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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 34-44
  • 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...
  • 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...
  • 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...
  • 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...
  • Oscar nominations 2014: Streep, Bullock, Adams on best actress list

    In the best actress category, all five women nominated return as familiar faces to Oscar voters -- all having braved the Hollywood and Highland red carpet as Academy Awards nominees in years past, some hailed as winners. On Thursday, the academy chose...
  • 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....
  • 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...