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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
  • 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-...
  • Letters: He can cover, but he can't cover up

    Apparently, Josh Shaw has not learned the lessons of history from Richard Nixon, Pete Rose, Lance Armstrong, Bernie Madoff, and baseball players from the steroid era. Mr. Shaw, a strategy for concealing wrongful conduct by orchestrating a deliberate...
  • Neocons turned Iraq into terrorist training ground

    Dick Cheney and his fellow neoconservatives misled us into a mismanaged war in Iraq where they were wrong on everything. This includes their reasons for the war, how long it would last and the sectarian violence it would unleash. They turned Iraq into the...
  • 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...
  • 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...
  • 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...
  • 'Glee' recap: 100th Episode, Part 1

    'Glee' recap: 100th Episode, Part 1
    "Glee" brought back a bunch of awesome old faces for the first part of its two-part special. The episode starts by pitting two of its most successful grads, Rachel and Mercedes, against each other. One is a future Broadway starlet; the other, a...
  • Out of the Blue: Chase away Chase, too many banks

    OK, so what's the story on the sudden surge of banks in our town? Big, hairy ones. The ones we bailed out after they caused the crash and who thanked us by collectively growing 30% bigger and gobbling up the weak. Four new banks have come to town...
  • 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...