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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

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  • 'Blue Jasmine': Woody Allen on regrets - He's had a few

    'Blue Jasmine': Woody Allen on regrets - He's had a few
    NEW YORK — Does Woody Allen have regrets? His new film, "Blue Jasmine," amplifies the air of concentrated self-examination that has long been a hallmark of his work. Though marked by buoyant moments of wry humor, the film is devastating in its...
  • Cate Blanchett luce en 'Blue Jasmine', nueve filme de Woody Allen

    Cate Blanchett luce en 'Blue Jasmine', nueve filme de Woody Allen
     Es tan grande el revés en la fortuna de la protagonista de la última película de Woody Allen, “Blue Jasmine”, que las posesiones de la integrante de la alta sociedad de Manhattan se reducen al mínimo: una chaqueta de Chanel, maletas de diseño...
  • Extortion at funerals? That's low, even for low-life scammers

     
    With this being National Consumer Protection Week, I'm receiving all sorts of tips about the latest scams and how to avoid them. This list from the Bucks County Crimes Against Older Adults Task Force includes one that's new to me......
  • State warns of recent Central and South Florida investment fraud

    State warns of recent Central and South Florida investment fraud
    Bernard Madoff became a household name after he was arrested for his multi-billion-dollar Ponzi scheme. But plenty of other scam artists soon replaced the imprisoned Madoff. "People need to be on guard," said Franklin Widmann, director of securities...
  • Madoff's court-approved victims to get first payment within days

    Madoff's court-approved victims to get first payment within days
    The delayed first checks to South Florida investors with court-allowed claims to Bernard Madoff's assets were mailed out Wednesday and should be in mail boxes within the next few days. The checks were supposed to be sent out Sept. 30 but court-...
  • Ruth Madoff leaves Boca to live in Conn. house

    Ruth Madoff leaves Boca to live in Conn. house
    Ruth Madoff is now back up north after living with her sister in Boca Raton in the aftermath of her husband Bernard going to prison for his $65 billion Ponzi scheme. Her New York attorney, Peter Chavkin, referred Friday to a written statement Ruth Madoff...
  • Madoff name still draws the big bucks

    The U.S. Marshals Service has now been able to collect $25 million from assets seized from convicted Ponzi schemer Bernard Madoff with a Miami Beach auction netting about $500,000 over the weekend, including $1,350 for 25 pairs of Madoff’s...
  • Madoff's wife living in Boca condo with her sister

    Madoff's wife living in Boca condo with her sister
    Ruth Madoff is living in Boca Raton with her older sister and brother-in-law, Joan and Robert Roman, who let her stay with them despite being fleeced by her husband, convicted Ponzi schemer Bernard Madoff, according to media reports and public records....
  • PBS's Frontline rebroadcasts expose of Ponzi schemer Bernard Madoff| Video

    PBS's Frontline rebroadcasts expose of Ponzi schemer Bernard Madoff| <font color="#990000"><b>Video</b> </font>
    With the $500,000 Bernard Madoff auction still fresh in the minds of South Floridians, PBS' Frontline is rebroadcasting its expose of how the Ponzi schemer made off with $65 billion. The hour-long show will air 9 p.m. Tuesday, focusing on Madoff's...
  • Five tips on how to avoid an investment scam

    Five tips on how to avoid an investment scam
    South Florida is one of the nation's prime spots for investment fraud, with wealthy college-educated men -- aged 55 to 65 -- especially preyed upon, according to the nation's largest private industry watchdog group that oversees brokerages. John Gannon,...
  • First payout from Madoff trustee to go out in Sept.; average is $222,551

    First payout from Madoff trustee to go out in Sept.; average is $222,551
    By the end of September, South Florida investors with approved claims to convicted Ponzi schemer Bernard Madoff's assets will receive the first check from worldwide efforts to reclaim the con man's ill-gotten money. The ripped-off Madoff investors...