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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 89-99
  • 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...
  • 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...
  • 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...
  • Public sees Madoff's antiques, bulls, shoes at auction preview

    Public sees Madoff's antiques, bulls, shoes at auction preview
    Just before a Saturday auction, South Floridians got a glimpse into how the nation’s largest convicted Ponzi schemer, Bernard Madoff, was able to crack into high finance -- and society -- with his expensive tastes, smooth ways and dapper clothes....
  • Social Security sets off sparks

    Social Security sets off sparks
    If there was still any doubt that Social Security is the proverbial third rail of American politics — that is, potentially deadly to the touch — Gov. Rick Perry has provided the electrifying answer: You don't mess with the monthly checks,...
  • As season dawns, some fans hope for Angelos to sell the Orioles

    As season dawns, some fans hope for Angelos to sell the Orioles
    Scott Evans remembers the soft glow of the small television set, and the way his stepfather tried to calm him and his sister for the benefit of the neighbors in the apartment below. But who, on this night, was not celebrating? It was 1983 and the...
  • The Interview John Hauserman, Certified Financial Planner board ambassador

    The Interview John Hauserman, Certified Financial Planner board ambassador
    Financial advisers often have an alphabet of professional designations behind their names, but the dominant one remains "CFP," or certified financial planner. The CFP Board, which sets the national standards for financial planners, has announced in the...
  • We're turning America into a giant casino

    We're turning America into a giant casino
    Anyone who says you can get rich through gambling is a fool or a knave. Multiply the size of the prize by your chance of winning it and you'll always get a number far lower than what you put into the pot. The only sure winners are the organizers -- casino...