
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.''
The storms are capable of producing downpours, damaging winds, hail and even an isolated tornado.
He says his office is also grappling with subway crime and numerous other threats to public safety.
Investigators say a 16-year-old student posted a message on Instagram saying, "Bellport mass shooting (tomorrow)?"
The theme in Rockland County and Westchester County was remembering the "why" behind the holiday weekend.
The city says the initiative is meant to lower the more than 2,000 New Yorkers who die from overdoses every year.
Nearly 20 officers were in a hallway for more than 45 minutes before agents used a master key to open a door and confront the gunman, authorities said.
Up to 300,000 spectators expected on Saturday and Sunday for a spectacle unlike any other.
Fleet Week is coming back to New York City in a big way this week.
You may have heard of cystic fibrosis, but many people don't understand what it really is.
He says his office is also grappling with subway crime and numerous other threats to public safety.
The theme in Rockland County and Westchester County was remembering the "why" behind the holiday weekend.
The city says the initiative is meant to lower the more than 2,000 New Yorkers who die from overdoses every year.
Up to 300,000 spectators expected on Saturday and Sunday for a spectacle unlike any other.
Just in time for the busy summer season, the Alliance for Coney Island is excited to have a new welcome sign celebration Coney Island's past, and its present.
From early reports, Sandy Hook Promise says the Uvalde shooter appeared to exhibit many of the warning signs.
Memorial Day Weekend is almost here, and despite COVID-19 concerns, millions of people are expected to travel. But, it's not going to be cheap.
The attitude between the political parties is often one of mutual contempt. So how do they pivot to compromise?
Another elementary school tragedy is bringing back raw and painful emotions for families in Connecticut.
The maximum rebate is $250 for up to three children.
Last year, shore towns were struggling to find seasonal employees and that impacted some of their bottom lines because they had to shorten their days.
The finding flies in the face of dozens of people who claim they got tumors after attending the school.
Actor Ray Liotta has died. He was 67.
Some shared their outrage and disgust that after so many school shootings, no meaningful changes have been made.
His publicist says Liotta died in his sleep in the Dominican Republic.
Up to 300,000 spectators expected on Saturday and Sunday for a spectacle unlike any other.
Investigators say a 16-year-old student posted a message on Instagram saying, "Bellport mass shooting (tomorrow)?"
Margarito Banos went to the hospital with what he thought was an upset stomach. Instead, doctors found a rare, cancerous liver tumor.
Some beaches and pools in the Tri-State Area may have to scale back hours if they can't get enough seasonal workers.
The U.S. Navy Blue Angels will arrive on Long Island today, along with a Navy F22 Raptor will also arrive at Macarthur Airport.
The ruling came a day after a New York appeals court ruled Trump must answer questions under oath in New York Attorney General Letitia James' investigation.
Members of the ring reportedly resold the stolen goods on eBay, prompting the mayor to lash out, again, at social media.
The attorney general says her investigation has uncovered evidence Trump's company, the Trump Organization, used "fraudulent or misleading" valuations of assets.
A Department of Investigation report uncovered at least 15 homeowners violating the primary residence requirement
Adams marked the anniversary by meeting with members of Floyd's family to outline steps he has taken to fix the NYPD.
You may have heard of cystic fibrosis, but many people don't understand what it really is.
Nineteen people have been diagnosed with Legionnaires' disease in the Highbridge neighborhood since May 3, officials said.
The treatment model is part of the city's plan to address the growing crisis and expand resources to all New Yorkers.
The company says it'll give U.S. regulators the data soon. Moderna is already seeking U.S. clearance to vaccinate kids 5 and under.
The case has been identified as positive for Orthopoxvirus, which is the family of viruses monkeypox belongs to.
Actor Ray Liotta has died. He was 67.
His publicist says Liotta died in his sleep in the Dominican Republic.
Bruce Springsteen has announced that he and the E Street Band will start an international tour next year.
She earned two nominations for the play "for colored girls who have considered suicide/when the rainbow is enuf."
The former "Grey's Anatomy" star earned a Tony nod for his Broadway debut in the revival of the play "Take Me Out."
The move was made in response to recent mass shootings in Uvalde, Texas, and Buffalo.
Vincent Trocheck buried a short-handed goal, Teuvo Teravainen scored on the power-play in Carolina's 3-1 win Thursday.
The 27-year-old left-hander lowered his ERA to 1.70, retiring 14 in a row during one stretch in New York's 7-2 victory.
Donaldson called the White Sox infielder "Jackie," referring to Jackie Robinson, drawing criticism on and off the field.
JP Sears pitched five innings to win his first career start and the no-name relievers did the rest in a 2-0 win Wednesday.
"Most of my customers are regulars. They come almost every day, and they feel that this is their home," Panagiotis Binioris said.
For hard-to-find flavors from faraway continents, professional chefs and home cooks flock to a specialty food store founded in 1944.
Multiple generations are working side-by-side to pursue a dream they didn't know they had.
"When you can say you've kept a customer, a loyal customer, for 60, 70, 80 years, through the generations, then you know that you've had a successful business," co-owner Lou Di Palo told CBS2's Elle McLogan.
"I walk in here every day, and I feel the legacy of my family," fourth-generation owner Alice Goldberg told CBS2's Elle McLogan.
Actor Ray Liotta has died. He was 67.
Ten people were killed and three were injured in a mass shooting at a Buffalo supermarket on May 14, 2022.
This year's theme is Gilded Glamour, and the stars are dripping in opulence.
The Mets unveiled the long-awaited Tom Seaver statue before their sold-out home opener at Citi Field on April 15, 2022.
Nearly two dozen people were injured in a shooting and smoke bomb attack aboard a Brooklyn subway Tuesday.
The mentoring program is only part of what Apex for Youth has to offer, CBS2's Jenna DeAngelis reports.
Bragg says his office is also grappling with subway crime and numerous other threats to public safety, CBS2's Jessica Moore reports.
Investigators said 32-year-old Michael Tsamas was hired by Verizon to solicit new customers.
The Parks Department is urging beachgoers to be safe and only swim when lifeguards are on duty.
Doug Heir's return to competition goes far deeper than just sports, CBS2's Steve Overmyer reports.