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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 181-192
  • 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...
  • 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...
  • '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...
  • 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...
  • Georges Marciano is rich, so of course he wants to be governor

    Georges Marciano was holding court at the Polo Lounge last week, making the case why a man best known for the snazzy jeans that made him a multimillionaire should be California's next governor. A political independent untethered to the usual party schisms...
  • America, 2008 and 2009

    America, 2008 and 2009
    In this space a year ago, we published nine editorials over three weeks in which we attempted to analyze the race for the presidency in the context of enduring, essential American values. Where, we asked, does a belief in liberty as the founders...
  • End of the book?

    End of the book?
    Worlds shudder and collapse all the time. There's no news in that. Just ask the Assyrians, the last emperor of the Han Dynasty, the final Romanoff or Napoleon -- or Bernard Madoff. But when it seems to be happening to your world, well, that's a...
  • Madoff's sorry excuses

    Madoff's sorry excuses
    Nothing my alcoholic, belt-wielding father ever did to me as a child enraged me as much as the day he pulled me aside, said how sorry he was for his shabby parenting and stuck out his hand in a gesture of conciliation. Implicit in the remorse-by-numbers...
  • Alger Hiss -- a case for our time

    Alger Hiss -- a case for our time
    Fifty-eight years ago today, Alger Hiss -- the defendant in an emblematic Cold War prosecution once called "the trial of the century" -- began serving a federal prison sentence for perjury. Until his death in 1996, Hiss maintained that he had never been a...
  • Letters to the editor

    Wary of unions Re “Obama picks union-backer for Labor post,” Dec. 19 Let me get something straight here. We are to understand that the autoworkers' unions and management are jointly responsible for the crippling of the U.S. auto industry....
  • 'Shield' Star Schemes New Series at FX

    "The Shield" star Michael Chiklis is staying in the FX fold, moving behind the camera to develop a series about a Ponzi scheme. The project, called "House of Cards," will focus on a group of people running a complicated scam similar to the one that...
  • Ten for a Monday: Israel goes to Iraq, with Paterson

     
    Dick Cheney and Joe Biden exchanged insults and different views on the role of the vice-presidency and the accomplishments of the Bush administration in TV interviews. Biden will be overseeing a task-force on the middle class. Obama, on vacation......