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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 61-72
  • 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...
  • SAC agrees to plead guilty to insider trading

    NEW YORK — Steven A. Cohen faces what could be an end to his career as one of Wall Street's most profitable money men after his hedge fund agreed to plead guilty to charges of criminal insider trading. SAC Capital Advisors becomes the first...
  • JPMorgan posts first loss under Dimon

    JPMorgan posts first loss under Dimon
    NEW YORK — The financial crisis has finally caught up with Jamie Dimon. As leader of JPMorgan Chase & Co., he steered the nation's largest bank through the Wall Street collapse of 2008. At the prodding of panicked U.S. regulators, the mighty New...
  • The myth of the Obama 'attack' on JPMorgan's Jamie Dimon

    The myth of the Obama 'attack' on JPMorgan's Jamie Dimon
    JPMorgan Chase, one of our nation's ethically-challenged financial institutions, is facing another big fine. That means that once again you'll be hearing the right wing's go-to defense of the bank: President Obama's out to get JPMorgan Chairman Jamie...
  • Woody Allen's 'Blue Jasmine' -- Blanche DuBois or Mia Farrow?

    "THE BEST revenge is massive success," said Frank Sinatra. THE OTHER day I remarked that Cate Blanchett's modern take on Tennessee Williams' famous character Blanche DuBois, in Woody Allen's new movie "Blue Jasmine," was the female Oscar performance of...
  • JPMorgan agrees to pay $1.7 billion for role in Madoff scheme

    JPMorgan agrees to pay $1.7 billion for role in Madoff scheme
    JPMorgan Chase & Co. has agreed to pay $1.7 billion to resolve a Justice Department investigation into its role in Bernard Madoff's multibillion-dollar Ponzi scheme. The giant Wall Street firm, which served as Madoff's primary banker, acknowledged...
  • JPMorgan to pay $2.6 billion for failing to report Madoff concerns

    When Bernard L. Madoff's Ponzi scheme was revealed five years ago, the big question was whether he pulled off the jaw-dropping crime by himself. Madoff stubbornly claimed to have acted alone, but it became clear Tuesday that he got a significant...
  • Bill would boost disclosures in corporate settlements with U.S.

    Bill would boost disclosures in corporate settlements with U.S.
    WASHINGTON — Concerned that targets of federal investigations are getting off lightly, two senators proposed legislation requiring the government to disclose all the details about settlements that allow companies to duck trials on allegations of...
  • Letters: How to really punish bank executives

    Letters: How to really punish bank executives
    Re "U.S. gives bank's execs a free pass," Column, Jan. 8 Michael Hiltzik is right on the money. JPMorgan Chase was clearly in violation of laws regarding suspicious activity reporting, and the fact that it got its own money out of Bernard Madoff's Ponzi...
  • Suzanne Somers, expert on nothing

    Noted healthcare economist Suzanne Somers received a full screen's worth of valuable Wall Street Journal online space the other day to deliver her judgment on the Affordable Care Act. Before we get to the substance of her argument, let's acknowledge...
  • Tell me again why Jamie Dimon is still chairman of JPMorgan

    Tell me again why Jamie Dimon is still chairman of JPMorgan
    The toll of JPMorgan Chase's relentless lawbreaking under Chairman and CEO Jamie Dimon may finally be getting real for shareholders. According to the bank's third-quarter financial results, released Friday morning, its litigation expenses of more than...
  • The "people who matter" support Jamie Dimon at JPMorgan

    The "people who matter" support Jamie Dimon at JPMorgan
    Who are the "people who matter"? According to Andrew Ross Sorkin of the New York Times, "investors, analysts, board members and, yes, even regulators," none of whom, he says, wants Jamie Dimon fired as chairman and CEO of JPMorgan Chase.  Is there a...