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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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  • 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...
  • Daum: Denial — Madoff style

    Daum: Denial — Madoff style
    I didn't see any Ruth Madoff masks on Halloween night, but it wouldn't have surprised me if I had. The wife of disgraced Wall Street Ponzi schemer Bernard Madoff is Pariah No. 1 this week, followed closely by her son, Andrew. The two, along with Andrew'...
  • Dutch scientist accused of falsifying data

    Social psychologist Diederik Stapel made a name for himself by pushing his field into new territory. His research papers appeared to demonstrate that exposure to litter and graffiti makes people more likely to commit small crimes and that being in a messy...
  • Don't blame Obama for the world's problems; blame yourself

    Not long ago, in the "Readers Respond" column, one of your readers said that President Barack Obama's "failure to prevail" in the recent debt ceiling fiasco "speaks to his failure in leadership." It clearly does not. The debt ceiling "crisis" is not new...
  • In federal prison, Baltimore cops get no breaks

    Police officers convicted of a crime in Maryland and sentenced to state prison are typically housed in segregated areas for their safety, far from most other inmates. But those prosecuted in U.S. District Court and sent to federal prison — like the...
  • Mailbag: Stop attacking the labor unions

    Re. "Commentary: Tactics from the union playbook stay the same," (Aug. 29): An odd incident that may or may not have any connection whatsoever to any labor union is being hyped to promote an insidious antiunion agenda. Even if one were to accept,...