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 Los Angeles teen who got accepted to an astonishing 65 colleges is headed to Columbia University with a dream to pay it forward.
Jacob Misiorowski reached 103 mph on 10 pitches while pitching two-hit ball over six innings in the Brewers' 6-0 victory over the Yankees on Friday.
Jalen Brunson scored 33 points and sealed the game with big buckets late, leading New York to a win over the Philadelphia 76ers.
A woman has been charged with theft for taking a dog outside a Clifton, New Jersey, home in April, police say.
An unsettled pattern will continue through this entire Mother's Day weekend in the New York City area.
A Los Angeles teen who got accepted to an astonishing 65 colleges is headed to Columbia University with a dream to pay it forward.
An unsettled pattern will continue through this entire Mother's Day weekend in the New York City area.
A new proposal on Long Island could change how quickly a business has to hand over surveillance video to police during an investigation.
A northern Westchester County reservoir may soon be home to a floating solar panel array. The proposal is raising interest, and concern, in Peekskill.
"The Pitt" star Isa Briones is bringing heightened pride and Filipino presence to both stage and screen.
An unsettled pattern will continue through this 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.
A cool weekend is ahead for the New York City area before warmer weather returns.
Some residual showers may linger into early Sunday morning, but the majority of the rainfall should be over by sunrise.
Amtrak announced Thursday it is suing Metro-North for allegedly blocking nonrevenue trains on a portion of the busy Northeast Corridor for over two months.
A woman has been charged with theft for taking a dog outside a Clifton, New Jersey, home in April, police say.
An unsettled pattern will continue through this entire Mother's Day weekend in the New York City area.
The owners of Boulevard Drinks in Jersey City's Journal Square said new building owners gave them until May 27 to get out.
A New Jersey neighborhood is under a shelter-in-place order as police investigate at a home in Bridgewater Township.
Two New Jersey residents were potentially exposed to a person infected with hantavirus, according to health officials.
A new proposal on Long Island could change how quickly a business has to hand over surveillance video to police during an investigation.
The MTA and five of its unions are embroiled in a contract dispute that could trigger the LIRR's first work stoppage in more than 30 years.
New York Gov. Kathy Hochul announced a $268 billion budget that includes a pied-à-terre tax targeting wealthy New York City second home owners.
Brookhaven town residents are anxious and worried about the underwater toxic plume created by the landfill.
It's a mixed bag for Gov. Kathy Hochul in the latest poll.
A new proposal on Long Island could change how quickly a business has to hand over surveillance video to police during an investigation.
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
New York City's Rent Guidelines Board held a preliminary vote Thursday proposing a potential increase for 1 million rent-stabilized apartments across the five boroughs.
Former New York City Mayor Eric Adams is weighing in on the ongoing war of words between Mayor Zohran Mamdani and billionaire Ken Griffin.
New York Gov. Kathy Hochul announced a $268 billion budget that includes a pied-à-terre tax targeting wealthy New York City second home owners.
Two New Jersey residents were potentially exposed to a person infected with hantavirus, according to health officials.
Three passengers have been evacuated from a cruise ship hit by a hantavirus outbreak, as related cases are confirmed in Switzerland and South Africa.
The FDA announced its first authorization of fruit-flavored electronic cigarettes intended for adult smokers, a major policy shift after months of appeals to President Trump from the vaping industry.
There's been a confirmed measles case in Manhattan, health officials said Tuesday.
Keyport residents say they're on edge because of dozens of cancer cases over the years in a neighborhood near the former Aeromarine landfill.
"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.
Firefighters responded to Broadway's Eugene O'Neill Theater Monday morning after a blaze broke out.
Jacob Misiorowski reached 103 mph on 10 pitches while pitching two-hit ball over six innings in the Brewers' 6-0 victory over the Yankees on Friday.
Jalen Brunson scored 33 points and sealed the game with big buckets late, leading New York to a win over the Philadelphia 76ers.
Joel Embiid will return to the lineup for Game 3 of the Eastern Conference semifinals vs. the New York Knicks Friday in Philadelphia.
Jake McCarthy hit a grand slam and matched a career-high with five RBIs as the Rockies snapped a six-game losing streak with a 6-2 over the Mets on Thursday.
Trent Grisham hit a go-ahead, three-run double in a six-run sixth inning, and the Yankees beat the Rangers 9-2 Thursday for their 16th win in 19 games.
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.
The Davis Center at the Harlem Meer is celebrating one year of providing year-round recreation space to New Yorkers while still spreading the word to residents.
Residents displaced by a deadly apartment building fire in Inwood say it was only a matter of time before their building went up in flames.
In New York City, where land is at a premium, a stockpile of pristine soil unearthed at construction sites helps lower emissions and support urban farmers.
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 Lonnie Quinn has your First Alert Forecast for May 8 at 11 p.m.
A Los Angeles teenager who went from experiencing homelessness to class valedictorian is heading to Columbia University this fall. It was his pick out of the 65 colleges where he was accepted. CBS News New York's Andrew Ramos reports.
Excited Knicks fans packed Madison Square Garden on Friday night for a Game 3 watch party.
Two New Jersey residents are being monitored after potentially being exposed to hantavirus. CBS News New York's Dick Brennan reports.
A 76-year-old was shoved down a flight of subway stairs and killed late Thursday, and police say the suspect had been released from a psychiatric evaluation just hours earlier. CBS News New York's Naomi Ruchim reports.
