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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
  • Disgraced ex-congressman Jesse Jackson Jr. reportedly at N.C. prison

    Disgraced ex-congressman Jesse Jackson Jr. reportedly at N.C. prison
    WASHINGTON — A case filled with strange twists and turns took a detour into confusion Monday night when a spokeswoman linked to former Rep. Jesse Jackson Jr. announced that the ex-congressman had reported to federal prison but prison officials...
  • Jesse Jackson Jr. starts prison term for looting his campaign fund

    Former U.S. .Rep. Jesse Jackson Jr., the scion of the prominent civil rights family and one-time rising political star in Chicago, reported to federal prison Tuesday to begin serving a 30-month sentence for looting his campaign fund. “He is in our...
  • Suzanne Somers should disavow her lame argument against Obamacare

    Suzanne Somers should disavow her lame argument against Obamacare
    Maybe too much sex has addled Suzanne Somers’ brain. In a much-mocked essay published by the Wall Street Journal on Monday, the 67-year-old self-help author andĀ  star of the 1970s TV show “Three’s Company” held forth on what...
  • Suzanne Somers, expert on nothing

    Noted healthcare economist Suzanne Somers received a full screen's worth of valuable Wall Street Journal online space the other day to deliver her judgment on the Affordable Care Act. Before we get to the substance of her argument, let's acknowledge...
  • SAC agrees to plead guilty to insider trading

    NEW YORK — Steven A. Cohen faces what could be an end to his career as one of Wall Street's most profitable money men after his hedge fund agreed to plead guilty to charges of criminal insider trading. SAC Capital Advisors becomes the first...
  • 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 facesĀ 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...
  • Cate Blanchett: From awful to Oscar?

    Cate Blanchett: From awful to Oscar?
    It's not where you start, it's where you finish, a beloved song tells us. And that certainly applies to Cate Blanchett in "Blue Jasmine." She is the heavy favorite to win the best-actress Oscar next month. But the early going on the Woody Allen...
  • BOOKS

    BOOKS
    Carl Hiaasen: The title of Hiaasen’s new book says it all: “Dance of the Reptiles: Rampaging Tourists, Marauding Pythons, Larcenous Legislators, Crazed Celebrities, and Tar-Balled Beaches.” The collection of Hiaasen’s columns for...