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Bernard Madoff

Bernard Madoff
Bernard Madoff's family turned him in to authorities in December, blowing the whistle on what authorities said he described as a "giant Ponzi scheme."

Authorities say Madoff confessed to family members that he had for years been paying returns to certain investors out of the principal received from others until he had only $200 million to $300 million remaining.

The charge against Madoff carries a potential penalty of up to 20 years in prison. Other charges could be added as the case is presented to a grand jury.

He is free on bail but must stay at his Upper East Side apartment.
Bernard Madoff's family turned him in to authorities in December, blowing the whistle on what authorities said he described as a "giant Ponzi scheme."

Authorities say Madoff confessed to family members that he had for years been paying returns to certain investors out of the principal received from others until he had only $200 million to $300 million remaining.

The charge against Madoff carries a potential penalty of up to 20 years in prison. Other charges could be added as the case is presented to a grand jury.

He is free on bail but must stay at his Upper East Side apartment.
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Top Bernard Madoff Articles

Displaying items 49-60
  • JPMorgan's latest legal tab rises as bank hammers out Justice deal

    NEW YORK -- A large chunk of JPMorgan Chase & Co.'s mounting legal bills may get even bigger. The nation's largest bank could now pay a record $13 billion to settle a raft of federal and state probes, according to a person familiar with the...
  • What JPMorgan's $13-billion settlement won't resolve

    NEW YORK -- JPMorgan Chase & Co.'s historic $13-billion settlement with the federal government will pay down a major chunk of the bank's ballooning legal tab. The Justice Department on Tuesday announced the widely expected settlement of faulty...
  • Sens. Warren, Coburn propose more disclosure on federal settlements

    Sens. Warren, Coburn propose more disclosure on federal settlements
    WASHINGTON -- Sens. Elizabeth Warren and Tom Coburn on Wednesday introduced legislation requiring federal agencies to disclose more information about settlements that end government investigations, such as whether the money paid by companies is tax-...
  • Artful cons in 'Blue Jasmine,' 'Wolf of Wall Street,' 'American Hustle'

    Artful cons in 'Blue Jasmine,' 'Wolf of Wall Street,' 'American Hustle'
    American moviegoers love a good con man. Burt Lancaster won an Academy Award for playing one in 1960's "Elmer Gantry." Michael Douglas took home an Oscar in 1988 as master "Wall Street" manipulator Gordon Gekko. And Robert Redford got nominated for his...
  • Suzanne Somers calls Obamacare 'Ponzi scheme' in error-ridden article

    Suzanne Somers calls Obamacare 'Ponzi scheme' in error-ridden article
    Now that Suzanne Somers has your attention with claims about all the sex she's having, the former "Three's Company" star-turned-longevity-expert has turned her attention to Obamacare. And she doesn't like what she sees. "Boomers are smart," Somers wrote...
  • Golden Globes to honor Woody Allen, whether he wants it or not

    Golden Globes to honor Woody Allen, whether he wants it or not
    How do you give a lifetime achievement award to a director still very much in motion, to an artist who refuses to settle down, to someone who actively does not want one? Woody Allen is in the midst of a run of box-office successes and critical acclaim....
  • Both Jacksons get prison terms; he'll serve first

    Both Jacksons get prison terms; he'll serve first
    WASHINGTON – The end of the Jackson family political dynasty arrived Wednesday as a Chicago power couple ready-made for the cameras learned the next few years of their lives will be spent taking turns in prison. Former U.S. Rep. Jesse Jackson Jr.,...
  • Disgraced ex-congressman Jesse Jackson Jr. reportedly at N.C. prison

    Disgraced ex-congressman Jesse Jackson Jr. reportedly at N.C. prison
    WASHINGTON — A case filled with strange twists and turns took a detour into confusion Monday night when a spokeswoman linked to former Rep. Jesse Jackson Jr. announced that the ex-congressman had reported to federal prison but prison officials...
  • The sad state of personal finance education

    Education in the United States is a topic that provokes a lot of concern these days. We seem to be falling behind other countries in many areas, especially the sciences and mathematics, and that truly could undercut our future prosperity as a nation....
  • Box Office: 'Wolverine' Should End Flop Streak With One of Summer's Best Openings

    Cauterizing Hollywood's streak of big-budget bleeding at the box office, Fox's "The Wolverine" should score one of the best three-day openings this summer, tracking between $75 million and $80 million through Sunday. If the film lands at the high end...
  • Cate Blanchett luce en 'Blue Jasmine', nueve filme de Woody Allen

    Cate Blanchett luce en 'Blue Jasmine', nueve filme de Woody Allen
     Es tan grande el revés en la fortuna de la protagonista de la última película de Woody Allen, “Blue Jasmine”, que las posesiones de la integrante de la alta sociedad de Manhattan se reducen al mínimo: una chaqueta de Chanel, maletas de diseño...
  • Suzanne Somers should disavow her lame argument against Obamacare

    Suzanne Somers should disavow her lame argument against Obamacare
    Maybe too much sex has addled Suzanne Somers’ brain. In a much-mocked essay published by the Wall Street Journal on Monday, the 67-year-old self-help author and  star of the 1970s TV show “Three’s Company” held forth on what...