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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

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    It was bad enough that New York's most famous prosecutor, Preet Bharara, lost in the sweepstakes to become the next U.S. attorney general nominee to a fellow federal prosecutor from his own city. But Bharara and his team in the Manhattan U.S. attorney'...
  • Tough-On-Crime Rowland Earns His Stripes

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  • Tough-On-Crime Rowland Earns His Stripes

    Tough-On-Crime Rowland Earns His Stripes
    As a young guy, he was tough on crime. It was one of the ways he built his reputation. President George H.W. Bush came to Connecticut and said this about him: "He's tough on crime. He's been a strong supporter of our comprehensive crime bill, a bill...
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  • Madoff trustee to high court: Ruling blocking $4B in payouts

    The trustee finding money for victims of Bernard Madoff's epic fraud asked the U.S. Supreme Court on Tuesday to overturn a court ruling that he says may prevent the recovery of nearly $4 billion, reward those who unwittingly profited from the Ponzi scheme...
  • 26 recipes to celebrate Martha Stewart's prison release anniversary

    26 recipes to celebrate Martha Stewart's prison release anniversary
    Happy Anniversary, Martha! Ten years ago today, Martha Stewart was released from prison. As you may recall, Stewart spent five months at the minimum-security federal women's prison in Alderson, W. Va., after being convicted for lying to government...
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    To the editor: I can relate to the cringe that Erin Aubry Kaplan experiences when an African American commits a wrong that feeds into negative stereotypes. ("'Suge' Knight and the lurid legacy of gangsta rap," Op-Ed, Feb. 7) Back in 2008, I was hoping...
  • Madoff trustee returns $355M to investors, saying over half of allowable claims repaid in full

    Madoff trustee returns $355M to investors, saying over half of allowable claims repaid in full
    The New York trustee recovering money for investors cheated in Bernard Madoff's multibillion-dollar Ponzi scheme has distributed $355 million more to victims. Trustee Irving Picard said in a release Monday that over half of Madoff's investors with...
  • What to consider before consolidating retirement accounts

    What to consider before consolidating retirement accounts
    Q. Should I put all my retirement accounts with one brokerage/financial firm? I have two accounts at one firm out of town, and a recently inherited account with another firm here in my hometown. The same applies to my husband's accounts. My daughter...