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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 133-144
  • Wall Street Roundup: Stocks instead of jobs. Killing Dodd-Frank.

     
    Waiting for jobs. The number of people filing for unemployment benefits went down more than expected last week, but many analysts are waiting for the big monthly payroll numbers that will arrive Friday. Stocks instead of jobs. What are companies......
  • Wall Street Roundup: Flash crash culprits. Hedge fund top dog.

     
    Wall Street wins. Although it didn't garner great reviews, and didn't have much competition, Oliver Stone's new film about Wall Street came out on top in the box-office wars in its first week in theaters. Madoff associate dies. Bernard Madoff's......
  • 'Black Swan' author Taleb sees government debt as 'pure Ponzi scheme'

     
    A “black swan” event, as made indelible in popular culture by scholar and former Wall Street trader Nassim Taleb, is an extraordinarily rare occurrence of massive magnitude and consequence. That made Taleb’s 2007 book, “The Black Swan: The...
  • Wall Street Roundup: Bad news in good numbers. Betting on Madoff

     
    Bad news in good numbers. Although the unemployment rate dropped to 9.7% in May, the fall was largely a result of temporary census jobs, and new long-term jobs rose less than expected, the Labor Department reported. Madoff money. Some financial......
  • Wall Street: Gold falls, stocks waver

     
    Stocks are wavering as investors digest earnings reports and news from Europe. Earnings announcements from Goldman Sachs and Bank of America confirmed that Wall Street is indeed hurting....
  • Unemployment benefits expire for hundreds of thousands

     
    Losing your job is hard enough, but not being able to find a new one is even harder. Especially if your job search lasts for years, so long that your unemployment benefits run out and you have no money left.......
  • Bernard Madoff tells Barbara Walters: I can live with anger of people I defrauded

     
    Madoff revealed that he hasn't talked to his wife since their son Mark committed suicide in December. "Ruth not communicating is the hardest thing," Madoff told Walters. "Ruth doesn't hate me. She has no one. It's not fair to her. She lost her first son....
  • Kenneth Starr Charged With Running $30 Million Ponzi Scheme

    Kenneth Starr Charged With Running $30 Million Ponzi Scheme
    NEW YORK -- A financial adviser to celebrities including Wesley Snipes and Sylvester Stallone was arrested Thursday on charges that he carried out a $30 million fraud on his clients, using some of their money to purchase a lavish Manhattan apartment....
  • Madoff's Ex-Finance Chief Released On Bail

    Madoff's Ex-Finance Chief Released On Bail
    The former finance chief for jailed financier Bernard Madoff was released on $10 million bail Tuesday, 10 months after he admitted his role in an epic fraud that cost thousands of investors billions of dollars. Frank DiPascali, 53, left U.S. District...
  • LI Businessman Pleads Guilty In $413M Ponzi Scheme

    LI Businessman Pleads Guilty In $413M Ponzi Scheme
    A New York businessman nicknamed a "mini-Madoff" because he was arrested only weeks after the billion-dollar swindler, pleaded guilty Friday to charges he orchestrated a $413 million Ponzi scheme that victimized thousands of investors. Nicholas Cosmo,...
  • Bernie Madoff's Possessions Going Once, Going Twice, Sold at Auction

    Bernie Madoff's Possessions Going Once, Going Twice, Sold at Auction
    Anyone wanting to walk in the shoes of fallen financier Bernard Madoff was in luck Saturday: Thousands of belongings from his New York City penthouse, including his used shoes, went on the auction block. An anonymous bidder paid the highest price of...
  • Two Women Arrested In Connection With Madoff Case

    Two Women Arrested In Connection With Madoff Case
    Two longtime back office employees of disgraced Bernard Madoff have been arrested on charges that they helped the disgraced financier dupe investors for decades by making fictitious investments. The pair, identified as Joann Crupi and Annette Bongiorno,...