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.
The federal government has agreed to restore the Pride flag that was removed from the Stonewall National Monument in Greenwich Village.
A North Carolina man was arrested in connection with a decades-old unsolved murder of a New Jersey woman on Friday night.
New York City Mayor Zohran Mamdani's administration unveiled a dramatic traffic redesign at Brooklyn's Grand Army Plaza.
Former New York City Mayor Eric Adams has become a citizen of Albania.
A cat was rescued when it was spotted lying on Long Island Rail Road tracks between Lindenhurst and Babylon Sunday night.
The federal government has agreed to restore the Pride flag that was removed from the Stonewall National Monument in Greenwich Village.
Former New York City Mayor Eric Adams has become a citizen of Albania.
Parts of the New York area could see record high temperatures during a summerlike stretch of weather this week.
Mayor Zohran Mamdani said La Marqueta in East Harlem, a site owned by New York City, will be developed into the city's first city-run grocery store.
Zohran Mamdani, New York City's first social influencer mayor, has reached 100 days in office, and he's been busy.
Parts of the New York area could see record high temperatures during a summerlike stretch of weather this week.
A major warmup, featuring summer-like temperatures in the 80s, will take over the Eastern Seaboard beginning Monday.
New York City and the Tri-State Area are finally turning the corner to warmer weather this week.
When UConn plays Michigan for the NCAA Men's Basketball championship tonight in Indianapolis, there are a few places in New York City where fans can root on their schools.
The average price for a gallon of gas in New York City is now $4.11, which is 82 cents higher than a month ago, according to AAA.
A North Carolina man was arrested in connection with a decades-old unsolved murder of a New Jersey woman on Friday night.
One person is dead and another is in critical condition after a shooting inside the Excelcare rehabilitation facility in Egg Harbor Township Monday morning.
Parts of the New York area could see record high temperatures during a summerlike stretch of weather this week.
A tractor-trailer driver is hospitalized after crashing into a two-story building in Clifton, New Jersey early Monday morning.
Yeison Cortes Vasquez was back at his church in Elizabeth, New Jersey, on Sunday, one day after being released from U.S. Immigration and Customs Enforcement custody.
A cat was rescued when it was spotted lying on Long Island Rail Road tracks between Lindenhurst and Babylon Sunday night.
Parts of the New York area could see record high temperatures during a summerlike stretch of weather this week.
A major warmup, featuring summer-like temperatures in the 80s, will take over the Eastern Seaboard beginning Monday.
The brutal winter took out much of Southold Town Beach's sand and parking lot, forcing it to close for swimming this summer.
It's been one year since Peishuan Fan and JuanJuan Zwang, a wealthy Long Island couple, vanished without a trace.
The federal government has agreed to restore the Pride flag that was removed from the Stonewall National Monument in Greenwich Village.
Yeison Cortes Vasquez was back at his church in Elizabeth, New Jersey, on Sunday, one day after being released from U.S. Immigration and Customs Enforcement custody.
Mayor Zohran Mamdani said La Marqueta in East Harlem, a site owned by New York City, will be developed into the city's first city-run grocery store.
Zohran Mamdani, New York City's first social influencer mayor, has reached 100 days in office, and he's been busy.
A former staffer of Rep. Eric Swalwell said he allegedly forced himself on her after they met for drinks in New York in 2024.
Advocates fear New York state could be taking a step back when it comes to biomarker testing access for those with Medicaid.
What started as a sinus infection left a Long Island teenager fighting for his life, requiring emergency brain surgery.
Older adults in New Jersey recorded the highest number of suspected overdose deaths in 2025, according to the New Jersey Department of Health.
The first case of mpox clade I has been detected in New York City, health officials said Friday. Of the two types of mpox, clade I is known to cause more severe disease and death.
Heights University Hospital, formerly known as Christ Hospital, shuttered its emergency room Saturday night.
Afrika Bambaataa, a rapper and producer, was best known for breakthrough tracks like 1982's "Planet Rock" and for founding the Universal Zulu Nation art collective.
A federal judge in New York has tossed out actor Blake Lively's sexual harassment claims against actor Justin Baldoni over their roles in the movie "It Ends With Us," but left intact a claim for retaliation.
Atlanta rapper Gucci Mane was lured to a Dallas studio for a meeting, then allegedly kidnapped and robbed by a group including rappers Pooh Shiesty and Big30.
Megan Thee Stallion was released from a New York City hospital after she got sick during a performance of "Moulin Rouge! The Musical."
The price hike raises the cost of the standard plan with ads by $1 per month and the cost of the standard and premium plans by $2.
Nico Hischier scored his second goal of the game on the power play with 1:45 left in overtime to give the New Jersey Devils a 4-3 win over the Ottawa Senators on Sunday night.
Nick Suzuki had a goal and an assist and the Canadiens beat the Islanders 4-1 on Sunday, eliminating New York from playoff contention.
With Sunday's 110-96 loss to the Hornets, the Knicks finished the regular season 53-29 and with the No. 3 seed in the Eastern Conference playoffs.
The Raptors clinched their first playoff berth in four seasons by beating the Nets 136-101 on Sunday in the regular-season finale for both teams.
Rory McIlroy of Northern Ireland won the 2026 Masters Tournament at Georgia's Augusta National, claiming his second straight green jacket.
New York City business owners are pushing on the State Legislature to pass Gov. Kathy Hochul's reforms that would roll back some of the climate legislation passed by New York state in 2019.
Ismael Ox lost his right hand as a child in a grenade attack, survived homelessness in the U.S., and became a citizen, all while training to represent Team USA in para Taekwondo.
These kids from Brooklyn are playing tennis in their school hallways, cafeterias and auditoriums, to make the most of limited space and resources.
Preparations for Passover in Brooklyn blend centuries-old rituals with modern traditions unique to each family.
New York has filed a lawsuit against solar company Attyx, saying it didn't just sell panels, it sold promises it couldn't keep.
People dressed in elaborate headgear and paraded up Fifth Avenue for New York City's Easter Sunday tradition.
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.
The annual Easter Parade and Easter Bonnet Festival was held in Manhattan on April 20, 2025.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
"Titanique" officially opened its Broadway run at the St. James Theatre Sunday. The show is a campy re-imagining of the 1997 movie.
Parts of the New York area could see record high temperatures during a summerlike stretch of weather this week. CBS News New York Meteorologist Tony Sadiku has the forecast.
President Trump says there's a U.S. blockade of Iran's ports, including a partial blockade of the Strait of Hormuz. CBS News New York's Alice Gainer reports.
The New York University "Buddy Program" pairs adults in early stages of dementia with students. CBS News' Jarred Hill reports.
Two people were arrested after police said they found them inside the abandoned buildings with a crowbar, handgun and camera.
