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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
  • David Chase Moves In and Out Next Door

    Until her death in 2004, author and activist Susan Sontag owned and occupied a penthouse atop one of the four red brick towers that anchor the corners of the titanic London Terrace in New York's once gritty, now gallery-filled Chelsea nabe. The 2,700-...
  • Theater troupe takes on Jewish female stereotypes

    Theater troupe takes on Jewish female stereotypes
    Ronda Spinak squeezed more folding chairs into a Brentwood living room, which that afternoon had been transformed, with much shuffling of couches and tables, into a temporary theater. Moving around the space, she listened for echoes and background...
  • Deciphering the alphabet soup of advisers

    Susan Cohen and Barry Berg, of Maplewood, N.J., handled their own finances for years. But when their special-needs son, Julian, turned 18 in 2013, they had a docket of financial decisions to make for the young man, born with Fragile X syndrome. They...
  • 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...
  • Film Review: 'Master of the Universe'

    Forget "Wall Street" and the "Wolf" thereof: Rainer Voss is the real deal, just as chilling but not so funny. The former investment banker is interviewed at length in Marc Bauder's riveting docu "Master of the Universe," shot in the emptied rooms of a...
  • Steve Ballmer bails out Donald Sterling

    Given the news that former Microsoft chief Steve Ballmer wants to buy the Clippers for $2 billion ("NBA record $2 billion offered for Clippers," May 29), current owner Donald Sterling really does deserve one of those awards he's advertised in The Times...
  • 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...
  • Mayo: Rosenfeldt finally charged in Rothstein case

    Mayo: Rosenfeldt finally charged in Rothstein case
    My reaction to Stuart Rosenfeldt finally being charged with a crime in l'affaire Rothstein: Three words and a bleep. As in: "It's about (bleeping) time." It's incredible to me that it's taken the feds nearly five years to roll up Scott Rothstein's...
  • 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...
  • Colonial Realty's Founders Bilked Nearly 7,000 Investors

    Colonial Realty's Founders Bilked Nearly 7,000 Investors
    Bernard Madoff's investor fraud took the Ponzi scheme to a new level, but it wasn't so long ago that Connecticut had its own infamous fraud case tied to some of Hartford's most well-known real estate: Colonial Realty Co. And in the two decades since...
  • Matt Taibbi rips into America's growing income gap in 'The Divide'

    Matt Taibbi begins his sixth book, "The Divide: American Injustice in the Age of the Wealth Gap," with a simple formulation: "Poverty goes up; Crime goes down; Prison population doubles." It's a snapshot, a way to represent what Taibbi sees as the...