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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
  • 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)...
  • Hedge Fund Manager Eyeballing Minority Stake In Mets

    Hedge fund manager David Einhorn is playing ball with the New York Mets and on the verge of buying a minority stake in the cash-strapped Major League Baseball team for $200 million. Einhorn, the manager of Greenlight Capital, is in exclusive talks with...
  • Jeffry Picower dies at 67; Madoff friend was found at bottom of pool

    Jeffry Picower dies at 67; Madoff friend was found at bottom of pool
    Jeffry Picower, a philanthropist accused of profiting by more than $7 billion from the investment schemes of his longtime friend Bernard Madoff, was found at the bottom of the pool at his ocean-side mansion and died Sunday, police said. He was 67....
  • Help for uncontrollable lying

    Q: I have a problem: I lie all the time and cannot control it. I've hurt many people in my life. What kind of help is available for me? A: Everyone lies at some point or another. Some lies are minor, like bending the truth so you don't hurt another...
  • Playing with the numbers

    Playing with the numbers
    One of our most endearing qualities as a species is how thoroughly we examine a man-made disaster after it happens, as if understanding one crisis could, despite all evidence to the contrary, ward off the next one. To help us comprehend our current...
  • 'Stone's Fall' by Iain Pears

    'Stone's Fall' by Iain Pears
    In his internationally bestselling 1997 novel, intriguingly titled "An Instance of the Fingerpost," British author Iain Pears explored the murder of a 17th-century Oxford don via intricate plotting, ambitious structure, unreliable narrators and...
  • Dubai development may be down, but it's not out

    Dubai development may be down, but it's not out
    If a city can be spectacularly quiet, this waterfront city-state has certainly qualified in recent months. Hundreds of abandoned construction cranes languish above Dubai's gated communities and beach-side developments and, most dramatically, up and down...
  • Elie Wiesel: Embracing memory and madness

    Elie Wiesel: Embracing memory and madness
    "Purple in the grays. Vermillion in the orange shadows, on a cold, fine day." -- Pierre Bonnard, from his notebooks Manhattan in a winter storm seems galaxies away from Bonnard's bright interiors. I carry an exhibition catalog from the Metropolitan...