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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 45-55
  • JPMorgan to pay $2.6 billion for failing to report Madoff concerns

    When Bernard L. Madoff's Ponzi scheme was revealed five years ago, the big question was whether he pulled off the jaw-dropping crime by himself. Madoff stubbornly claimed to have acted alone, but it became clear Tuesday that he got a significant...
  • Sens. Warren, Coburn propose more disclosure on federal settlements

    Sens. Warren, Coburn propose more disclosure on federal settlements
    WASHINGTON -- Sens. Elizabeth Warren and Tom Coburn on Wednesday introduced legislation requiring federal agencies to disclose more information about settlements that end government investigations, such as whether the money paid by companies is tax-...
  • 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....
  • Bill would boost disclosures in corporate settlements with U.S.

    WASHINGTON — Concerned that targets of federal investigations are getting off lightly, two senators proposed legislation requiring the government to disclose all the details about settlements that allow companies to duck trials on allegations of...
  • Letters: How to really punish bank executives

    Letters: How to really punish bank executives
    Re "U.S. gives bank's execs a free pass," Column, Jan. 8 Michael Hiltzik is right on the money. JPMorgan Chase was clearly in violation of laws regarding suspicious activity reporting, and the fact that it got its own money out of Bernard Madoff's Ponzi...
  • 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...
  • 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...