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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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  • China mulls eliminating death penalty for illegal fundraising, pimping

    Criminal code changes being discussed by Chinese lawmakers this week could in future spare the lives of white-collar offenders like Zeng Chengjie, a businessman often referred to as “China’s Bernie Madoff” who was executed in July last year.
  • 'Schitt's Creek' spoofs Kardashians

    'Schitt's Creek' spoofs Kardashians
    Announce a show called "Schitt's Creek," and you're going to get some attention. Of couse, the show will merit that attention because it stars Eugene Levy and Catherine O'Hara of "SCTV" and "Best in Show." Levy created the show with son Daniel Levy....

    From prison, Madoff emails support for convicted ex-employees

    NEW YORK (Reuters) - George Perez, a former computer programmer for Bernard Madoff who was convicted in March of aiding his boss' massive Ponzi scheme, got support from a noteworthy source this week: Madoff himself. In an email filed in Manhattan federal...

    Understanding the narcissists among us

    Understanding the narcissists among us
    You're so vain, I bet you think this story's about you — don't you. Don't you? We're paraphrasing Carly Simon's iconic song because it perfectly describes a narcissist. Vanity, entitlement and lack of empathy are the main traits you'll find...

    REVIEW: 'The Commons of Pensacola' at Northlight Theatre ★★½

     REVIEW: 'The Commons of Pensacola' at Northlight Theatre ★★½
    A potential Bernie Madoff does not lurk behind every financial planner's desk. This is just as well. Most of us working stiffs struggle enough to save rather than spend without watching our 401(k)s be subsumed into a Ponzi scheme. But experience does...