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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 56-66
  • 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...
  • 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...
  • The Bernard Madoff book collection: Rick Moody, Fyodor Dostoevsky

    How does an author of seriously literary fiction discover one of his books was owned by Bernie Madoff, the investor who defrauded his clients of billions of dollars? He sees it listed in an auction on EBay. That's how Rick Moody came to know that Madoff's...
  • Previewing 2013's books [Google+ Hangout]

    Join book critic David L. Ulin and me for a video chat about the books we're looking forward to in 2013. We'll be talking live Tuesday at 10 a.m. In part, the conversation will preview my article in Sunday's Los Angeles Times, which looks at the hot...
  • Have we already forgotten about Bernie Madoff?

     
    An audit of auditors who examine investment brokers and dealers says auditors aren't doing a good enough job, a sad sign considering how many problems there have been in that sector. The findings are in a recent report from the......
  • Obama ad invokes Big Bird in sarcastic attack on Romney

     
    UPDATES WITH REACT FROM SESAME STREET Barack Obama's campaign is up with a bitingly sarcastic new ad playing off Mitt Romney's pledge in last week's debate to cut funding for PBS — and Big Bird. It stats with pictures of Bernie Madoff, Ken Lay and...
  • Durkee attorney challenges number of fraud victims listed by feds

     
    Kinde Durkee attorney says number of fraud victims ``overstated.''...
  • He's too sexy for this spoof

     
    The Associated Press reports: BEIJING -- The online version of China's Communist Party newspaper has hailed a report by The Onion naming North Korean dictator Kim Jong Un as the "Sexiest Man Alive" -- not realizing it is satire. The......
  • Woody Allen Weighs a Return to Standup and More During Busy 'Blue' Period

    In the more than 40 years since he gave up touring as a standup comic to focus on his film career, Woody Allen has never missed his old life on the nightclub circuit. Until one night last month, as he sat in the audience at the Cafe Carlyle watching...
  • Box Office: 'Wolverine' Should End Flop Streak With One of Summer's Best Openings

    Cauterizing Hollywood's streak of big-budget bleeding at the box office, Fox's "The Wolverine" should score one of the best three-day openings this summer, tracking between $75 million and $80 million through Sunday. If the film lands at the high end...