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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 78-88
  • Madoff's family, daughters-in-law sued for $255.3 million

    Madoff's family, daughters-in-law sued for $255.3 million
    The trustee representing victims of Bernard Madoff’s Ponzi scheme is now seeking $255.3 million from the investment advisor’s family. Irving H. Picard is expanding an existing lawsuit to also include three of Madoff’s sons' spouses. The...
  • Madoff middleman J. Ezra Merkin to pay $410 million in settlement

    Money manager and Bernie Madoff associate J. Ezra Merkin will pay $410 million to compensate investors after losing more than $1.2 billion of their money to Madoff’s Ponzi scheme. New York Atty. Gen. Eric T. Schneiderman on Monday called the...
  • Peter Madoff pleads guilty, faces 10 years in prison

    Peter Madoff pleads guilty, faces 10 years in prison
    Bernard Madoff's younger brother Peter pleadedĀ  guilty in federal court in Manhattan, the first of the swindler's kin to face charges in history's largest Ponzi scheme. Peter Madoff, who for years worked as the chief compliance officer and senior...
  • Dutch scientist accused of falsifying data

    Social psychologist Diederik Stapel made a name for himself by pushing his field into new territory. His research papers appeared to demonstrate that exposure to litter and graffiti makes people more likely to commit small crimes and that being in a messy...
  • Power rankings: No. 25 Mets

    Power rankings: No. 25 Mets
    Bernie Madoff, meet Ruben Tejada. Ruben Tejada, meet Bernie Madoff. Mets fans, meet your future until your swindled owner, Fred Wilpon, is replaced by someone who has the financial might Wilpon had when he and Nelson Doubleday bought the team from...
  • Wall Street Roundup: Flash crash culprits. Hedge fund top dog.

     
    Wall Street wins. Although it didn't garner great reviews, and didn't have much competition, Oliver Stone's new film about Wall Street came out on top in the box-office wars in its first week in theaters. Madoff associate dies. Bernard Madoff's......
  • Wall Street Roundup: Stocks instead of jobs. Killing Dodd-Frank.

     
    Waiting for jobs. The number of people filing for unemployment benefits went down more than expected last week, but many analysts are waiting for the big monthly payroll numbers that will arrive Friday. Stocks instead of jobs. What are companies......
  • Wall Street Roundup: Private equity's foreclosure gains. Harvard Club rejects Eliot Spitzer.

     
    Fewer jobless claims. The number of people filing for unemployment claims last week fell more than expected from the previous week. Goldman and Buffett. Goldman Sachs wants to pay Warren Buffett back the $5 billion he lent the firm during......
  • Monster Mash: Broadway's 'Spider-Man' partners with Syfy; Chinese vase may have set record at auction

     
    Promotional web: The producers of Broadway's "Spider-Man, Turn Off the Dark" have formed a marketing deal with the cable station Syfy. (Variety) Prized artifact: An 18th century Chinese vase has sold at auction for what is believed to be a......
  • Wall Street Roundup: Bernard Madoff's Wall Street accomplice? Central banker to the rich.

     
    Gold: Trading now at $1,407 per ounce, up 1.2% from Thursday. Dow Jones industrial average: Trading now at 11,332.63, down 0.3% from Thursday. Breaking the rally. An unexpectedly bad jobs report has broken the market's upward climb of the last......
  • Madoff is mourning alone

     
    Bernard Madoff will be mourning his son's death alone. Madoff's lawyer, Ira Sorkin, said Monday that his client would not be attending the funeral of Madoff's elder son, Mark, "out of consideration for his daughter-in-law and his grandchildren." Mark...