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.
Get ready for more winter weather in the Tri-State Area because we're tracking two chances for accumulating snow this weekend.
Ilya Sorokin made 35 saves for his NHL-leading fifth shutout of the season as the New York Islanders edged the Edmonton Oilers 1-0 on Thursday night.
Jimmy Butler had 32 points and eight rebounds, Stephen Curry warmed up in the second half to finish with 27 points and seven assists, and the Golden State Warriors beat the New York Knicks 126-113 on Thursday night.
There have been three gun-related incidents at New York City public schools this week alone. Now, both parents and school safety agents are raising concerns.
A data company is finding that some Airbnb hosts in New Jersey are charging a lot for the time period around upcoming World Cup matches.
Get ready for more winter weather in the Tri-State Area because we're tracking two chances for accumulating snow this weekend.
There have been three gun-related incidents at New York City public schools this week alone. Now, both parents and school safety agents are raising concerns.
A data company is finding that some Airbnb hosts in New Jersey are charging a lot for the time period around upcoming World Cup matches.
A New Jersey man was sentenced Thursday to 17 years in prison for a brutal attack involving a dog on a New York City pizzeria manager.
A New Rochelle animal shelter is asking for help identifying two people who are seen on video leaving a dog in a locked cage outside.
Get ready for more winter weather in the Tri-State Area because we're tracking two chances for accumulating snow this weekend.
Two men posing as Amazon delivery workers held a Connecticut homeowner at gunpoint while robbing him and his wife, police said.
Wednesday night, things begin to change. Showers linger, and areas well north and west may pick up some light snow.
Police in Danbury, Connecticut, are actively looking for a man who they believe fired a deadly gunshot that traveled through a wall and killed his neighbor.
There's plenty of sunshine is on the way to the Tri-State Area, but the First Alert Weather team is also tracking a round of snow later this week.
Get ready for more winter weather in the Tri-State Area because we're tracking two chances for accumulating snow this weekend.
A data company is finding that some Airbnb hosts in New Jersey are charging a lot for the time period around upcoming World Cup matches.
A pastor in Morristown, New Jersey, says community members are too afraid to go outside after recent ICE activity.
Jersey City Mayor Steven Fulop is reflecting on his public career as he moves to New York for his next job.
Priyatharsini Natarajan, 35, of Hillsborough, N.J. faces two first-degree murder charges in the death of her two boys, 5 and 7.
Get ready for more winter weather in the Tri-State Area because we're tracking two chances for accumulating snow this weekend.
A federal judge ruled the Empire Wind project can move forward while he considers the merits of the Trump administration's order to suspend it.
Hochul said she would commit $1.7 billion in the next budget to expand child care in New York in her 2026 state of the state address.
Wednesday night, things begin to change. Showers linger, and areas well north and west may pick up some light snow.
Three people were sentenced Tuesday for their roles in murdering and dismembering a man and a woman in Amityville in February 2024.
Hochul said she would commit $1.7 billion in the next budget to expand child care in New York in her 2026 state of the state address.
Venezuelan opposition leader María Machado previously said she wanted to "share" the prize for removing Nicolás Maduro from power.
A panel of judges on a federal appeals court ruled Thursday that a district court judge did not have the authority to order the release of Columbia University activist Mahmoud Khalil.
An Immigration and Customs Enforcement officer shot a man Wednesday night in north Minneapolis after allegedly being attacked by men with shovels during an arrest operation, three U.S. officials told CBS News.
Border czar Tom Homan said no decision had been made about the exact nature of the cuts, which are supposed to take effect in two weeks.
Nurses continue to hold the picket line as the largest nurses' strike in New York City history is on its third day with no end in sight.
Nurses say health care benefits and workplace safety are their main reasons for striking, and are refusing to go back to work until their demands are met.
Loved ones of patients at hospitals in New York City are concerned about care as nurses continue to strike due to failed contract negotiations on Monday.
The New York State Nurses Association said it called for the strike as negotiations stalled with the city's wealthiest hospitals.
The largest nurses strike ever in New York City is underway as thousands of NYSNA members walk off their jobs at major hospitals.
John Forté, the Grammy-nominated musician known for his work with the Fugees, was found dead in his home in Massachusetts.
The 2026 Golden Globes honored the standouts in both film and television from last year. See the full list of winners and nominees.
Here is everything you need to know about how to watch and stream the 2026 Golden Globes.
Bob Weir wrote or co-wrote and sang lead vocals on Grateful Dead classics including "Sugar Magnolia," "One More Saturday Night" and "Mexicali Blues."
Video of an angry confrontation during intermission at a performance of "Mamma Mia!" on Broadway is going viral on social media.
Ilya Sorokin made 35 saves for his NHL-leading fifth shutout of the season as the New York Islanders edged the Edmonton Oilers 1-0 on Thursday night.
Jimmy Butler had 32 points and eight rebounds, Stephen Curry warmed up in the second half to finish with 27 points and seven assists, and the Golden State Warriors beat the New York Knicks 126-113 on Thursday night.
Authorities said the alleged scheme involved 39 players, 17 different NCAA Division I men's basketball teams and 29 games.
Negotiations are ongoing, but John Harbaugh is expected to end up coaching the New York Giants.
The Kings (11-30) won their third straight to spoil the return of Knicks coach Mike Brown, who made his first appearance in Sacramento since being abruptly fired early in the 2024-25 season.
A group in Queens has banded together to revive landlines and give their children a simpler way to socialize.
A city-approved plan to rezone a stretch of Atlantic Avenue is expected to bring thousands of new apartments to Brooklyn, but tenant advocates say the deal falls short for lower-income residents and could accelerate displacement.
A three-year pilot run by the Brooklyn Justice Initiative and the Mayor's Office of Criminal Justice aims to improve court compliance and reduce recidivism by meeting participants where they live.
Harlem native Teyana Taylor wins her first major acting honor at the 83rd Golden Globes Awards for her performance in Paul Thomas Anderson's "One Battle After Another." Locals say it's a win for the whole neighborhood.
Legislation would protect and expand hunger programs and improve benefit security as New York pantries see rising demand.
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.
The New York City Health Department says more than half of the city's flu cases this season are in people under 18 years old.
Opposition leader María Corina Machado gave President Trump her Nobel Peace Prize while visiting the White House. CBS News' Jarred Hill reports.
Meanwhile, a rally is planned in New York City in response to the ICE shootings in Minnesota. CBS News New York's Elijah Westbrook reports.
John Elliott has the Tri-State Area's updated Friday morning First Alert Forecast on CBS News New York.
Police say the man is accused of punching a 37-year-old working on a subway in Far Rockaway, Queens.
