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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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  • Personal Finance Q&A: Risks of keeping entire nest egg at one brokerage

    Dear Liz: I recently retired at 56 and am receiving a pension. My wife is set to retire next year at 56 and will also receive a pension. I chose to leave my 401(k) in my employer's plan but am planning to consolidate it with my wife's 457 and four 403(b)...
  • Reel Critics: 'American Sniper' right on target

    In Clint Eastwood's Oscar-winning film "Unforgiven," he caused the harsh light of day to shine on Hollywood's romantic notions of the Old West. In "American Sniper," he shines a severe spotlight on our ongoing wars in the Middle East by focusing on...
  • 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...
  • 'Get Hard' trailer: Kevin Hart prepares Will Ferrell for prison

    Will Ferrell is going from a mansion to the big house in the first trailer for "Get Hard," and Kevin Hart is helping him prepare for the none-too-pleasant move. Set for release March 27 from Warner Bros., the R-rated comedy stars Ferrell as James King,...
  • Pam Bondi lawsuit: Naples man ripped off elderly investors

    Pam Bondi lawsuit: Naples man ripped off elderly investors
    NAPLES — State Attorney General Pam Bondi has sued a Naples businessman on racketeering and fraud charges, alleging he stole millions of dollars from victims nationwide — many of them elderly — by making false promises and offering...
  • Tribute to the courtroom sketch artist

    The moment, in Bill Robles' recollection, came in a flash. Charles Manson grew agitated during his 1970 murder trial and lunged at the judge, a uniformed official tackling him around the waist and averting further mayhem in the courtroom. Within an hour,...
  • 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...
  • UConn's Tate George Now Representing Himself

    UConn's Tate George Now Representing Himself
    Ever since being convicted on four felony counts in a real estate Ponzi scheme, former University of Connecticut basketball icon Tate George has been complaining about his legal representation. He criticized his trial attorney, saying the lawyer did not...
  • Tate George Gets Permission To Represent Himself At Sentencing

    Tate George Gets Permission To Represent Himself At Sentencing
    Ever since being convicted on four felony counts in a real estate scheme, former University of Connecticut basketball star Tate George has been complaining about his legal representation. He criticized his trial attorney, saying he didn't listen to...
  • Five ex-Madoff aides face up to 20 years in prison

    Five ex-Madoff aides face up to 20 years in prison
    Five former employees of Bernard Madoff, convicted in March of helping the fund manager bilk investors of billions of dollars in his massive Ponzi scheme, will be sentenced this week, with prosecutors seeking prison terms of up to 20 years. Like the six-...
  • Bernie Madoff's portfolio manager sentenced to 10 years in prison

    Disgraced stockbroker Bernie Madoff's portfolio manager was sentenced to 10 years in prison on Monday and ordered to pay back $155 million. Daniel Bonventre, 67, who worked at Madoff Investment Securities, was sentenced in a New York federal court....