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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 217-228
  • Interview: Madoff Sons Say Mom Knew Everything

    Interview: Madoff Sons Say Mom Knew Everything
    NEW YORK (WPIX) -- Bernard Madoff's two sons are speaking out about their father, who was convicted of scamming investors out of billions of dollars in a massive Ponzi scheme. In an interview with Vanity Fair, Andrew and Mark Madoff said they felt...
  • David Letterman Apologizes to Sarah Palin

    David Letterman Apologizes to Sarah Palin
    NEW YORK -- Sarah Palin says she accepts David Letterman's apology for the joke about her daughter. The Alaska governor, in a statement issued Tuesday, said the apology was accepted "on behalf of all young women, like my daughters, who hope men who...
  • Sarah Palin accepts David Letterman's apology

    NEW YORK (AP) — Sarah Palin says she accepts David Letterman's apology for the joke he made about her daughter. The Alaska governor, in a statement issued Tuesday, said the apology was accepted "on behalf of all young women, like my daughters,...
  • Experts: Ruth Madoff May Not Have Known Of Ponzi Scheme

    Experts: Ruth Madoff May Not Have Known Of Ponzi Scheme
    What did Ruth Madoff know about her husband's massive Ponzi scheme and when did she know it-- Court documents examined by Newsday suggest the wife of Bernard Madoff didn't know for a period stretching beyond 2000 that he was running a fraud. The records...
  • Bernard Madoff's Lawyer Pushes for 12-Year Prison Term

    Bernard Madoff's Lawyer Pushes for 12-Year Prison Term
    The lawyer of Bernie Madoff has told a judge that 12 years behind bars is a fair punishment for the disgraced money manager, who is accused of defrauding thousands of dollars from investors in a $65-billion dollar Ponzi scheme. According to court...
  • Madoff Forfeits $170 Billion in Assets

    Madoff Forfeits $170 Billion in Assets
    Ponzi schemer, Bernard Madoff has been ordered to forfeit more than $170 billion in assets, prosecutors said Friday. U.S. District Judge Denny Chin entered the preliminary order of forfeiture the same day. It requires Maddoff hand over all real estate,...
  • Bernard Madoff Faces 150 Years in Prison

    Bernard Madoff Faces 150 Years in Prison
    The mastermind behind the largest ponzi scheme in history is scheduled to appear in court on Monday. Bernard Madoff, will be sentenced at U.S. District Court in Manhattan where he faces the possibility of spending the rest of his life in prison....
  • Madoff Teated For Dizziness, Hypertension

    Madoff Teated For Dizziness, Hypertension
    BUTNER, N.C. -- The federal Bureau of Prisons says Bernard Madoff is being treated at a prison medical center for dizziness and hypertension. Spokeswoman Traci Billingsley says Madoff is being treated at a hospital at the Butner federal prison in North...
  • Day Of Reckoning Comes For Bernard Madoff

    Day Of Reckoning Comes For Bernard Madoff
    It was a crime of epic proportions: a multibillion dollar Ponzi scheme that wiped out fortunes, drained retirement nest eggs, ruined charities and foundations, and even pushed some investors to commit suicide. Six months after the scandal came to light,...
  • Madoff sentenced to 150 years in prison

    Madoff sentenced to 150 years in prison
    Disgraced fund manager Bernard Madoff, 71, was sentenced to 150 years in prison Monday for masterminding one of the largest Ponzi schemes in U.S. financial history. "I think Judge [Denny] Chin had it absolutely correct," said Stanley Lehrer, a retired...
  • Bernard Madoff Sentenced To 150 Years In Prison

    Bernard Madoff Sentenced To 150 Years In Prison
    Bernard Madoff has been sentenced to 150 years in prison for his multibillion-dollar fraud scheme. U.S. District Judge Denny Chin handed down the sentenced in New York on Monday. The 71-year-old former Nasdaq chairman was arrested late last year after...
  • Madoff sentenced for multi-billion-dollar fraud