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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 61-72
  • There's no profit in L.A. bashing JPMorgan Chase

    There's no profit in L.A. bashing JPMorgan Chase
    Los Angeles City Councilman Gil Cedillo wants to punish JPMorgan Chase for its various financial misdeeds, possibly by cutting off business with the banking giant. But as city leaders learned a few years ago when Occupy L.A. pushed for a similar...
  • Letters: How to really punish bank executives

    Letters: How to really punish bank executives
    Re "U.S. gives bank's execs a free pass," Column, Jan. 8 Michael Hiltzik is right on the money. JPMorgan Chase was clearly in violation of laws regarding suspicious activity reporting, and the fact that it got its own money out of Bernard Madoff's Ponzi...
  • JPMorgan agrees to pay $1.7 billion for role in Madoff scheme

    JPMorgan agrees to pay $1.7 billion for role in Madoff scheme
    JPMorgan Chase & Co. has agreed to pay $1.7 billion to resolve a Justice Department investigation into its role in Bernard Madoff's multibillion-dollar Ponzi scheme. The giant Wall Street firm, which served as Madoff's primary banker, acknowledged...
  • JPMorgan to pay $2.6 billion for failing to report Madoff concerns

    When Bernard L. Madoff's Ponzi scheme was revealed five years ago, the big question was whether he pulled off the jaw-dropping crime by himself. Madoff stubbornly claimed to have acted alone, but it became clear Tuesday that he got a significant...
  • Bill would boost disclosures in corporate settlements with U.S.

    Bill would boost disclosures in corporate settlements with U.S.
    WASHINGTON — Concerned that targets of federal investigations are getting off lightly, two senators proposed legislation requiring the government to disclose all the details about settlements that allow companies to duck trials on allegations of...
  • Oscar nominations 2014: Streep, Bullock, Adams on best actress list

    In the best actress category, all five women nominated return as familiar faces to Oscar voters -- all having braved the Hollywood and Highland red carpet as Academy Awards nominees in years past, some hailed as winners. On Thursday, the academy chose...
  • The myth of the Obama 'attack' on JPMorgan's Jamie Dimon

    The myth of the Obama 'attack' on JPMorgan's Jamie Dimon
    JPMorgan Chase, one of our nation's ethically-challenged financial institutions, is facing another big fine. That means that once again you'll be hearing the right wing's go-to defense of the bank: President Obama's out to get JPMorgan Chairman Jamie...
  • Suzanne Somers, expert on nothing

    Noted healthcare economist Suzanne Somers received a full screen's worth of valuable Wall Street Journal online space the other day to deliver her judgment on the Affordable Care Act. Before we get to the substance of her argument, let's acknowledge...
  • Tell me again why Jamie Dimon is still chairman of JPMorgan

    Tell me again why Jamie Dimon is still chairman of JPMorgan
    The toll of JPMorgan Chase's relentless lawbreaking under Chairman and CEO Jamie Dimon may finally be getting real for shareholders. According to the bank's third-quarter financial results, released Friday morning, its litigation expenses of more than...
  • The "people who matter" support Jamie Dimon at JPMorgan

    The "people who matter" support Jamie Dimon at JPMorgan
    Who are the "people who matter"? According to Andrew Ross Sorkin of the New York Times, "investors, analysts, board members and, yes, even regulators," none of whom, he says, wants Jamie Dimon fired as chairman and CEO of JPMorgan Chase.  Is there a...
  • Off Broadway Review: 'The Commons of Pensacola'

    Western civilization may not be pining for a play about the wretched (and lightly disguised) family of imprisoned con man Bernie Madoff, but need it or not, actress-turned-scribe Amanda Peet has written just such a play in "The Commons of Pensacola."...
  • L.A. councilman targets JPMorgan Chase, calls for accountability

    L.A. councilman targets JPMorgan Chase, calls for accountability
    A Los Angeles city councilman called Wednesday for his colleagues to explore ways of punishing banking giant JPMorgan Chase & Co. for engaging in financial misconduct, possibly by terminating the company's contracts with the city. Councilman Gil...