Highlights
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.
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.
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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NYC lawyers for trustee overseeing Madoff liquidation seek more than $14 million in legal fees
Associated Press WriterNEW YORK (AP) — A Manhattan law firm working with a court-appointed trustee to unravel Bernard Madoff's massive fraud has so far run up more than $14.6 million in legal fees, according to court papers filed Friday. The papers filed in federal...Tags: Punishment, Laws, Court Administration, Corporate Crime, Justice System
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Administration seeks to bolster SEC's authority
Associated PressWASHINGTON -- The Obama administration has sent Congress legislation designed to protect investors by bolstering the authority of the Securities and Exchange Commission. The proposal unveiled today is part of the sweeping plan for overhauling the U.S....Tags: Securities, Laws, U.S. Department of Treasury, Corporate Crime, Democratic Party
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Administration proposing changes to buttress SEC's authority, change rules for funds, advisers
AP Business WritersWASHINGTON (AP) — The Obama administration has sent Congress legislation designed to protect investors by bolstering the authority of the Securities and Exchange Commission. The proposal unveiled Friday is part of the sweeping plan for...Tags: Securities, Laws, U.S. Department of Treasury, Corporate Crime, Democratic Party
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Report: Hunt for Madoff assets has cost $46M so far
anthony.destefano@newsday.comWith years to go in their quest, officials Thursday said they have spent nearly $46 million so far in the worldwide hunt for assets from Bernard Madoff's Ponzi scheme. In a report released Thursday, special bankruptcy trustee Irving Picard said that...Tags: Manhattan (New York City), Punishment, Fraud, Corporate Crime, Bankruptcy
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Recovery costs top $45M in Madoff scheme
anthony.destefano@newsday.comThe worldwide hunt for assets of Bernard Madoff's Ponzi scheme has so far cost nearly $46 million in administrative expenses, according to a report released Thursday afternoon by a special trustee. In a report covering the period from Dec. 11, when...Tags: Manhattan (New York City), Punishment, Fraud, Corporate Crime
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Madoff declines to appeal
Bernard Madoff will not appeal his 150-year sentence for a fraud that unraveled in December when Madoff told his sons that nearly $65 billion he had promised investors was safe was actually only worth a few hundred million dollars. "We won't be appealing...Tags: Punishment, Fraud, Corporate Crime
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Some steps can help Ponzi-proof investments
The Dallas Morning NewsThe sentencing of swindler Bernard Madoff provides a reminder that investors can't be too careful with their money. Madoff joins a growing list of white-collar criminals. In such a fraud, a con artist promises high rates of return with little risk to...Tags: Regulatory Policy and Organizations, Credit Ratings, Fraud, Corporate Crime, Stock Broking
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Lawyer: Bernard Madoff will not appeal 150-year sentence
Associated Press WriterNEW YORK (AP) — Disgraced financier Bernard Madoff will not appeal his 150-year sentence for a fraud that unraveled last December when Madoff confessed to his sons that nearly $65 billion he promised investors was safe was actually only worth a...Tags: Punishment, Corporate Crime, Lawyers, Florida, Symptoms
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Madoff won't appeal 150-year sentence
Disgraced financier Bernard Madoff will not appeal his 150-year sentence for a fraud that unraveled overnight last December when Madoff confessed to his sons that nearly $65 billion he promised investors was safe was actually only worth a few hundred...Tags: Punishment
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For Rent: Bernard Madoff's old offices
Behind unmarked doors on the 17th floor of a red granite high-rise known as the Lipstick Building, FBI agents still labor to unravel a case like no other.
The agents -- already there for more than six months -- say the chore is so daunting, they need...Tags: Punishment, Securities, New York Stock Exchange, Stock Market, Corporate Crime
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Another Madoff victim? SEC exec steps down
THE LOS ANGLES TIMESThe Bernard Madoff scandal may have helped claim another head at the Securities and Exchange Commission. Lori Richards, the 49-year-old chief of the SEC division that inspects money managers, said Wednesday that she would resign. Richards, a 24-year...Tags: Securities, Government, Fraud, Corporate Crime, National Government
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Madoff won't appeal 150-year sentence in Ponzi scheme
The Associated PressDisgraced financier Bernard Madoff will not appeal his 150-year sentence for a fraud that unraveled last December when Madoff confessed to his sons that nearly $65 billion he promised investors was safe was actually only worth a few hundred million...Tags: Punishment, Fraud, Corporate Crime
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