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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
  • 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...
  • 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...
  • 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...