June 2007 concert. Finally Mickey Rourke was soaking up the spotlight at the Los Angeles premiere of his film, "The Wrestler." Seen by many as Rourke's comeback, the film has been hailed by critics and has even earned the actor a Golden Globe nomination for best actor.

Fred Katayama reports.