Former Madoff Deputy Testifies On 5th Anniversary Of Ponzi Schemer's Arrest
New York financier Bernard Madoff's former right-hand man summed up his boss' arrest exactly five years ago with two words: "Madoff Implodes.''
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New York financier Bernard Madoff's former right-hand man summed up his boss' arrest exactly five years ago with two words: "Madoff Implodes.''
Frank DiPascali described the tangled web of deceit woven by Madoff as he juggled investors' money and tried to keep investigators away.
Enrica Cotellessa-Pitz, who worked for Madoff for three decades, is testifying against five former colleagues in exchange for leniency.
Manhattan U.S. Attorney Preet Bharara said Monday that more than 10,000 people whose indirect investments with Bernard Madoff prevented them from eligibility for billions of dollars will get to make claims against a $2.35 billion fund.
The trial against five of Bernard Madoff's former employees continued Wednesday with testimony from consultants who investigated the firm following Madoff's arrest.
FBI Agent Theodore Cacioppi said he interviewed Bernard Madoff for about an hour before arresting him. The office was then placed under surveillance so evidence could be removed.
The trial follows the 2008 collapse of Madoff's private investment business, which cost clients nearly $20 billion. A court-appointed trustee has recovered much of the money by forcing those customers who received big payouts from Madoff to return the funds.
Prosecutor Matthew Schwartz introduced the government's case Wednesday, saying the defendants "helped perpetuate Madoff's elaborate fiction.'' The Manhattan federal court trial is expected to last five months.
Paul Konigsberg was charged with conspiracy to falsify records, conspiracy to commit fraud, falsifying records of a broker-dealer, falsifying record of an investment adviser and falsifying statements.
The government says that over the course of Madoff's multi-decade, multibillion-dollar fraud, a number of his employees and customers were dating or having affairs.
The home that belonged to Bernie Madoff's brother, Peter, is on the market after being seized by the U.S. Marshals Service.
The appeals court said the Securities and Exchange Commission's actions and "regrettable inaction'' are shielded by rules protecting government employees from lawsuits when they carry out a discretionary function or duty.
"What's next -- an Enron left-field pole?" Carton said. "Tyco right-field pole? Could you be stupider?"
The prison-bound brother of convicted Ponzi scheme operator Bernie Madoff attended his granddaughter's bat mitzvah in a space described as "posh" this weekend, after a judge delayed his lockup date for the occasion.
One month before beginning his 10-year presence sentence, Peter Madoff – the brother of convicted Ponzi scheme operator Bernie Madoff – has sold his posh Park Avenue home, according to a published report.
According to the New York Post, owners Fred Wilpon and Saul Katz have refinanced $450 million in loans that were borrowed against SportsNet New York, the cable network which airs the vast majority of Mets game throughout the season.
Peter Madoff maintained that he never knew his brother was orchestrating the largest Ponzi scheme in history, but victims speaking out in court Thursday – and even the judge herself -- don't believe him.
When Mets fans across the Tri-State Area awoke to the news that third baseman David Wright agreed a seven-year, $122 million extension, it must have felt like Christmas morning had come weeks early.
The son of Bernie Madoff's accountant committed suicide earlier this week in Ohio, according to published reports.
There's no mistaking Mets general manager Sandy Alderson's priority: signing "core players" David Wright and R.A. Dickey to contract extensions -- pronto.
The Mets have no money, but do they have no future?
If the Rocket really wants to come back, he should probably put in a call to Sandy Alderson. The Mets have nothing to lose at this point, including their franchise reputation.
It will finally be payback for clients of Ezra Merkin, a high-powered money manager who invested in Madoff's multi-million dollar Ponzi scheme.
Hundreds of Bronx residents say they're the victims of a multi-million dollar Ponzi scheme run by the man they trusted to prepare their taxes.
This Father's Day, CBSNewYork is taking a look at some of the worst fathers the Tri-State area has seen in recent years, from movie stars to murderers.
Iranian-Americans marched in New York City on Sunday to celebrate the death of Ayatollah Ali Khamenei and 40 of his top officials.
Mikal Bridges had 25 points and Jalen Brunson scored 24 to power the Knicks over the Spurs, snapping their 11-game winning streak Sunday.
CBS News has learned that the casualties occurred among American personnel based in Kuwait.
The man who killed two and wounded 14 also had photos of Iranian leaders in his home, a source said.
The U.S. military says three troops have been killed in the war with Iran, as President Trump says the operation is proceeding "ahead of schedule." Follow live updates.
Iranian-Americans marched in New York City on Sunday to celebrate the death of Ayatollah Ali Khamenei and 40 of his top officials.
Brian Anthony Moreland is a Tony Award-nominated producer who has worked on numerous hit shows and joins a short list of Black producers working on Broadway.
With the fate of Iran uncertain after Saturday's strikes by the United States and Israel, the shockwaves are being felt in the Tri-State Area.
Protests sparked up in New York City and across the country Saturday in response to the military strikes in Iran.
Local leaders across New York are reacting to the U.S. and Israel's major military operation in Iran.
The Tri-State Area's weekend is looking like a tale of two seasons with both snow and sunshine.
Another round of snow is impacting the Tri-State Area Wednesday, just after a major blizzard dumped more than 2 feet of snow in some parts of New York and New Jersey.
