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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
  • 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...
  • Tell me again why Jamie Dimon is still chairman of JPMorgan

    The toll of JPMorgan Chase's relentless lawbreaking under Chairman and CEO Jamie Dimon may finally be getting real for shareholders. According to the bank's third-quarter financial results, released Friday morning, its litigation expenses of more than...
  • The "people who matter" support Jamie Dimon at JPMorgan

    Who are the "people who matter"? According to Andrew Ross Sorkin of the New York Times, "investors, analysts, board members and, yes, even regulators," none of whom, he says, wants Jamie Dimon fired as chairman and CEO of JPMorgan Chase.  Is there a...
  • MarksJarvis: Financial pros try to address lack of trust

    MarksJarvis: Financial pros try to address lack of trust
    It's about time. Five years have passed since the financial crisis struck. And only now do Wall Street executives seem to be gaining awareness that many potential clients have lost trust in them and the stock market, and have been voting with their...
  • Why greed may offer an evolutionary advantage

    Why greed may offer an evolutionary advantage
    Religion and science have long had disagreements — from Galileo, who was tried for teaching that the Earth was not the center of the universe, to battles over teaching evolution in public schools. But when it comes to greed, religion and science...
  • 'Blue Jasmine' trailer: Yo, Andrew Dice Clay in a Woody Allen film?

    The trailer for Woody Allen's  "Blue Jasmine" is out, providing a first peek at one of the summer's most counterintuitive bits of casting -- potty-mouthed comic Andrew Dice Clay in a dramatic role opposite Cate Blanchett, Alec Baldwin, Sally Hawkins and...
  • Madoff exhibit at the National Museum of Crime & Punishment

    Madoff exhibit at the National Museum of Crime & Punishment
    An exhibit about Bernie Madoff, the nation's biggest financial fraudster, opened this week at the National Museum of Crime & Punishment in Washington, DC. The world's biggest Ponzi schemer who was convicted after an estimated $65 billion fraud is...
  • Avi Hoffman brings latest one-man show to Boca Raton

    Avi Hoffman brings latest one-man show to Boca Raton
    Avi Hoffman is Jewish. Still. So much so the actor proclaims it with the title of his latest stage project, "Still Jewish After All These Years: A Lifetime in the Theatre." The one-man-show is being produced through May 19 by the Boca Raton Theatre...
  • Will new SEC hang whistle-blowers out to dry?

    The Securities and Exchange Commission is certainly looking all spiffy and new these days. Mary Jo White, the former federal prosecutor and Debevoise & Plimpton law partner, has taken over as chairman. She tapped her longtime deputy at the Southern...
  • 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......