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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 111-121
  • 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 pleadedĀ  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...
  • Not easy taking the heat in South Florida food trucks

    Not easy taking the heat in South Florida food trucks
    I have served my time in a South Florida food truck. And let me tell you, the next time you nosh on a chorizo-chuck-and-sirloin-steak burger smothered in avocado sauce or suck down a honeydew smoothie, served from strangers cramped inside a four-...
  • Remarkable Woman: Kelly Richmond Pope

    Remarkable Woman: Kelly Richmond Pope
    Most people don't start their day combing the newspaper for headlines about white-collar felons. But for Kelly Richmond Pope, it's just part of the job as a forensic accountant, and one she shares with students at DePaul University, where she is an...
  • The Bernard Madoff book collection: Rick Moody, Fyodor Dostoevsky

    How does an author of seriously literary fiction discover one of his books was owned by Bernie Madoff, the investor who defrauded his clients of billions of dollars? He sees it listed in an auction on EBay. That's how Rick Moody came to know that Madoff's...
  • Previewing 2013's books [Google+ Hangout]

    Join book critic David L. Ulin and me for a video chat about the books we're looking forward to in 2013. We'll be talking live Tuesday at 10 a.m. In part, the conversation will preview my article in Sunday's Los Angeles Times, which looks at the hot...
  • 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......