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Justice Department Distributes $568 Million To Bernie Madoff Ponzi Scheme Victims
Thirty-one thousand people lost money in Madoff's financial fraud, one of the biggest in history.
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Thirty-one thousand people lost money in Madoff's financial fraud, one of the biggest in history.
Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes.
Attorney Brandon Sample told Judge Denny Chin that Madoff, 81, and confined to a wheelchair, should be allowed to contest claims by prosecutors that he has failed to show remorse.
Madoff's lawyers want him freed under a program that permits the release of some inmates who have less than 18 months to live.
He was sentenced to 150 years in prison for using his investment firm to cheat clients out of billions of dollars.
The Department of Justice confirmed Madoff filed paperwork asking the president, who has final say on clemency, to commute his term.
Attorney Roland Riopelle says 70-year-old Annette Bongiorno will have served two thirds of her six-year prison term by March 19 and should be released then.
The money represents approximately 75% of the estimated $17.5 billion in principal lost by customers who filed claims.
Victims of the Bernard Madoff Ponzi scheme will split a repayment of about $342 million in January under a plan by a court trustee.
A judge sentenced the last defendant in the Bernard Madoff Ponzi scheme case on Wednesday to six months in prison.
A judge spared Paul Konigsberg prison time and agreed not to require post-sentence supervision.
A former accountant who certified fake financial records hiding Bernard Madoff's epic Ponzi scheme was sentenced on Thursday to one year of home confinement.
Annette Bongiorno she apologized to victims of the multi-decade, multi-billion dollar fraud and berated herself for failing to see past her boss's influence and the riches he bestowed on her.
The trustee recovering money for thousands of investors said Monday that a half-billion-dollar settlement has been reached with two financial funds that invested with Ponzi schemer Bernard Madoff.
In an interview with "60 Minutes" in 2011, Madoff insisted he had no idea what his father was up to.
A senior partner at a New York accounting firm has now pleaded guilty to his role in the multi-billion dollar Bernard Madoff Ponzi scheme.
Yeshiva University is reportedly $1 billion in the red, with $500 million in debts and another $500 million in losses with risky investments.
The verdicts came Monday in a Manhattan trial that lasted nearly six months. The federal court trial was the first to result from the multi-decade fraud that landed Madoff in prison for 150 years.
The jury has the monumental task of sorting through five months of testimony to determine whether the ex-Madoff employees knew that their jobs involved perpetuating a massive Ponzi scheme.
The prosecution wraps up closing statements in the trial against five former aides to Ponzi schemer Bernard Madoff. Madoff's former secretary, his former head of operations, an account manager and two computer programmers are on trial.
Convicted swindler Bernie Madoff's secretary took the stand nearly five years after her former boss went to prison.
The fund will distribute assets forfeited in the Madoff case. It's separate from a bankruptcy court proceeding that has recovered money to redistribute to burned Madoff clients.
Madoff was sentenced to 150 years in prison after pleading guilty in 2009 for bilking investors of $65 billion. He ran his operation out of an office in the Lipstick Building in Midtown Manhattan.
The bank will pay $1.7 billion to settle criminal charges and a $350 million civil penalty for what the Treasury Department called "critical and widespread deficiencies'' in its programs to prevent money laundering and other suspicious activity.
New York financier Bernard Madoff's former right-hand man summed up his boss' arrest exactly five years ago with two words: "Madoff Implodes.''
Masataka Yoshida hit a tiebreaking two-run single off Clay Holmes in a three-run eighth inning, and the Boston Red Sox overcame Aaron Judge's 470-foot home run to beat the reeling New York Yankees 9-7.
The New York Mets moved past the Braves for the top NL wild card berth, beating Atlanta 8-4 on Friday night behind J.D. Martinez's grand slam in a seven-run third inning but losing Kodai Senga to another injury in his season debut.
In a statement provided to CBS New York, Justin Timberlake's attorney claimed police made "a number of very significant errors in this case" and "we are confident that this charge will be dismissed."
At least a dozen cases of listeria have been reported across New York state in connection to a national outbreak linked to deli meat.
From footballs to fairways and pickoffs to putts – a Jets superstar recently revealed the surprising way he's coping with the mental side of pro-football.
In a statement provided to CBS New York, Justin Timberlake's attorney claimed police made "a number of very significant errors in this case" and "we are confident that this charge will be dismissed."
At least a dozen cases of listeria have been reported across New York state in connection to a national outbreak linked to deli meat.
A specialized New York City Police Department K-9 team is in Paris for the Summer Olympics to help with security.
The Harlem-based program the Doe Fund held a graduation ceremony this week for nearly 100 men who have overcome a variety of challenges through the "Ready, Willing and Able" program.
The median price of a single-family home in Westchester County, New York has topped $1 million for the first time.
The 2024 Paris Olympics are underway, featuring dozens of athletes from New York, New Jersey and Connecticut. See the full list of competitors from the Tri-State Area.
The NYC area will continue to see humid and cloudy weather today, before our Pick of the Week arrives tomorrow.
Another day means another round of showers for the New York City area, but there's hope around the corner.
NYC's unsettled weather continues today, with rain showers in the forecast through Thursday.
Lawmakers in New York, New Jersey and Connecticut are flocking to Vice President Kamala Harris' side.
