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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
  • 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...
  • L.A. councilman targets JPMorgan Chase, calls for accountability

    L.A. councilman targets JPMorgan Chase, calls for accountability
    A Los Angeles city councilman called Wednesday for his colleagues to explore ways of punishing banking giant JPMorgan Chase & Co. for engaging in financial misconduct, possibly by terminating the company's contracts with the city. Councilman Gil...
  • Here's why Madoff employees went along with his scam

    Here's why Madoff employees went along with his scam
    It’s one of the more baffling elements of the Bernard L. Madoff saga. Why did so many employees of the disgraced money manager go along with the record-setting Ponzi scheme rather than blow the whistle on such a brazen financial felon? Eight...
  • There's no profit in L.A. bashing JPMorgan Chase

    There's no profit in L.A. bashing JPMorgan Chase
    Los Angeles City Councilman Gil Cedillo wants to punish JPMorgan Chase for its various financial misdeeds, possibly by cutting off business with the banking giant. But as city leaders learned a few years ago when Occupy L.A. pushed for a similar...
  • Bouchat feels at home in District 9A [Political notebook]

    Bouchat feels at home in District 9A [Political notebook]
    For Eric Bouchat, being redrawn into District 9A was a homecoming of sorts. The Republican candidate for the House of Delegates is a Howard County native, graduated from Howard High School in 1985 and lived in Howard County for several years before moving...
  • Matt Taibbi rips into America's growing income gap in 'The Divide'

    Matt Taibbi begins his sixth book, "The Divide: American Injustice in the Age of the Wealth Gap," with a simple formulation: "Poverty goes up; Crime goes down; Prison population doubles." It's a snapshot, a way to represent what Taibbi sees as the...
  • 'Glee' recap: 100th Episode, Part 1

    'Glee' recap: 100th Episode, Part 1
    "Glee" brought back a bunch of awesome old faces for the first part of its two-part special. The episode starts by pitting two of its most successful grads, Rachel and Mercedes, against each other. One is a future Broadway starlet; the other, a...
  • Out of the Blue: Chase away Chase, too many banks

    OK, so what's the story on the sudden surge of banks in our town? Big, hairy ones. The ones we bailed out after they caused the crash and who thanked us by collectively growing 30% bigger and gobbling up the weak. Four new banks have come to town...
  • Cate Blanchett: From awful to Oscar?

    Cate Blanchett: From awful to Oscar?
    It's not where you start, it's where you finish, a beloved song tells us. And that certainly applies to Cate Blanchett in "Blue Jasmine." She is the heavy favorite to win the best-actress Oscar next month. But the early going on the Woody Allen...
  • BOOKS

    BOOKS
    Carl Hiaasen: The title of Hiaasen’s new book says it all: “Dance of the Reptiles: Rampaging Tourists, Marauding Pythons, Larcenous Legislators, Crazed Celebrities, and Tar-Balled Beaches.” The collection of Hiaasen’s columns for...
  • Thursday's TV Highlights: 'The Big Bang Theory' on CBS

    Thursday's TV Highlights: 'The Big Bang Theory' on CBS
    Customized TV Listings are available here: www.latimes.com/tvtimes Click here to download TV listings for the week of Feb. 2 - 8, 2014 in PDF format This week's TV Movies     -------------------- SERIES The Big Bang Theory Penny and Leonard...