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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
  • Wall Street Roundup: Warren Buffett's optimism. Bernard Madoff calling.

     
    Gold: Trading now at $1,413 per ounce, up 0.3% from Friday. Dow Jones industrial average: Trading now at 12,223.27, up 0.8% from Friday. Buffett's optimism. Warren Buffett sent his annual letter to shareholders on Saturday and expressed great optimism...
  • Lil Wayne lawsuit over 'The Carter' documentary takes another twist

     
    Despite boasting a pair of currently charting smash singles and a sold-out national tour, not everything is waffles and syrup for Lil Wayne. Known for his frequent travails with both the criminal and civil courts, Wayne's latest imbroglio stems from......
  • Just how risky should it have been to invest with Bernard Madoff?

     
    Suppose you put $10,000 into an account with an investment advisor who promises to double your money every year. Two years later your account statement says you've got $33,000, so you happily withdraw $5,000. It seems too good to be......
  • Monster Mash: 'Spider-Man' actress talks backstage drama; New York Times architecture critic leaving

     
    Nicolai Ouroussoff, New York Times architecture critic, stepping down...
  • Wall Street Roundup: Bernanke boost, Madoff checks coming

     
    Gold: Trading now at $1,587 per ounce, up 1.6% from Tuesday. Dow Jones industrial average: Trading now at 12,606.61, up 1.3% from Tuesday. Good morning. Comments from Ben Bernanke and data from China have penetrated the investor malaise of the......
  • Bernard Madoff's pants turned into $500 iPad covers

     
    Redemption for Bernard L. Madoff, sitting in a North Carolina prison serving a 150-year sentence for financial fraud, is unlikely. But his pants still have a chance. Wall Street denizens are snapping up iPad covers made from the Ponzi scheme......
  • Are Bernard Madoff's victims greedy?

     
    Some victims of Bernard Madoff's scam claimed they were entitled to the full value reported on their last account statement, even though Madoff essentially made up those numbers. A federal appeals court disagreed this week, and so did The Times' board....
  • Raj Rajaratnam gets 11 years, not 24; illness revealed in court

     
    Hedge fund magnate Raj Rajaratnam was sentenced to 11 years in prison -- the longest sentence ever for an insider-trading case, prosecutors said....
  • Wall Street: Gold falls, stocks waver

     
    Stocks are wavering as investors digest earnings reports and news from Europe. Earnings announcements from Goldman Sachs and Bank of America confirmed that Wall Street is indeed hurting....
  • Bernard Madoff tells Barbara Walters: I can live with anger of people I defrauded

     
    Madoff revealed that he hasn't talked to his wife since their son Mark committed suicide in December. "Ruth not communicating is the hardest thing," Madoff told Walters. "Ruth doesn't hate me. She has no one. It's not fair to her. She lost her first son....
  • ‘60 Minutes’: Bernard Madoff’s wife says they attempted suicide

     
    "I don’t know whose idea it was, but we decided to kill ourselves because it was so horrendous what was happening,” Ruth Madoff told Safer. "We had terrible phone calls. Hate mail, just beyond anything and I said ... 'I just can’t go...