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.
A New York man accused of helping to lead a multi-state check fraud scheme has pleaded guilty, according to a court record filed Thursday in the U.S. District Court for the Eastern District of Michigan.
The NYPD said Elvin Suarez struck four pedestrians after his 2019 Mercedes-Benz GLC 300 SUV veered over a concrete island near West 109th St. and Amsterdam Ave.
No injuries have been reported because of the issue, the Food and Drug Administration said.
Izz al-Din al-Haddad was killed in a "precise strike in the area on the City of Gaza," the Israel Defense Forces said Saturday.
The work stoppage, the LIRR's first since 1994, went into effect after the MTA and five unions representing 3,500 workers failed to reach a deal on a new four-year contract.
The NYPD said Elvin Suarez struck four pedestrians after his 2019 Mercedes-Benz GLC 300 SUV veered over a concrete island near West 109th St. and Amsterdam Ave.
The work stoppage, the LIRR's first since 1994, went into effect after the MTA and five unions representing 3,500 workers failed to reach a deal on a new four-year contract.
A controversial plan would build one of nation's largest battery energy storage sites near homes on Staten Island. The state says the sites are critical to New York's push for cleaner energy, but how and where they're built remains a flashpoint.
Ahead of the 2026 RBC Brooklyn Half Marathon, some athletes are showing how simply reaching the starting line is a victory.
The NYPD said the crash happened at 6 p.m. Friday on Amsterdam Ave. near 109th St. on Manhattan's Upper West Side.
The weekend is set to be the warmest of the year so far with summer-like weather across the Tri-State Area.
Keep an umbrella nearby as there's a chance for showers across the New York and New Jersey area. But the weather will turn to sunshine and warm temperatures for the weekend.
The weather on Wednesday will be a mix of sunshine and clouds with the potential for a shower in New York City. In the evening, rain becomes more widespread.
An unsettled pattern continues through the entire Mother's Day weekend in the New York City area.
After summer-like warmth, rainy weather and cooler temperatures return to the New York City area mid-week.
With just weeks to go before the primary, voters in New Jersey's 7th Congressional District are wondering where their congressman is.
Macy's Fourth of July Fireworks will take place on both the lower East River near the Seaport and the lower Hudson River, in collaboration with Jersey City.
It was down to the wire for one lucky New Jersey lottery winner. A winning $5.9 million Pick-6 lottery ticket was just eight days away from expiring.
The weekend is set to be the warmest of the year so far with summer-like weather across the Tri-State Area.
For the first time ever, the World Cup final will host a Super Bowl-style halftime show, with megawatt headliners Madonna, Shakira and BTS.
The work stoppage, the LIRR's first since 1994, went into effect after the MTA and five unions representing 3,500 workers failed to reach a deal on a new four-year contract.
Glen Cove's hidden gem has been closed for nearly two decades, but it's finally reopening thanks to hard work from the community.
Riders have been rerouted to Grand Central Terminal, which is much more crowded than usual since the electrical fire at Penn Station.
A coalition of five unions representing LIRR workers say they are prepared to walk off the job just after midnight tonight if there's no deal.
The MTA released a contingency plan with shuttles and drop-off destinations during the LIRR strike.
The work stoppage, the LIRR's first since 1994, went into effect after the MTA and five unions representing 3,500 workers failed to reach a deal on a new four-year contract.
With just weeks to go before the primary, voters in New Jersey's 7th Congressional District are wondering where their congressman is.
New York Gov. Kathy Hochul proposed millions to keep the program open, but the reforms would cut reimbursement rates for private duty nurses.
Israeli Prime Minister Benjamin Netanyahu's government plans to file a defamation lawsuit against The New York Times.
President Trump is in Beijing meeting with China's President Xi Jinping, with the two leaders aiming to stabilize their trading relationship after last year's trade war.
New York Gov. Kathy Hochul proposed millions to keep the program open, but the reforms would cut reimbursement rates for private duty nurses.
A New York native is among 16 American passengers who are quarantining in Nebraska after being on the cruise ship that is at the center of the deadly hantavirus outbreak.
American passengers on the MV Hondius cruise ship, which was hit with a deadly outbreak of the hantavirus, are back in the U.S. Three of the at least 10 people confirmed infected in the outbreak have died.
Three New Yorkers are among the 18 people being quarantined in Nebraska and Atlanta due to hantavirus concerns.
An American on the repatriation flight began showing symptoms of hantavirus and another "tested mildly PCR positive for the Andes virus," the Department of Health and Human Services says.
The well-known film critic and journalist Rex Reed has died at 87.
"The Pitt" star Isa Briones is bringing heightened pride and Filipino presence to both stage and screen.
Broadway's "The Book of Mormon" has canceled two weeks of performances following a fire at the Eugene O'Neill Theatre.
Uzo Aduba and Darren Criss announced the 2026 Tony nominees for select categories on "CBS Mornings" on Tuesday.
Rihanna, Sabrina Carpenter, Madonna, and Beyoncé all wore their best looks to celebrate the "Costume Art" theme at the 2026 Met Gala. Here are some of the best moments, photos, and more from the night.
Cam Schlittler overpowered the New York Mets in his Subway Series debut.
Ahead of the 2026 RBC Brooklyn Half Marathon, some athletes are showing how simply reaching the starting line is a victory.
A.J. Ewing's first Major League home run sparked a comeback as the New York Mets completed a three-game sweep of the Detroit Tigers on Thursday.
Carson Benge delivered his first big league walk-off hit, a 10th-inning single, lifting the Mets past the Tigers 3-2 on Wednesday night.
Nicolás Fernández scored a goal in the eighth minute, Matt Freese had his fourth shutout this season, and New York City FC beat Charlotte FC 1-0 on Wednesday night.
Ahead of the 2026 RBC Brooklyn Half Marathon, some athletes are showing how simply reaching the starting line is a victory.
The Second Avenue Subway project has entered phase two of extending the "Q" line, but Harlem businesses say they're struggling to co-exist with the construction.
City Council members say requirement for transparent roll-down gates is burdensome for small businesses ahead of the July 1 enforcement deadline.
For more than four decades, residents living beside Brooklyn's District 13 Sanitation Garage in Coney Island have been waiting for the facility to move away from their homes.
There's a swim club in Harlem teaching kids a lifesaving skill, and they're turning timid swimmers into competitors.
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.
CBS News New York's John Dias has the latest on the strike, the LIRR's first since 1994, and Kristie Keleshian looks at alternative ways to get around during the work stoppage.
CBS News New York's John Elliott is calling for sunny skies and a high near 80 on Saturday, and it will be even warmer on Sunday.
Many gathered outside Penn Station on Saturday morning as the railroad begins its first strike in 32 years. CBS News New York's John Dias leads team coverage.
The MTA and the unions failed to come to an agreement on the fourth year of a new contract late Friday, leading to the railroad's first work stoppage since 1994. CBS News New York's John Dias reports.
Lonnie Quinn has the Tri-State Area's updated nightly forecast on CBS News New York.
