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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
  • Ten for Tuesday: Caroline says yes

     
    Obama leads after electoral votes were cast in state Capitols yesterday, and his election as President will become official when the votes are tallied in Congress on Jan. 6. Caroline Kennedy has thrown down for the Senate seat, and......
  • Obama and Medvedev: Russian revival?

     
    by Mark Silva It may not be the "reset button'' that Secretary of State Hillary Clinton presented her Russian counterpart earlier this year - a symbol of the need to start over again in relations between the United States and......
  • Sunday print column: Why hasn't Rothstein been arrested yet?

     
    See that our new system's technical glitches have prevented my Sunday column from being posted online, so here it is... WHY IS ROTHSTEIN STILL FREE? Last week, Scott Rothstein was seen swigging a lunchtime martini at the Capital Grill......
  • Bernard Madoff, a disaster foreseen

     
    by Frank James The more I learn about the Bernard Madoff and his alleged Ponzi scheme, the more it reminds me of the Space Shuttle Challenger disaster. That 1986 calamity, as you'll recall, was preventable. Engineers at the Thiokol rocket......
  • Madoff-SEC's very cozy tie?

     
    by Frank James The Bernard Madoff affair in which many wealthy people were allegedly scammed in a Ponzi scheme that may have cost investors $50 billion just gets stranger by the day, doesn't it? Now it turns out a Securities......
  • Madoff talked softly, wrote big DC checks

     
    by Frank James Bernard Madoff, Wall Street's alleged Ponzi king, made political donations to Washington types which evidently bought him some access in here. But it appears he had a light footprint in the nation's capital and I haven't seen......
  • Aging seems to be a common theme this September

    Aging seems to be a common theme this September
    This weekend the new season of Chicago theater gets underway in earnest. If there is an unintended theme of the fall, I'd say it is that Chicago theater finds itself collectively engaged with issues dealing with the final years of our lives. If you have a...
  • How risky investment bets helped cripple a major university

    How risky investment bets helped cripple a major university
    Yeshiva University in New York fessed up years ago to having lost more than $100 million in Bernard Madoff's Ponzi scheme.  But it was hard to blame the leadership of the prestigious Jewish institution for that misstep, given how many other prominent...
  • Justice for all ... except those too big for jail

    Fair warning: this book will make you angry. "The Divide: American Injustice in the Age of the Wealth Gap," by Matt Taibbi, is a volume of stories. Like the Vietnamese refugee and rape victim in San Diego who applied for public assistance, only to be...
  • Nancy Silverton, taste maker

    Nancy Silverton, taste maker
    The last time an Angeleno won the James Beard Foundation's outstanding chef award — a very big deal — it was 1998, smoking had just been banned in the state's restaurants, and Wolfgang Puck was the awardee. This year, a woman who once was...
  • Power rankings: No. 25 Mets

    Power rankings: No. 25 Mets
    Bernie Madoff, meet Ruben Tejada. Ruben Tejada, meet Bernie Madoff. Mets fans, meet your future until your swindled owner, Fred Wilpon, is replaced by someone who has the financial might Wilpon had when he and Nelson Doubleday bought the team from...