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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
  • Bernie Madoff's portfolio manager sentenced to 10 years in prison

    Disgraced stockbroker Bernie Madoff's portfolio manager was sentenced to 10 years in prison on Monday and ordered to pay back $155 million. Daniel Bonventre, 67, who worked at Madoff Investment Securities, was sentenced in a New York federal court....
  • Foreign exchange manipulation allegations erode public opinion

    Foreign exchange manipulation allegations erode public opinion
    Tourists wouldn't notice it: Any manipulation of foreign currency exchange rates might add a fraction of a cent in paying for a meal at a Parisian bistro or booking a tour at the Great Wall of China. But multiply that by $5 trillion — the amount...
  • China mulls eliminating death penalty for illegal fundraising, pimping

    China mulls eliminating death penalty for illegal fundraising, pimping
    Criminal code changes being discussed by Chinese lawmakers this week could in future spare the lives of white-collar offenders like Zeng Chengjie, a businessman often referred to as “China’s Bernie Madoff” who was executed in July last...
  • Conocidos estafadores hacen de las suyas

    El estafador más flamante que conoce el mundo se llama Francisco Nicolás Gómez Iglesias, es español, y con sólo 20 años ya se ha ganado unas cuantas páginas de periódicos y menciones en Internet. Lo detuvieron el 14 de octubre pasado (en casa de su...
  • 'Schitt's Creek' spoofs Kardashians

    'Schitt's Creek' spoofs Kardashians
    Announce a show called "Schitt's Creek," and you're going to get some attention. Of couse, the show will merit that attention because it stars Eugene Levy and Catherine O'Hara of "SCTV" and "Best in Show." Levy created the show with son Daniel Levy....
  • 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...
  • 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...
  • 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...
  • 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...
  • 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...