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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
  • Report: Martin Luther King's Son Interested In Buying Into Mets

    Report: Martin Luther King's Son Interested In Buying Into Mets
    The son of Martin Luther King Jr. is reportedly interested in becoming a minority owner of the New York Mets. The New York Post reported Sunday that Martin Luther King III was part of a bid that includes former Mets first baseman Ed Kranepool, Donn...
  • NY Mets Owners Hit With $300 Million Madoff Lawsuit

    NY Mets Owners Hit With $300 Million Madoff Lawsuit
    The owners of the New York Mets turned a blind eye to Bernard Madoff's Ponzi scheme and should give up roughly $300 million of fictitious profits tied to the now imprisoned swindler, a lawsuit charges. Irving Picard, the court-appointed trustee...
  • 4-Alarm Blaze Consumes Historic Upper East Side Synagogue

    4-Alarm Blaze Consumes Historic Upper East Side Synagogue
    A four-alarm blaze left a historic synagogue on Manhattan's Upper East Side in shambles Monday. According to officials, the fire tore through the Kehilath Jeshurun Synagogue at around 8 p.m. Flames could be seen shooting out of the windows and through...
  • Bernard Madoff Speaks From Jail

    Bernard Madoff Speaks From Jail
    Bernard Madoff—convicted in the biggest “Ponzi Scheme” in history—is trying to rehabilitate his image from federal prison in North Carolina. In a series of phone calls to reporter Steve Fishman, of New York magazine, Madoff said...
  • Review: 'A Disposition to Be Rich' relates a Wall Street con

    Review: 'A Disposition to Be Rich' relates a Wall Street con
    A Disposition to Be Rich How a Small-Town Pastor's Son Ruined an American President, Brought on a Wall Street Crash, and Made Himself the Best-Hated Man in the United States Geoffrey C. Ward Alfred A. Knopf: 415 pp., $28.95. In 1863, the young...
  • Labels, criminals and bigotry

    I was not downtown during the recent disturbances, but I will take Del. Pat McDonough's word that the groups of young thugs were, in fact, black ("Baltimore and bigotry," May 18). Here is the point I want to make: The fact that they were black had nothing...
  • Madoff middleman J. Ezra Merkin to pay $410 million in settlement

    Money manager and Bernie Madoff associate J. Ezra Merkin will pay $410 million to compensate investors after losing more than $1.2 billion of their money to Madoff’s Ponzi scheme. New York Atty. Gen. Eric T. Schneiderman on Monday called the...
  • Peter Madoff pleads guilty, faces 10 years in prison

    Peter Madoff pleads guilty, faces 10 years in prison
    Bernard Madoff's younger brother Peter pleaded  guilty in federal court in Manhattan, the first of the swindler's kin to face charges in history's largest Ponzi scheme. Peter Madoff, who for years worked as the chief compliance officer and senior...
  • Madoff's Brother Pleads Guilty, But Not To The Ponzi Scheme

    Madoff's Brother Pleads Guilty, But Not To The Ponzi Scheme
    He has one of the most notorious names in modern U.S. history, after thousands of investors connected to him lost their life savings totaling $65 billion in wealth on paper. Now, a Madoff is free on bail, but it's not Bernie, the notorious Ponzi schemer,...
  • 'Wooo!' Amtrak train briefly hits 111 mph in test run

    'Wooo!' Amtrak train briefly hits 111 mph in test run
    ABOARD AMTRAK TEST TRAIN – The fierce, unresolved debate over whether the U.S. can afford to invest billions of dollars on high-speed passenger rail seemed to fall by the wayside, at least temporarily, in the heartland on Friday when an Amtrak train...
  • Tom Z's Highly Unethical College Football Gambling Picks: Week 9

    Tom Z's Highly Unethical College Football Gambling Picks: Week 9
    Well, we’ve reached that point of the season where everyone starts freaking out about hypothetical situations. “Can Kansas State jump Florida to get into the top two?” “Will Oregon go undefeated and be left out of the...