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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 100-110
  • Madoff's court-approved victims to get first payment within days

    Madoff's court-approved victims to get first payment within days
    The delayed first checks to South Florida investors with court-allowed claims to Bernard Madoff's assets were mailed out Wednesday and should be in mail boxes within the next few days. The checks were supposed to be sent out Sept. 30 but court-...
  • Ruth Madoff leaves Boca to live in Conn. house

    Ruth Madoff leaves Boca to live in Conn. house
    Ruth Madoff is now back up north after living with her sister in Boca Raton in the aftermath of her husband Bernard going to prison for his $65 billion Ponzi scheme. Her New York attorney, Peter Chavkin, referred Friday to a written statement Ruth Madoff...
  • First payout from Madoff trustee to go out in Sept.; average is $222,551

    First payout from Madoff trustee to go out in Sept.; average is $222,551
    By the end of September, South Florida investors with approved claims to convicted Ponzi schemer Bernard Madoff's assets will receive the first check from worldwide efforts to reclaim the con man's ill-gotten money. The ripped-off Madoff investors...
  • Power rankings: No. 25 Mets

    Power rankings: No. 25 Mets
    Bernie Madoff, meet Ruben Tejada. Ruben Tejada, meet Bernie Madoff. Mets fans, meet your future until your swindled owner, Fred Wilpon, is replaced by someone who has the financial might Wilpon had when he and Nelson Doubleday bought the team from...
  • Madoff exhibit at the National Museum of Crime & Punishment

    Madoff exhibit at the National Museum of Crime & Punishment
    An exhibit about Bernie Madoff, the nation's biggest financial fraudster, opened this week at the National Museum of Crime & Punishment in Washington, DC. The world's biggest Ponzi schemer who was convicted after an estimated $65 billion fraud is...
  • Social Security sets off sparks

    Social Security sets off sparks
    If there was still any doubt that Social Security is the proverbial third rail of American politics — that is, potentially deadly to the touch — Gov. Rick Perry has provided the electrifying answer: You don't mess with the monthly checks,...
  • As season dawns, some fans hope for Angelos to sell the Orioles

    As season dawns, some fans hope for Angelos to sell the Orioles
    Scott Evans remembers the soft glow of the small television set, and the way his stepfather tried to calm him and his sister for the benefit of the neighbors in the apartment below. But who, on this night, was not celebrating? It was 1983 and the...
  • The Interview John Hauserman, Certified Financial Planner board ambassador

    The Interview John Hauserman, Certified Financial Planner board ambassador
    Financial advisers often have an alphabet of professional designations behind their names, but the dominant one remains "CFP," or certified financial planner. The CFP Board, which sets the national standards for financial planners, has announced in the...
  • We're turning America into a giant casino

    We're turning America into a giant casino
    Anyone who says you can get rich through gambling is a fool or a knave. Multiply the size of the prize by your chance of winning it and you'll always get a number far lower than what you put into the pot. The only sure winners are the organizers -- casino...
  • TV review: 'Don't Trust The B---- In Apartment 23' just yet

    TV review: 'Don't Trust The B---- In Apartment 23' just yet
    You may not want to wait to see James Van Der Beek in ABC's new comedy "Don't Trust The B---- In Apartment 23," but don't let the inconsistent premiere turn you away. The former "Dawson's Creek" hunk provides much of the charm and limited punch lines...
  • Family ties take a beating, stay strong

    Family ties take a beating, stay strong
    In one of the few truly unexpected twists in Laurie Sandell's recent book "Truth and Consequences: Life Inside the Madoff Family" (Little, Brown and Co.), Ruth Madoff, the wife of disgraced financier Bernie Madoff, has nowhere to turn. Her husband of...