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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 12-22
  • Five ex-Madoff aides face up to 20 years in prison

    Five ex-Madoff aides face up to 20 years in prison
    Five former employees of Bernard Madoff, convicted in March of helping the fund manager bilk investors of billions of dollars in his massive Ponzi scheme, will be sentenced this week, with prosecutors seeking prison terms of up to 20 years. Like the six-...
  • Bernie Madoff's portfolio manager sentenced to 10 years in prison

    Disgraced stockbroker Bernie Madoff's portfolio manager was sentenced to 10 years in prison on Monday and ordered to pay back $155 million. Daniel Bonventre, 67, who worked at Madoff Investment Securities, was sentenced in a New York federal court....
  • Conocidos estafadores hacen de las suyas

    El estafador más flamante que conoce el mundo se llama Francisco Nicolás Gómez Iglesias, es español, y con sólo 20 años ya se ha ganado unas cuantas páginas de periódicos y menciones en Internet. Lo detuvieron el 14 de octubre pasado (en casa de su...
  • Foreign exchange manipulation allegations erode public opinion

    Foreign exchange manipulation allegations erode public opinion
    Tourists wouldn't notice it: Any manipulation of foreign currency exchange rates might add a fraction of a cent in paying for a meal at a Parisian bistro or booking a tour at the Great Wall of China. But multiply that by $5 trillion — the amount...
  • China mulls eliminating death penalty for illegal fundraising, pimping

    Criminal code changes being discussed by Chinese lawmakers this week could in future spare the lives of white-collar offenders like Zeng Chengjie, a businessman often referred to as “China’s Bernie Madoff” who was executed in July last...
  • 'Schitt's Creek' spoofs Kardashians

    'Schitt's Creek' spoofs Kardashians
    Announce a show called "Schitt's Creek," and you're going to get some attention. Of couse, the show will merit that attention because it stars Eugene Levy and Catherine O'Hara of "SCTV" and "Best in Show." Levy created the show with son Daniel Levy....
  • Understanding the narcissists among us

    Understanding the narcissists among us
    You're so vain, I bet you think this story's about you — don't you. Don't you? We're paraphrasing Carly Simon's iconic song because it perfectly describes a narcissist. Vanity, entitlement and lack of empathy are the main traits you'll find...
  • REVIEW: 'The Commons of Pensacola' at Northlight Theatre ★★½

     REVIEW: 'The Commons of Pensacola' at Northlight Theatre ★★½
    A potential Bernie Madoff does not lurk behind every financial planner's desk. This is just as well. Most of us working stiffs struggle enough to save rather than spend without watching our 401(k)s be subsumed into a Ponzi scheme. But experience does...
  • The business model is overrated [Commentary]

    The business model is overrated [Commentary]
    On behalf of Baltimore's stakeholders, I want to express my thanks to Gregory E. Thornton, the new chief executive officer of Baltimore City Public Schools, for his inspiring words ("Much work to be done," Aug. 25). In case you're wondering, the stake I...
  • 50 shows for fall: The game's just beginning

    50 shows for fall: The game's just beginning
    Cooler temperatures and changing leaves might cue the chants of “wait until next year” for Chicago baseball fans, but for theater lovers it's a whole new ballgame. Below are just a few promising names on this fall's roster of shows. HEAVY...
  • Andrew Madoff, Bernie Madoff's son, has died of cancer

    Andrew Madoff, the son of convicted fraudster Bernie Madoff, died on Wednesday from cancer, his lawyer said. He was 48. "Andrew Madoff has lost his courageous battle against mantle cell lymphoma," lawyer Martin Flumenbaum said in a statement. "He died...