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 conceded late Tuesday that the city does not have the authority to arrest Israeli Prime Minister Benjamin Netanyahu.
The New York Mets blanked the Milwaukee Brewers 4-0 on Tuesday night.
Andrew Arrabaca, the U.S. Army veteran arrested after allegedly shooting off a pellet gun and setting a fire outside 26 Federal Plaza, was in court Tuesday afternoon.
Tuesday's storms flooded roads and brought down trees across New York City and its suburbs.
The death of a woman who visited a Bronx lifestyle center for a popular anti-aging injection is raising questions about the safety of treatments used to keep people beautiful.
Andrew Arrabaca, the U.S. Army veteran arrested after allegedly shooting off a pellet gun and setting a fire outside 26 Federal Plaza, was in court Tuesday afternoon.
Tuesday's storms flooded roads and brought down trees across New York City and its suburbs.
The death of a woman who visited a Bronx lifestyle center for a popular anti-aging injection is raising questions about the safety of treatments used to keep people beautiful.
Thirty-four cooling towers at 33 buildings on the Upper East Side tested positive for live Legionella bacteria, the New York City Health Department announced Tuesday.
Despite promises of action from Mayor Zohran Mamdani, the blocks-long homeless encampments on the West Side of Manhattan continue to stir controversy.
Severe weather impacted the entire region on Tuesday, with watches and warnings throughout the CBS News New York viewing area.
Stormy weather will return to the New York City area Tuesday after a brief reprieve.
Storms brought flooding rains, damaging winds, hail and lightning to New York and New Jersey on Saturday.
While the air quality is improving, haze still lingers as New Yorkers brace for upcoming rain and possibly severe storms Saturday.
A tornado warning was issued in parts of New Jersey on Thursday evening.
There were two confirmed tornadoes in northern New Jersey on Tuesday.
Severe weather impacted the entire region on Tuesday, with watches and warnings throughout the CBS News New York viewing area.
There have been major developments in the case of a social media influencer who was gunned down last summer on the Cross County Parkway in Westchester.
Two young children were killed during the crash in Barnegat Bay between Berkeley Township and Seaside Heights on Sunday night.
Madonna, Justin Bieber, BTS and Shakira each brought a bit of one of their hits to the World Cup's first halftime show in a whirlwind performance Sunday that also squeezed in Burna Boy, Ted Lasso and many Muppets.
An electrical transformer caught fire outside the Nassau County Court Building on Long Island on Tuesday.
There was a special celebration at Long Island Children's Hospital on Tuesday for two facility dogs who bring comfort to young patients. CBS News New York's John Dias reports.
Studies show older adults are among the safest drivers on the road, but crashes involving seniors are on the rise.
Severe weather impacted the entire region on Tuesday, with watches and warnings throughout the CBS News New York viewing area.
Matthew Smith, 21, pleaded guilty to driving drunk and crashing his pickup truck into Patricia Espinosa's car, killing her.
New York City Mayor Zohran Mamdani conceded late Tuesday that the city does not have the authority to arrest Israeli Prime Minister Benjamin Netanyahu.
Despite promises of action from Mayor Zohran Mamdani, the blocks-long homeless encampments on the West Side of Manhattan continue to stir controversy.
An attorney representing an Upper East Side woman whose husband just died from Legionnaires' disease is planning to take legal action.
New Jersey Gov. Mikie Sherrill said a preliminary analysis showed that fewer than 400 of the people registered that way went on to cast ballots.
New York City Mayor Zohran Mamdani is doubling down on his promise to arrest Israeli Prime Minister Benjamin Netanyahu when he arrives for the United Nations General Assembly in a few weeks.
Thirty-four cooling towers at 33 buildings on the Upper East Side tested positive for live Legionella bacteria, the New York City Health Department announced Tuesday.
An attorney representing an Upper East Side woman whose husband just died from Legionnaires' disease is planning to take legal action.
Studies show older adults are among the safest drivers on the road, but crashes involving seniors are on the rise.
For the third day in a row, the NYC Health Department has announced a death in the Upper East Side Legionnaires' disease cluster.
A second death has been reported in connection to the Legionnaires' disease cluster on the Upper East Side, health officials said Saturday.
Madonna, Justin Bieber, BTS and Shakira each brought a bit of one of their hits to the World Cup's first halftime show in a whirlwind performance Sunday that also squeezed in Burna Boy, Ted Lasso and many Muppets.
Brenda Fricker won an Academy Award for 1989's "My Left Foot," played the Pigeon Lady in "Home Alone 2" and appeared in "A Time to Kill" and "So I Married an Axe Murderer."
New Zealand actor Sam Neill, known for "Jurassic Park" and "The Piano," died Monday at 78, his family says.
The final show of Jay-Z's anniversary concert series at Yankee Stadium was delayed for hours after hundreds of ticketless fans flooded the gates and breached security, according to officials.
Jay-Z and some very special guests took over Yankee Stadium on Friday night, performing to a sold-out crowd.
The New York Mets blanked the Milwaukee Brewers 4-0 on Tuesday night.
Jazz Chisholm Jr. homered in consecutive at-bats against All-Star Braxton Ashcraft and drove in five runs, powering the Yankees to an 8-5 victory over the Pirates on Monday night.
Cooper Pratt hit his first major league homer to help spoil Freddy Peralta's return to Milwaukee as the Brewers defeated the Mets 8-3 on Monday night.
Five Yankees pitchers combined on a four-hitter as New York edged the Dodgers 2-1 to split their day-night doubleheader Sunday.
The New York Mets won a series in Philadelphia for the first time in nearly four years, beating the Phillies 6-1 on Sunday.
A specialized program from God's Love We Deliver is serving nearly 400 veterans with medically tailored meals, while helping combat isolation and ease the challenges of life after military service.
The Newtown Creek Alliance community science project gives students hands-on experience monitoring the health of one of the most polluted waterways in the U.S.
The FIFA World Cup is delivering a business boost for many bars and restaurants across New York City, but not every industry is seeing the same payoff.
Two Upper West Side children went on a mission to visit 40 playgrounds in one day, hoping to set a record.
Eddie Palmieri, the East Harlem legend who revolutionized Latin music, now has a street renamed in his honor.
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 July 21 at 11 p.m.
An electrical transformer caught fire outside the Nassau County Court Building on Long Island on Tuesday.
New York City health officials say there is now a fifth death in the Legionnaires' disease cluster on the Upper East Side.
New York City Mayor Zohran Mamdani is now saying his administration does not have the legal authority to arrest Israeli Prime Minister Benjamin Netanyahu.
The third U.S. service member killed during an Iranian attack in Jordan is from Ozone Park, Queens.
