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 Yorktown, New York, community continues to grieve the loss of 18-year-old Sheridan Gorman.
The Montreal Canadiens beat the New York Islanders 7-3 on Saturday night.
Spring has finally arrived in New York City after one of the most brutal winters the city has experienced in recent years.
Charlotte FC beat the New York Red Bulls 6-1 on Saturday night.
A Long Island teenager accused of killing his ex-girlfriend in November allegedly plotted to burglarize the victim's home.
The Yorktown, New York, community continues to grieve the loss of 18-year-old Sheridan Gorman.
Spring has finally arrived in New York City after one of the most brutal winters the city has experienced in recent years.
A Long Island teenager accused of killing his ex-girlfriend in November allegedly plotted to burglarize the victim's home.
An upstate New York man admitted to leaving harassing and threatening voicemail messages to a family member of slain UnitedHealthcare CEO Brian Thompson.
A new performing arts venue with a focus on immigrant stories is opening in Upper Manhattan this fall. CBS News New York's Noëlle Lilley got an exclusive tour of the construction that will give The People's Theatre its first home in more than 15 years.
It may not feel like spring right away, but Friday's weather does deliver a clear shift in the air in New York City.
The New York City area will be under a wind advisory Monday with periods of heavy rain and severe thunderstorms expected across the region.
The New York area is in for a mild weekend before the weather takes a turn to start the work week.
It will be rainy on Thursday morning, and the weather will change to snow as temperatures drop across the Tri-State Area.
Thunderstorms are expected in New York, New Jersey and Connecticut this weekend after severe weather hit the Midwest.
A New Jersey teen attending yeshiva school in Israel is back home after a journey that took him through three countries, at times on foot.
Gov. Mikie Sherrill accused ICE of ignoring the concerns of Roxbury residents after it bought the vacant warehouse on Route 46.
It may not feel like spring right away, but Friday's weather does deliver a clear shift in the air in New York City.
Last year, electricity rates in New Jersey spiked more than almost any other state, according to a new congressional report.
Montclair School District Board of Education members broke down in tears as they voted to close Renaissance Middle School.
A Long Island teenager accused of killing his ex-girlfriend in November allegedly plotted to burglarize the victim's home.
What started as a sinus infection left a Long Island teenager fighting for his life, requiring emergency brain surgery.
Bodycam video footage of Justin Timberlake's June 2024 DWI arrest on Long Island was released to the media Friday.
It may not feel like spring right away, but Friday's weather does deliver a clear shift in the air in New York City.
A driver was indicted on manslaughter and assault charges Thursday in a deadly crash that killed two teenagers on Long Island back in January.
Robert Mueller served as FBI director from 2001 to 2013 and led the investigation into allegations of Russian meddling in the 2016 presidential election.
Wait times aren't expected to improve until government funding is restored and TSA officers receive paychecks.
The Trump administration has been strategizing methods and options to secure or extract Iran's nuclear materials, according to multiple sources, as the military campaign against Tehran enters a more uncertain phase.
New York and New Jersey lawmakers have announced a bipartisan, bi-state bill to address E-ZPass late fees.
Border czar Tom Homan is expected back on Capitol Hill later Friday for bipartisan talks.
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.
New Jersey Sen. Andy Kim is opening up about his father's Alzheimer's diagnosis in hopes of helping others struggling like him to care for their loved ones.
CBS News announced Friday that CBS News Radio will be shutting down this spring after nearly 100 years of broadcasting, citing "challenging economic realities."
Bodycam video footage of Justin Timberlake's June 2024 DWI arrest on Long Island was released to the media Friday.
Chuck Norris' family said his death at 86 was sudden, but did not share any details on the cause.
ABC has canceled its already filmed season of "The Bachelorette" starring Taylor Frankie Paul after video surfaced of a 2023 incident in which she was charged with assault.
Michael B. Jordan's best actor win at Sunday night's Academy Awards resonated at his alma mater, Arts High School in Newark.
The Montreal Canadiens beat the New York Islanders 7-3 on Saturday night.
Charlotte FC beat the New York Red Bulls 6-1 on Saturday night.
The New York Knicks outlasted the Brooklyn Nets 93-92 on Friday night for their fifth consecutive victory.
The Washington Capitals beat the New Jersey Devils 2-1 on Friday night.
Fifth-seeded St. John's beat Northern Iowa 79-53 on Friday night for its second NCAA Tournament victory since 2000.
A new performing arts venue with a focus on immigrant stories is opening in Upper Manhattan this fall. CBS News New York's Noëlle Lilley got an exclusive tour of the construction that will give The People's Theatre its first home in more than 15 years.
Members of the Apollo Theater, where Kiki Shepard left her mark for 15 years, reflect on her legacy after the Harlem icon's death at age 74.
The Rev. Al Sharpton is calling on New York City to help protect the Merchant's House Museum in Manhattan after a recent discovery revealed connections to the Underground Railroad.
A Harlem school is teaching students how to love, honor and care for their natural hair.
The NYC DEP has announced plans to clean Flushing Creek with chlorine, sparking outrage among some environmentalists.
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.
Friday night's win was big for St. John's, but come tournament time, that just means you've earned the right to do it all over again. CBS News New York's Otis Livingston reports.
CBS News New York's Vanessa Murdock has your weather forecast for March 21 at 11 p.m.
The Yorktown, New York, community continues to grieve the loss of 18-year-old Sheridan Gorman, who was shot and killed Thursday in Chicago, where she was attending college. Police are questioning a person of interest in the case as her hometown shows support for her family. CBS News New York's Adi Guajardo reports.
Robert Mueller, the special counsel who conducted the first major investigation into President Trump, has died at 81. His family did not share a cause of death. CBS News New York's Allen Devlin reports.
CBS News New York's Vanessa Murdock has your weather forecast for March 21 at 6 p.m.
