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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
  • 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,...
  • Madoff Trustee Sues JPMorgan, Others For $6.4B

    Madoff Trustee Sues JPMorgan, Others For $6.4B
    The trustee trying to recover money for investors cheated by Bernard Madoff is suing JP Morgan Chase for $6.4 billion, saying the bank had a central role in abetting the disgraced financier as he carried out his fraud. Trustee Irving Picard announced...
  • 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...
  • 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,...
  • Peter Madoff, swindler's brother, pleads guilty in Ponzi scheme

    Peter Madoff, swindler's brother, pleads guilty in Ponzi scheme
    Bernard Madoff's younger brother pleaded guilty Friday to federal charges that he helped cover up the biggest Ponzi scheme in history. Peter Madoff, 66, pleaded guilty to charges of conspiracy and falsifying investment records in U.S. District Court...
  • Peter Madoff Pleads Guilty, Faces 10 Years

    Peter Madoff Pleads Guilty, Faces 10 Years
    NEW YORK -- Bernard Madoff's younger brother pleaded guilty Friday to federal charges that he helped cover up the biggest Ponzi scheme in history. Peter Madoff, 66, pleaded guilty to charges of conspiracy and falsifying investment records in U.S....
  • Madoff's Brother Pleads Guilty, But Not To The Ponzi Scheme

    Madoff's Brother Pleads Guilty, But Not To The Ponzi Scheme
    He has one of the most notorious names in modern U.S. history, after thousands of investors connected to him lost their life savings totaling $65 billion in wealth on paper. Now, a Madoff is free on bail, but it's not Bernie, the notorious Ponzi schemer,...
  • Not easy taking the heat in South Florida food trucks

    Not easy taking the heat in South Florida food trucks
    I have served my time in a South Florida food truck. And let me tell you, the next time you nosh on a chorizo-chuck-and-sirloin-steak burger smothered in avocado sauce or suck down a honeydew smoothie, served from strangers cramped inside a four-...