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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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  • 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...
  • 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...
  • Bernard Madoff Speaks From Jail

    Bernard Madoff Speaks From Jail
    Bernard Madoff—convicted in the biggest “Ponzi Scheme” in history—is trying to rehabilitate his image from federal prison in North Carolina. In a series of phone calls to reporter Steve Fishman, of New York magazine, Madoff said...
  • LI Businessman Pleads Guilty In $413M Ponzi Scheme

    LI Businessman Pleads Guilty In $413M Ponzi Scheme
    A New York businessman nicknamed a "mini-Madoff" because he was arrested only weeks after the billion-dollar swindler, pleaded guilty Friday to charges he orchestrated a $413 million Ponzi scheme that victimized thousands of investors. Nicholas Cosmo,...
  • Two Women Arrested In Connection With Madoff Case

    Two Women Arrested In Connection With Madoff Case
    Two longtime back office employees of disgraced Bernard Madoff have been arrested on charges that they helped the disgraced financier dupe investors for decades by making fictitious investments. The pair, identified as Joann Crupi and Annette Bongiorno,...
  • Summer reading: Fiction, poetry

    Busy Monsters William Giraldi W.W. Norton: $24.95 When a mediocre writer's bride-to-be leaves him to search for a legendary giant squid, he treks across the continent seeking counsel from nefarious creatures on how to win back her affections. (August)...
  • Hedge Fund Manager Eyeballing Minority Stake In Mets

    Hedge fund manager David Einhorn is playing ball with the New York Mets and on the verge of buying a minority stake in the cash-strapped Major League Baseball team for $200 million. Einhorn, the manager of Greenlight Capital, is in exclusive talks with...
  • 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....