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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 157-168
  • Judge to Madoff investors: Tough luck

    Judge to Madoff investors: Tough luck
    A federal district court judge in New York has delivered some more bad news to thousands of investors who lost money to Ponzi schemer Bernard Madoff. U.S. District Judge Denise Cote ruled that investors in feeder funds that took their money and placed it...
  • Mets Owners Will Go To Trial For Involvement In Madoff Scam

    Mets Owners Will Go To Trial For Involvement In Madoff Scam
    New York Mets owners have been ordered to stand trial in a civil lawsuit that's seeking to recover over $350 million that the team invested in Bernie Madoff's Ponzi scheme, a judge ruled Monday. U.S. District Court Judge Jed S. Rakoff ruled that Madoff's...
  • Ruth Madoff leaves Boca to live in Conn. house

    Ruth Madoff leaves Boca to live in Conn. house
    Ruth Madoff is now back up north after living with her sister in Boca Raton in the aftermath of her husband Bernard going to prison for his $65 billion Ponzi scheme. Her New York attorney, Peter Chavkin, referred Friday to a written statement Ruth Madoff...
  • Mets Owners Settle With Trustee In Madoff Case

    Mets Owners Settle With Trustee In Madoff Case
    The owners of the New York Mets settled for $162 million with the court-appointed trustee in the Bernard Madoff Ponzi scheme on Monday, according to the federal court handling the case. Trustee Irving Picard, who is in charge of recovering assets...
  • Madoff's wife living in Boca condo with her sister

    Madoff's wife living in Boca condo with her sister
    Ruth Madoff is living in Boca Raton with her older sister and brother-in-law, Joan and Robert Roman, who let her stay with them despite being fleeced by her husband, convicted Ponzi schemer Bernard Madoff, according to media reports and public records....
  • State warns of recent Central and South Florida investment fraud

    State warns of recent Central and South Florida investment fraud
    Bernard Madoff became a household name after he was arrested for his multi-billion-dollar Ponzi scheme. But plenty of other scam artists soon replaced the imprisoned Madoff. "People need to be on guard," said Franklin Widmann, director of securities...
  • Writer Releases Tape of Mel Gibson's Profanity-Laced Rant (Graphic Content)

    Writer Releases Tape of Mel Gibson's Profanity-Laced Rant (Graphic Content)
    LOS ANGELES -- Screenwriter Joe Eszterhas has released an audiotape of Mel Gibson recorded at the actor's home in Costa Rica in December, according to TheWrap. On the recording, obtained by TheWrap, Gibson can be heard screaming epithets at his house...
  • Madoff's court-approved victims to get first payment within days

    Madoff's court-approved victims to get first payment within days
    The delayed first checks to South Florida investors with court-allowed claims to Bernard Madoff's assets were mailed out Wednesday and should be in mail boxes within the next few days. The checks were supposed to be sent out Sept. 30 but court-...
  • News of the Weird: Homeland-Security Spending Binges, and "Smelling Salts"

    News of the Weird:  Homeland-Security Spending Binges, and "Smelling Salts"
    An option for suicide "with elegance and euphoria" is how Lithuanian-born Ph.D. candidate Julijonas Urbonas (London's Royal College of Art) described his "Euthanasia [Roller] Coaster," currently on the drawing board. Urbonas' model of "gravitational...
  • TV review: 'Don't Trust The B---- In Apartment 23' just yet

    TV review: 'Don't Trust The B---- In Apartment 23' just yet
    You may not want to wait to see James Van Der Beek in ABC's new comedy "Don't Trust The B---- In Apartment 23," but don't let the inconsistent premiere turn you away. The former "Dawson's Creek" hunk provides much of the charm and limited punch lines...
  • Madoff Wife, son say knew nothing of scheme: CBS

    NEW YORK (Reuters) - The wife and son of financial swindler Bernard Madoff said in their first interview to be broadcast on Sunday that they knew nothing of his estimated $65 billion Ponzi scheme, but feel shame for his "unforgiveable" crime. Madoff, 73,...
  • Summer reading: Fiction, poetry

    Busy Monsters William Giraldi W.W. Norton: $24.95 When a mediocre writer's bride-to-be leaves him to search for a legendary giant squid, he treks across the continent seeking counsel from nefarious creatures on how to win back her affections. (August)...