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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 67-77
  • 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

    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

    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 and  star of the 1970s TV show “Three’s Company” held forth on what...
  • Suzanne Somers, expert on nothing

    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...
  • '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...
  • 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...
  • 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...