Pet owners should be extra cautious with their pets during and after the major winter snowstorm impacting the New York and New Jersey area.
Double-digit snow totals have been reported across New York, New Jersey and Connecticut as a major blizzard begins to wind down.
The storm has started to wrap up in New York City, New Jersey and beyond, with impressive snow totals left in its wake.
With the fate of Iran uncertain after Saturday's strikes by the United States and Israel, the shockwaves are being felt in the Tri-State Area.
Several hundred protesters in Roxbury, N.J., took to the street Saturday expressing outrage over plans to build an ICE facility in their town.
The Tri-State Area's weekend is looking like a tale of two seasons with both snow and sunshine.
Neighbors of a home displaying hateful symbols in Woodland Park, New Jersey, say they have complained to police, but authorities said while it's disgraceful, it's still protected speech.
John Shippen was a child of former slaves who found his way onto a golf course and made history there.
A driver who allegedly struck and critically injured a Nassau County Police crossing guard on Long Island appeared in court Friday.
Four people were injured in a crash on the Long Island Expressway Friday morning.
A Long Island man accused of burning down four homes in the Pocono Mountains was arrested in New York City with a truck full of nitrous oxide.
Nassau County DA Anne Donnelly said Wen-Lone Chou stockpiled parts and tested the guns he built in a makeshift shooting range in his Mineola basement.
A Long Island crossing guard is in critical condition after being hit while shoveling snow in Merrick, sources said.
Iranian-Americans marched in New York City on Sunday to celebrate the death of Ayatollah Ali Khamenei and 40 of his top officials.
CBS News has learned that the casualties occurred among American personnel based in Kuwait.
President Trump posted on social media that Iranian Supreme Leader Ayatollah Ali Khamenei had been killed after a massive U.S. and Israeli military operation Saturday.
Local leaders across New York are reacting to the U.S. and Israel's major military operation in Iran.
Americans weighed in on how long a conflict with Iran might last and what Congress should do.
For the first time in 30 years, the Food and Drug Administration has approved a new treatment for an inoperable type of pancreatic cancer.
NYSNA has reached a tentative contract agreement with NewYork-Presbyterian, signaling a potential end to the longest nurses strike in New York City history.
NYSNA ratified contracts with Montefiore and Mount Sinai, clearing the way for nurses to return to work Saturday after walking off one month ago.
The longest and largest nurses strike in New York City history is set to end after over three weeks as NYSNA says it has a tentative agreement.
Mount Sinai Health System and Anthem Blue Cross Blue Shield failed to reach a contract agreement by Dec. 31, which means about 9,000 physicians are no longer considered in-network.
Brian Anthony Moreland is a Tony Award-nominated producer who has worked on numerous hit shows and joins a short list of Black producers working on Broadway.
Pokémon fans across New York City waited in live for special events marking the franchise's 30th anniversary.
Singer-songwriter Neil Sedaka, known for his hits like "Laughter in the Rain," "Breaking Up is Hard to Do" and "Calendar Girl," has died.
Streaming giant Netflix declined to match Paramount Skydance's $31 per share offer for Warner Bros. Discovery.
Harvey Weinstein has hired Luigi Mangione's and Sean "Diddy" Combs' lawyers to represent him at his third New York rape trial.
Mikal Bridges had 25 points and Jalen Brunson scored 24 to power the Knicks over the Spurs, snapping their 11-game winning streak Sunday.
The New York Islanders beat the Columbus Blue Jackets 4-3 on Saturday night for their fourth straight win.
The New Jersey Devils beat the St. Louis Blues 3-1 on Saturday to end a five-game losing streak.
Julian Hall scored to lead the New York Red Bulls in a 1-0 victory over the New England Revolution on Saturday.
The New York Rangers rallied to defeat the Pittsburgh Penguins 3-2 on Saturday.
The National Dance Institute in Harlem hosts a special camp twice a year to bring together dancers with and without special needs for a dance camp, proving anyone can take center stage.
Could New York City's harsh winter weather end up curbing the number of rats? Here's why experts are saying don't count on it.
A Jewish congregation in Brooklyn is fighting to save their historic house of worship.
Harlem's Lafayette Theatre is believed to be the first major New York City theater to desegregate, just a year after its opening.
Multiple rezonings in Queens are paving the way for tens of thousands of new units, but some residents worry about how it could affect their communities.
The Halloween tradition strolled through Manhattan's East Village on Sunday, with furry friends dressed in colorful costumes.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dogs got decked out for the annual Tompkins Square Halloween Dog Parade in New York City's East Village on Saturday.
Cosplayers flooded New York City's Javits Center in October 2024 for the annual New York Comic Con convention.
CBS News New York's Vanessa Murdock is tracking some wintry weather for Tuesday, but the rest of the week should be much warmer.
It's a nearly 30-year tradition where thousands pack the streets. CBS News New York's Kristie Keleshian was there Sunday for the celebration of the rare Year of the Fire Horse.
If a new contract isn't reached, 9,000 Mount Sinai physicians will no longer be considered in-network. CBS News New York's Allen Devlin reports.
The suspect has been identified as Ndiaga Diagne, a naturalized American citizen born in Senegal. CBS News New York's Allen Devlin reports.
CBS News New York's Christine Sloan spoke with several of the demonstrators on Sunday.
