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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
  • 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....
  • Wells Fargo eclipses JPMorgan as most profitable U.S. bank

    NEW YORK — Massive legal payouts didn't just cost JPMorgan Chase & Co. billions last year. They also cost the Wall Street giant its title as America's most profitable bank. After weathering a barrage of legal and regulatory assaults in 2013, the...
  • Defending Generation Y: why millennial-bashers are wrong

    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...
  • L.A. councilman targets JPMorgan Chase, calls for accountability

    L.A. councilman targets JPMorgan Chase, calls for accountability
    A Los Angeles city councilman called Wednesday for his colleagues to explore ways of punishing banking giant JPMorgan Chase & Co. for engaging in financial misconduct, possibly by terminating the company's contracts with the city. Councilman Gil...
  • 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...
  • 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...
  • There's no profit in L.A. bashing JPMorgan Chase

    There's no profit in L.A. bashing JPMorgan Chase
    Los Angeles City Councilman Gil Cedillo wants to punish JPMorgan Chase for its various financial misdeeds, possibly by cutting off business with the banking giant. But as city leaders learned a few years ago when Occupy L.A. pushed for a similar...
  • Bouchat feels at home in District 9A [Political notebook]

    Bouchat feels at home in District 9A [Political notebook]
    For Eric Bouchat, being redrawn into District 9A was a homecoming of sorts. The Republican candidate for the House of Delegates is a Howard County native, graduated from Howard High School in 1985 and lived in Howard County for several years before moving...
  • Off Broadway Review: 'The Commons of Pensacola'

    Western civilization may not be pining for a play about the wretched (and lightly disguised) family of imprisoned con man Bernie Madoff, but need it or not, actress-turned-scribe Amanda Peet has written just such a play in "The Commons of Pensacola."...
  • What JPMorgan's $13-billion settlement won't resolve

    NEW YORK -- JPMorgan Chase & Co.'s historic $13-billion settlement with the federal government will pay down a major chunk of the bank's ballooning legal tab. The Justice Department on Tuesday announced the widely expected settlement of faulty...
  • 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...