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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 169-180
  • 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...
  • Mailbag: Stop attacking the labor unions

    Re. "Commentary: Tactics from the union playbook stay the same," (Aug. 29): An odd incident that may or may not have any connection whatsoever to any labor union is being hyped to promote an insidious antiunion agenda. Even if one were to accept,...
  • Film review: Richard Gere plays one of the 1% in 'Arbitrage'

    Film review: Richard Gere plays one of the 1% in 'Arbitrage'
    “Arbitrage” is not about Jack Abramoff, or Bernie Madoff or even Mitt Romney. But resemblances between any one of them and the film's protagonist, Robert Miller (Richard Gere), are hardly coincidental. Miller is a stand-in for a whole class of...
  • Madoff Moved From Federal Jail To Medical Center

    Madoff Moved From Federal Jail To Medical Center
    The Bureau of Prisons says Bernard Madoff has been moved from a North Carolina federal prison to a prison medical facility. The bureau noted the change on its Web site Wednesday. A spokeswoman did not immediately return a phone message. Madoff has...
  • Beyond Greed, An Ethical Self-Deception

    Beyond Greed, An Ethical Self-Deception
    'As the years went by I realized that my arrest and this day would inevitably come." So claimed disgraced Bernard Madoff in his plea statement on March 12. Yet, remarkably, he continued to defraud investors right up to his arrest in December. Ask...
  • Madoff settles in SEC civil case

    Accused Wall Street scammer Bernard Madoff has settled a large part of the civil case brought against him by the Securities and Exchange Commission, the agency said Monday. Without admitting or denying any of the allegations against him, Madoff agreed to...
  • Madoff's wife pulled millions from firm

    The wife of Bernard Madoff withdrew more than $15 million from a firm co-owned by her husband -- including $10 million on the day their children turned her husband over to authorities for an alleged $50 billion Ponzi scheme, the top securities regulator...
  • Trustee: Madoff hadn't bought securities for clients in years

    The trustee in charge of untangling the mess left behind by Bernard Madoff told a packed auditorium Friday that there was no indication the disgraced money manager had bought securities for his clients for more than a decade. "We have no evidence to...
  • Ponzi schemers typically have charm in common

    They're smart and charming. They have an aura of success about them and exude respectability. Above all, they instill confidence. Which is, after all, why they are called con men. Bernard Madoff, the Wall Street trader accused of running the biggest...
  • 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...