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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
  • Both Jacksons get prison terms; he'll serve first

    Both Jacksons get prison terms; he'll serve first
    WASHINGTON – The end of the Jackson family political dynasty arrived Wednesday as a Chicago power couple ready-made for the cameras learned the next few years of their lives will be spent taking turns in prison. Former U.S. Rep. Jesse Jackson Jr.,...
  • 'Blue Jasmine': The strange history of the tune 'Blue Moon'

    “Blue moon, You saw me standing alone Without a dream in my heart Without a love of my own” The Lorenz Hart-Richard Rodgers romantic standard “Blue Moon” plays a significant role in Woody Allen’s new drama “Blue...
  • 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...
  • JPMorgan posts first loss under Dimon

    JPMorgan posts first loss under Dimon
    NEW YORK — The financial crisis has finally caught up with Jamie Dimon. As leader of JPMorgan Chase & Co., he steered the nation's largest bank through the Wall Street collapse of 2008. At the prodding of panicked U.S. regulators, the mighty New...
  • 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...
  • JPMorgan's latest legal tab rises as bank hammers out Justice deal

    JPMorgan's latest legal tab rises as bank hammers out Justice deal
    NEW YORK -- A large chunk of JPMorgan Chase & Co.'s mounting legal bills may get even bigger. The nation's largest bank could now pay a record $13 billion to settle a raft of federal and state probes, according to a person familiar with the...
  • The myth of the Obama 'attack' on JPMorgan's Jamie Dimon

    The myth of the Obama 'attack' on JPMorgan's Jamie Dimon
    JPMorgan Chase, one of our nation's ethically-challenged financial institutions, is facing another big fine. That means that once again you'll be hearing the right wing's go-to defense of the bank: President Obama's out to get JPMorgan Chairman Jamie...
  • What JPMorgan's $13-billion settlement won't resolve

    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...
  • 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

    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...