A fire burned through a strip mall overnight in Fair Lawn, New Jersey, and severely damaged businesses.
The 2024 Paris Olympics are underway, featuring dozens of athletes from New York, New Jersey and Connecticut. See the full list of competitors from the Tri-State Area.
A 20-year-old suspect is in custody after he allegedly shot a Perth Amboy police detective in Rahway, New Jersey.
The NYC area will continue to see humid and cloudy weather today, before our Pick of the Week arrives tomorrow.
A police detective was shot Wednesday night while serving a warrant in Rahway, New Jersey.
In a statement provided to CBS New York, Justin Timberlake's attorney claimed police made "a number of very significant errors in this case" and "we are confident that this charge will be dismissed."
At least a dozen cases of listeria have been reported across New York state in connection to a national outbreak linked to deli meat.
Legendary Billy Joel played his 150th and final concert at famed Madison Square Garden on Thursday night.
Jacqueline Franchetti has been trying to get "Kyra's Law" passed for eight years, but keeps running into Albany roadblocks.
The Jets will hold their first training camp workouts on Wednesday in Florham Park, New Jersey.
Republican presidential nominee Donald Trump met with Israeli Prime Minister Benjamin Netanyahu at his Mar-a-Lago resort in Florida.
The former president called Harris a "happy warrior" and vowed to do all he can to help her defeat former President Donald Trump in November.
Local leaders applaud this week's DOT announcement about safety upgrades coming to Cobble Hill, Brooklyn.
The president and vice president pressured Israel's Benjamin Netanyahu to reach a cease-fire deal for Gaza, but the truce talks may have suffered a new blow.
President Biden said it's been the privilege of his life to serve the country for over 50 years.
At least a dozen cases of listeria have been reported across New York state in connection to a national outbreak linked to deli meat.
Amid a widening listeria outbreak, Boar's Head is recalling all of its liverwurst products sold nationwide, as well as some deli meats.
New Yorkers in communities without easy access to supermarkets must decide what's more valuable? Time or money.
State records show the fund is facing a projected shortfall of $3 billion, and that shortfall is impacting the children.
At least seven people in New York have been sickened in a listeria outbreak linked to deli meats.
In a statement provided to CBS New York, Justin Timberlake's attorney claimed police made "a number of very significant errors in this case" and "we are confident that this charge will be dismissed."
Legendary Billy Joel played his 150th and final concert at famed Madison Square Garden on Thursday night.
Hundreds of the nation's top athletes will represent Team USA in Paris at the 2024 Olympics.
Billy Joel performs the last concert of his MSG residency Thursday in NYC. See how to get tickets, and how much they're going to cost you.
An album of dark songs recorded in a bedroom at his rented farmhouse in 1982, reflecting the upheaval in his life in-between "The River" and "Born in the U.S.A.," helped solidify Springsteen's status as one of music's most soulful voices.
Masataka Yoshida hit a tiebreaking two-run single off Clay Holmes in a three-run eighth inning, and the Boston Red Sox overcame Aaron Judge's 470-foot home run to beat the reeling New York Yankees 9-7.
The New York Mets moved past the Braves for the top NL wild card berth, beating Atlanta 8-4 on Friday night behind J.D. Martinez's grand slam in a seven-run third inning but losing Kodai Senga to another injury in his season debut.
From footballs to fairways and pickoffs to putts – a Jets superstar recently revealed the surprising way he's coping with the mental side of pro-football.
A specialized New York City Police Department K-9 team is in Paris for the Summer Olympics to help with security.
The 2024 Paris Olympics are underway, featuring dozens of athletes from New York, New Jersey and Connecticut. See the full list of competitors from the Tri-State Area.
The Harlem-based program the Doe Fund held a graduation ceremony this week for nearly 100 men who have overcome a variety of challenges through the "Ready, Willing and Able" program.
Elected local, state and federal leaders looked at the health of the Harlem River and its surrounding communities Friday as Congressman Adriano Espaillat hosted his third annual boat tour.
A Bronx food pantry says it's serving more people than ever before, but it's in dire need of basic equipment to run the operation.
Local leaders applaud this week's DOT announcement about safety upgrades coming to Cobble Hill, Brooklyn.
The bus is the talk of a South Ozone Park neighborhood after the MTA's public hearing on Wednesday.
Tens of thousands of people flooded Manhattan streets on June 2, 2024 for the 60th annual Israel Day on Fifth Parade.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
As much of the northeast experiences heavy rains, parts of New York City are beginning to flood.
Thousands of people flooded Union Square on Friday for a PlayStation giveaway promoted by livestreamer Kai Cenat.
CBS New York's Lonnie Quinn has your First Alert Forecast for July 26 at 11 p.m.
Boar's Head is recalling some of its liverwurst and deli meats. At least one of the products may be connected to a nationwide listeria outbreak that's killed two people and sickened nearly three dozen people, including in New York and New Jersey. CBS New York's Alecia Reid reports.
Subway riders are voicing their thoughts after New York City began testing a controversial weapons detection system at a station in Lower Manhattan Friday. The goal is to help keep people safe, but not everyone is convinced it will work. CBS New York's Derick Waller reports.
Mayor Eric Adams announced the first phase of a weapons detection system program at a Lower Manhattan subway station Friday. CBS New York's Derick Waller reports.
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