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.
New York City Mayor Zohran Mamdani and New York Attorney General Letitia James both announced their support of Gov. Kathy Hochul's reelection bid Thursday.
Parts of New York and Connecticut could see snow Friday into Saturday. A First Alert Weather Day is in effect for the weekend due to dangerously cold temperatures.
President Trump said he is directing all federal law enforcement to be at the "complete disposal" of Savannah Guthrie's family as the search continues for her mother, Nancy Guthrie.
Images circulating online that show New York City Mayor Zohran Mamdani as a child with millionaire financier and sex offender Jeffrey Epstein are generated by artificial intelligence.
Bishop Ronald Hicks from Illinois will become the newest archbishop, marked by two key events. His vespers ceremony will be on Thursday, and he will be installed at a service on Friday.
New York City Mayor Zohran Mamdani and New York Attorney General Letitia James both announced their support of Gov. Kathy Hochul's reelection bid Thursday.
Parts of New York and Connecticut could see snow Friday into Saturday. A First Alert Weather Day is in effect for the weekend due to dangerously cold temperatures.
Images circulating online that show New York City Mayor Zohran Mamdani as a child with millionaire financier and sex offender Jeffrey Epstein are generated by artificial intelligence.
Bishop Ronald Hicks from Illinois will become the newest archbishop, marked by two key events. His vespers ceremony will be on Thursday, and he will be installed at a service on Friday.
Jewish parents at a Brooklyn school are raising concerns about alleged bias after the school's principal decided not to invite a Holocaust survivor to speak to students.
Parts of New York and Connecticut could see snow Friday into Saturday. A First Alert Weather Day is in effect for the weekend due to dangerously cold temperatures.
Bundle up — New York City and the Tri-State Area's stretch of dangerously cold weather continues, and it's sticking around longer than anyone would like.
New York, New Jersey and Connecticut were pivotal during America's birth. This year, as the nation celebrates its 250th birthday, CBS News New York is highlighting the hidden history in our own back yard.
Forecasters are watching for a chance of snow this weekend in New York and New Jersey as harsh winter weather conditions continue.
The First Alert Weather Team is tracking a storm that could bring snow to the New York and New Jersey area. Frigid temperatures will last throughout the week.
Parts of New York and Connecticut could see snow Friday into Saturday. A First Alert Weather Day is in effect for the weekend due to dangerously cold temperatures.
A mom in Plainfield, New Jersey, is pleading for the return of her 19-year-old son, Connor Oldfield, who has autism.
The mayor of Jersey City speaking out against ICE action in his city.
The states of New York and New Jersey are suing the Trump administration in a high-stakes showdown over the future of rail travel in the Tri-State Area.
New Jersey has a few programs that can help residents set up payment plans as they deal with skyrocketing utilities bills.
Parts of New York and Connecticut could see snow Friday into Saturday. A First Alert Weather Day is in effect for the weekend due to dangerously cold temperatures.
More than 300 kilos of cocaine were seized in Nassau County in one of the largest drug busts ever on Long Island, officials said Tuesday.
Nassau County Police Officer Patricia Espinosa was killed Saturday in a car crash on Long Island.
The offshore wind project aimed at powering 600,000 New York homes can resume construction off Long Island, a federal judge ruled.
Authorities say online threats like sextortion are exploding, with predators increasingly pushing violence.
New York City Mayor Zohran Mamdani and New York Attorney General Letitia James both announced their support of Gov. Kathy Hochul's reelection bid Thursday.
President Trump said he is directing all federal law enforcement to be at the "complete disposal" of Savannah Guthrie's family as the search continues for her mother, Nancy Guthrie.
Images circulating online that show New York City Mayor Zohran Mamdani as a child with millionaire financier and sex offender Jeffrey Epstein are generated by artificial intelligence.
President Trump is awarding the Medal of Honor to a pilot whose faceoff with Soviet fighter jets remained secret for a half-century and a soldier who died in Afghanistan while shielding somebody from a suicide bomber.
A federal judge has temporarily blocked the end of TPS for Haitian immigrants. Some in NYC say it's a small win, but the fear continues.
In New Jersey, nearly half a million people lost enhanced Affordable Care Act tax credits this year, but the impact goes far beyond those who got the credits.
Starting July 1, as many as 450,000 New Yorkers will lose EP coverage and be forced into marketplace health care plans.
Striking New York City nurses returned to the bargaining table Thursday, the New York State Nurses Association said.
Mayor Zohran Mamdani and Vermont Sen. Bernie Sanders joined striking New York City nurses on the picket line Tuesday.
New York City's largest nurses strike is now in Week 2 and it appears negotiations toward a deal remain at a standstill.
Two-for-one tickets are returning for New York City's Off-Broadway Week.
The sheriff says the note was sent to a local Arizona news station, which agreed not to report on it, following the disappearance of "Today" show co-host Savannah Guthrie's mother, Nancy Guthrie.
Chuck Negron, a founding member of Three Dog Night whose lead vocals powered a string of hits for one of the top rock acts of the late 1960s and early '70s has died. He was 83.
Popular singer-songwriter Noah Kahan will be bringing his tour to New York City this summer. "The Great Divide" tour will stop at Citi Field on July 18.
Bad Bunny used his Grammy acceptance speech on Sunday to denounce U.S. Immigration and Customs Enforcement and call for the end of the ongoing immigration crackdown.
The Knicks outlasted the Nuggets 134-127 in two overtimes Wednesday night for their eighth straight victory.
Dozens of middle school girls celebrated National Girls and Women in Sports Day at the Brooklyn Basketball Training Center on Wednesday.
The Rangers traded star winger Artemi Panarin to the Kings on Wednesday, just minutes before the NHL Olympic roster freeze.
Frank Reich and Aaron Glenn are teammates again with the New York Jets, looking to turn around the fortunes of a frustrated franchise.
American athletes are preparing for the 2026 Milano Cortina Winter Olympics. These are some of the top Team USA competitors to watch.
Dozens of middle school girls celebrated National Girls and Women in Sports Day at the Brooklyn Basketball Training Center on Wednesday.
A group of senior dancers aged 70 and up shine on stage at the Korean Community Services' center in Queens. They practice in Flushing twice a week and perform at events citywide.
A flooded manhole has turned a loading dock into an ice rink in Queens.
Jamaica Colosseum Mall is set to close for good on Jan. 31.
A volunteer effort launched during the winter storm paired younger residents with elderly homeowners, offering snow removal assistance while creating new community ties across generations.
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.
Bishop Ronald Hicks held a news conference on Thursday morning where he detailed what the vespers ceremony and installation Mass will entail.
Father Thomas Massaro, professor of moral theology at Fordham University, talks about the new role Bishop Ronald Hicks will be in, his background and how he was selected.
The fast-growing game of Pickleball is being offered at seven schools across the city, with plans to expand more.
Ryan Routh was found guilty of five felony charges including attempted assassination of a major presidential candidate. He was sentenced to life in prison.
Hundreds of ICE officers preparing to leave Minneapolis. This comes as more than 300 former federal prosecutors are urging the Justice Department to allow state investigations into shootings involving ICE.
