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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 23-33
  • Disgraced ex-congressman Jesse Jackson Jr. reportedly at N.C. prison

    Disgraced ex-congressman Jesse Jackson Jr. reportedly at N.C. prison
    WASHINGTON — A case filled with strange twists and turns took a detour into confusion Monday night when a spokeswoman linked to former Rep. Jesse Jackson Jr. announced that the ex-congressman had reported to federal prison but prison officials...
  • Cate Blanchett: From awful to Oscar?

    Cate Blanchett: From awful to Oscar?
    It's not where you start, it's where you finish, a beloved song tells us. And that certainly applies to Cate Blanchett in "Blue Jasmine." She is the heavy favorite to win the best-actress Oscar next month. But the early going on the Woody Allen...
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    Brazen Careerist Some of the most repeated knocks on GenY by the Millennial-bashing experts in media-land are that they're selfie-posting, social media-crazed underachievers. While there's no solid defense for taking excessive selfies, spreading hateful...
  • Artful cons in 'Blue Jasmine,' 'Wolf of Wall Street,' 'American Hustle'

    Artful cons in 'Blue Jasmine,' 'Wolf of Wall Street,' 'American Hustle'
    American moviegoers love a good con man. Burt Lancaster won an Academy Award for playing one in 1960's "Elmer Gantry." Michael Douglas took home an Oscar in 1988 as master "Wall Street" manipulator Gordon Gekko. And Robert Redford got nominated for his...
  • Suzanne Somers calls Obamacare 'Ponzi scheme' in error-ridden article

    Suzanne Somers calls Obamacare 'Ponzi scheme' in error-ridden article
    Now that Suzanne Somers has your attention with claims about all the sex she's having, the former "Three's Company" star-turned-longevity-expert has turned her attention to Obamacare. And she doesn't like what she sees. "Boomers are smart," Somers wrote...
  • Golden Globes to honor Woody Allen, whether he wants it or not

    Golden Globes to honor Woody Allen, whether he wants it or not
    How do you give a lifetime achievement award to a director still very much in motion, to an artist who refuses to settle down, to someone who actively does not want one? Woody Allen is in the midst of a run of box-office successes and critical acclaim....
  • Oscars 2014: Producers discuss the key scenes for acting nominees

    Pinning down the "best" scene of any Oscar-nominated performance is something of a Stygian nightmare for producers because — as they correctly protest — if an actor or actress has been nominated, they have far more than one great scene. But...
  • JPMorgan profit slips 7% in fourth quarter

    NEW YORK -- JPMorgan Chase & Co.'s profit slipped 7% in the fourth quarter as the bank's legal costs mounted and investment banking slumped. The nation's largest bank said Tuesday it earned $5.3 billion, or $1.30 a share, down from $5.7 billion, or $1....
  • Here's why Madoff employees went along with his scam

    It’s one of the more baffling elements of the Bernard L. Madoff saga. Why did so many employees of the disgraced money manager go along with the record-setting Ponzi scheme rather than blow the whistle on such a brazen financial felon? Eight...
  • Sens. Warren, Coburn propose more disclosure on federal settlements

    Sens. Warren, Coburn propose more disclosure on federal settlements
    WASHINGTON -- Sens. Elizabeth Warren and Tom Coburn on Wednesday introduced legislation requiring federal agencies to disclose more information about settlements that end government investigations, such as whether the money paid by companies is tax-...