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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 241-252
  • 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...
  • 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...
  • 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...
  • Madoff Victims Sound Off On New Scam

    Thousands of Bernard Madoff's victims are learning they've been in the cross-hairs of yet another billion dollar scam. A spokesman for the Securities Investor Protection Corporation (SIPC) says a fraudulent foreign website has announced the discovery of...
  • Prosecutors seek to forfeit more than $75 million in Rothstein assets

    Prosecutors seek to forfeit more than $75 million in Rothstein assets
    Federal prosecutors took their next step Monday in stripping Ponzi schemer Scott Rothstein of all the worldly possessions he left behind when his massive fraud scheme blew up last fall. Rothstein had already agreed to give up tens of millions of...
  • Couple Sues SEC For $2.4M In Madoff Losses

    Couple Sues SEC For $2.4M In Madoff Losses
    Two investors who lost $2.4 million investing with failed financier Bernard Madoff have sued the U.S. Securities and Exchange Commission for their losses. Investors Phyllis Molchatsky, a disabled retiree, and Dr. Steven Schneider, filed the lawsuit...
  • Texas loses $19.5 million in Madoff investment

    Texas loses $19.5 million in Madoff investment
    AUSTIN, Texas (AP) - The Texas treasury lost $19.5 million through an investment in the Ponzi scheme run by convicted financial swindler Bernard Madoff. The Houston Chronicle reported Wednesday that the money was part of a $224.5 million investment the...
  • Madoff's Accountant Found Dead At Palm Beach Home

    Madoff's Accountant Found Dead At Palm Beach Home
    Bernard Madoff's associate, Jeffry[sic] Picower, was found dead Sunday at the bottom of the swimming pool at his home. Local authorities are now trying to find out what happened. Madoff and the Florida philanthropist had a decades-long friendship....
  • 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....
  • Madoff Associate Drowned In Pool

    Madoff Associate Drowned In Pool
    A man accused of making more than $7 billion off the investment schemes of jailed financial manager Bernard Madoff drowned after having a heart attack, authorities said Monday. Jeffry Picower, 67, was found at about noon Sunday by his wife, Barbara, at...
  • 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...
  • Grand strands: Choose your South Florida beach by its character

    Grand strands: Choose your South Florida beach by its character
    Every winter, Florida's beaches call to me, beckoning with their dazzling sunshine, sugar-fine sand and swaying palms. When I was in my 20s, I lived in South Florida for two years and spent weekends kayaking on the lagoons, discovering hole-in-the-wall...