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.
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 Nassau Community College campus in Uniondale is suddenly without any cafeteria, cafe or snack bar, leaving vending machines as the only option for 12,000 students.
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Give your grad the best of the best for downtime enjoying music, listening to podcasts, or watching movies and TV.
Would you spend $18.50 on an escargot bagel? New York City's viral baking sensations Dominique Ansel Bakery and Popup Bagels are teaming up to bring you one in SoHo.
A person self-immolated at a park across from the courthouse where former President Donald Trump's New York criminal trial is taking place.
Would you spend $18.50 on an escargot bagel? New York City's viral baking sensations Dominique Ansel Bakery and Popup Bagels are teaming up to bring you one in SoHo.
A man has been arrested and charged with murder after the fatal stabbing of a teen during a parking dispute in the Bronx.
Passover starts Monday at sundown, when families will retell the story of the Jewish people's exodus from slavery in Egypt.
The New York Mets revealed their long-awaited City Connect uniform after cryptic teases and rumored leaks on social media.
A Shih Tzu that was stolen from a Brooklyn woman's yard has been missing for more than a month. Now, police have released new video.
We'll see some sun and then showers later in the day, and it will be a touch milder with highs in the 50s.
Some lingering rain and light drizzle remains Thursday, and temperatures will be about 10 degrees cooler, feeling like the 40s.
Today will be at least 10 degrees cooler than yesterday, with a little rain developing in the afternoon.
We're in for another sunny and pleasantly warm afternoon, but not as warm as yesterday. Highs will be in the low 70s.
Today will be sunny with highs in the mid to upper 70s, possibly even 80 inland. Late showers are possible south of the city.
We'll see some sun and then showers later in the day, and it will be a touch milder with highs in the 50s.
One public library in New Jersey is offering free gently used wedding dresses for brides-to-be. The selection is getting bigger by the day, thanks to donations coming in.
The conservative Christian group has controlled Ocean Grove's beaches for more than 150 years.
Some lingering rain and light drizzle remains Thursday, and temperatures will be about 10 degrees cooler, feeling like the 40s.
A New Jersey father accused of killing his 9-year-old son back on March 28 has died from injuries he suffered that same day, officials said.
The Nassau Community College campus in Uniondale is suddenly without any cafeteria, cafe or snack bar, leaving vending machines as the only option for 12,000 students.
A young Long Island boy is the first in New York state to undergo a new gene therapy for a rare blood disease.
Over 250 pizzerias across Long Island are raising money Wednesday for three police charities and the family of fallen NYPD Det. Jonathan Diller.
Suspected Gilgo Beach serial killer Rex Heuermann is appeared in court in Suffolk County, Long Island.
More 55-gallon drums containing waste petroleum and chlorinated solvents have been found buried in Bethpage Community Park.
A person self-immolated at a park across from the courthouse where former President Donald Trump's New York criminal trial is taking place.
The final five alternate jurors in former President Donald Trump's New York criminal trial were selected on Friday.
Two U.S. officials tell CBS News an Israeli missile has hit Iran in apparent retaliation for the recent drone and missile attack on the Jewish state.
Rep. Ilhan Omar's daughter says she was one of three students suspended from Barnard College following a pro-Palestinian protest at Columbia University on Thursday.
Pro-Palestinian demonstrators have reoccupied Columbia University's main lawn for a third day of protests in Upper Manhattan.
Montefiore in the Bronx screened 200,000 people for social detriments of health, and found at least 20% have at least one social need.
Health officials are warning consumers not to consume Infinite Herbs basil sold at some Trader Joe's and Dierberg's stores after 12 people were sickened.
19 people have been stricken — including nine who have been hospitalized — after getting fake or mishandled injections in homes and spas, feds warn.
East Harlem community leaders say the state oversaturated the neighborhood with methadone and other drug treatment centers as most patients live elsewhere.
Younger adults are aging faster, increasing their risk for early onset cancers. So which anti-aging techniques actually work?
Anticipation was growing at a fever pitch before Taylor Swift's latest album, "The Tortured Poets Department," dropped at midnight EDT. But it turned out it's actually a double album.
The singers first dated in 2003 and delighted fans when they rekindled their relationship in 2023.
In the 1,000th episode, titled "A Thousand Yards," NCIS comes under attack by a mysterious enemy from the past.
A Billy Joel special on CBS and Paramount+ will air again after it was cut off in the middle of the singer's performance of "Piano Man."
The coming-of-age story is a favorite for generations of middle and high school students, and they're returning to it on Broadway.
The New York Mets revealed their long-awaited City Connect uniform after cryptic teases and rumored leaks on social media.
Simon Holmstrom scored the go-ahead goal in the third period, Ilya Sorokin stopped Sidney Crosby on a late penalty shot and the playoff-bound New York Islanders edged the Pittsburgh Penguins 5-4.
Aaron Judge broke a 4-all tie with a two-run single in the ninth inning, Juan Soto and Giancarlo Stanton hit solo home runs and the New York Yankees rallied to beat the Toronto Blue Jays 6-4 to avoid their first sweep of the season.
Starling Marte hit his 150th career homer, powering the New York Mets to a 9-1 win over the Pittsburgh Pirates and a sweep of a three-game series.
The No. 1 pick in this year's WNBA draft is "going to raise all boats" for players in the league, one expert said.
Residents in Southern Brooklyn are concerned over MTA's proposed changes as part of the Brooklyn Bus Network Redesign.
Buzunesh Deba, who lives in the Bronx, became the default winner of the 2014 Boston Marathon in 2016 when the first-place winner was disqualified for doping, but she says she has not yet received her prize money.
While many are excited about the idea of a state-of-the art skate park in Brooklyn, one of the largest on the East Coast, others oppose the location chosen.
East Harlem community leaders say the state oversaturated the neighborhood with methadone and other drug treatment centers as most patients live elsewhere.
President Joe Biden dropped in virtually to speak at the National Action Network convention Friday, breaking down his efforts to reduce the burden on Black people and boost opportunities for their success.
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.
A crane went up in flames high above Manhattan, then partially collapsed onto the street below.
A man set himself on fire in a park near the courthouse in Lower Manhattan where former Pres. Donald Trump's criminal trial is underway. CBS New York's Doug Williams and Alice Gainer report.
The NYPD said the man traveled from Florida and set himself on fire near the courthouse in Lower Manhattan where former Pres. Donald Trump's criminal trial is underway.
A man set himself on fire outside the NYC courthouse where former President Donald Trump is facing trial in his "hush money" case. It happened at roughly the same time a full jury was seated. CBS New York's Doug Williams and Alice Gainer report.
Pro-Palestinian demonstrators have reoccupied Columbia University's main lawn for a third day of protests in Upper Manhattan. CBS New York's Christina Fan has the latest.
Former President Donald Trump faces 34 felony charges of falsifying business records related to alleged payments to adult film star Stormy Daniels before the 2016 election. CBS New York's Doug Williams reports.