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.
Dozens of young girls unexpectedly emerged from a drain in the patio of a Rockland County restaurant Wednesday after taking an unauthorized trek underground.
The St. Louis Cardinals beat the New York Mets 9-2 on Wednesday to match a season high with their sixth straight victory.
Taylor Swift attended Game 4 of the NBA Finals between the Knicks and Spurs at Madison Square Garden on Wednesday.
An 88-year-old man was sentenced to life in prison Wednesday for murdering and dismembering a woman in Brooklyn in 2022.
Hundreds of free World Cup tickets will be given to working families with kids, first responders and military families in the New York City area.
Dozens of young girls unexpectedly emerged from a drain in the patio of a Rockland County restaurant Wednesday after taking an unauthorized trek underground.
Taylor Swift attended Game 4 of the NBA Finals between the Knicks and Spurs at Madison Square Garden on Wednesday.
An 88-year-old man was sentenced to life in prison Wednesday for murdering and dismembering a woman in Brooklyn in 2022.
Hundreds of free World Cup tickets will be given to working families with kids, first responders and military families in the New York City area.
A Long Island woman says her efforts to avoid check washing didn't keep her from being robbed, calling the experience "upsetting and disheartening."
Thursday and Friday will be First Alert Weather Days in the New York City area, with high temperatures and the chance for strong storms.
The Stamford Fire Department said high winds ripped the 3,000-square-foot flag off the pole atop the WWE building and sent it flying into electrical wires.
Storms hit the New York City area on Saturday, bringing damaging winds, hail and downpours across the region.
It's unseasonably warm in New York City on Wednesday as humidity adds to the summer-like weather. There's also a slight chance for showers in parts of the Tri-State Area.
It's back to feeling like spring, and even summer on some days, as warm weather and sunshine return to the New York area.
MetLife Stadium, which hosts its first match of the World Cup this Saturday, has undergone a transformation.
Several people were struck by a vehicle in Jersey City Wednesday morning. It happened at around 8:50 a.m. at Wilkinson and Ocean Avenues.
Thursday and Friday will be First Alert Weather Days in the New York City area, with high temperatures and the chance for strong storms.
NJ Transit riders were hit with more delays and cancellations during the Tuesday evening rush, raising questions about whether the system is ready to handle the thousands expected to attend the matches.
The 2026 FIFA World Cup is front and center in New York and New Jersey, where there are plenty of free watch parties and events happening.
A Long Island woman says her efforts to avoid check washing didn't keep her from being robbed, calling the experience "upsetting and disheartening."
The 2026 FIFA World Cup is front and center in New York and New Jersey, where there are plenty of free watch parties and events happening.
Workers in Nassau County are calling for Juneteenth to be an official public holiday, just like it already is in the rest of the state.
Prosecutors on Long Island announced a crackdown on what they're calling serial shoplifting.
An 18-year-old pleaded guilty Thursday to murder and weapons charges in connection to a deadly shooting at a Long Island house party in 2025.
The bench trial of former New York City Comptroller Brad Lander over his arrest at the city's immigration court last fall got underway on Wednesday in Manhattan.
Calls to ban horse carriages in New York City are growing after a horse collapsed and died in Central Park Tuesday.
Workers in Nassau County are calling for Juneteenth to be an official public holiday, just like it already is in the rest of the state.
Tom Homan, President Trump's border czar, is increasing his attacks on Gov. Kathy Hochul, threatening, yet again, to surge more ICE agents into New York.
NYC Mayor Zohran Mamdani is not on the ballot in the upcoming primaries, but he could be the deciding factor in whether two sitting congressmen are defeated.
For half a century, The Valerie Fund has been dedicated to providing care to children with cancer and blood disorders.
A New Jersey nonprofit called The Valerie Fund is celebrating 50 years of providing comprehensive care to children with cancer and blood disorders.
New Jersey Gov. Mikie Sherrill is urging people to donate blood ahead of the summer months.
There's no vaccine for the Bourbon virus, nor medicine to treat it, according to the U.S. Centers for Disease Control and Prevention.
Marie Francillion was diagnosed with lung cancer after she was feeling heartburn and shoulder pain. She said she's able to remain hopeful and spend more time with her family because of a different type of treatment.
Taylor Swift attended Game 4 of the NBA Finals between the Knicks and Spurs at Madison Square Garden on Wednesday.
"Schmigadoon!" — which was tied for the most nominations, with 12 — won Best Musical, and "Liberation" took home the honor of Best Play at the 2026 Tony Awards.
The Broadway revival of the musical (nominated for 11 Tony Awards) depicts drama, joy and heartbreak in the pursuit of the American Dream at the turn of the 20th century, with parallels to the contemporary world, from issues of race to the immigrant experience.
Madonna performed a surprise concert in Times Square weeks before the release of her "Confessions II" album.
Knicks superfan Spike Lee stopped by CBS Mornings to give his thoughts as the Knicks get set to play in the NBA Finals, and he offered his prediction, too.
The St. Louis Cardinals beat the New York Mets 9-2 on Wednesday to match a season high with their sixth straight victory.
Hundreds of free World Cup tickets will be given to working families with kids, first responders and military families in the New York City area.
Jazz Chisholm Jr. drove in three runs, Carlos Rodón pitched six solid innings, and the Yankees completed a three-game sweep of the Guardians with an 8-4 win on Wednesday.
MetLife Stadium, which hosts its first match of the World Cup this Saturday, has undergone a transformation.
Knicks fans who hoped to go to an NBA Finals Game 4 watch party outside of Madison Square Garden on Wednesday had to make alternate plans.
Harlem's historic Cotton Club recently announced it was up for sale. The news comes as jazz clubs across the borough disappear.
Jasir Gipson was shot by a stray bullet at 5 years old while walking with his mother. More than a decade later, he's graduating from high school with nothing but a smile.
Garbage piling up near freight train tracks is frustrating many Maspeth residents.
Residents and elected officials are urging the MTA to reopen the Long Island Rail Road's former Elmhurst station, arguing that the neighborhood has outgrown its current transit options.
Before there was a Brooklyn, there was a flagpole, and since the earliest days of our country, it stood as a symbol of freedom and self-determination.
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.
A group of private school students from Ramapo got lost in the sewers while on a field trip in Nyack on Wednesday.
Knicks fans had to find a new place to watch Game 4 of the NBA Finals on Wednesday after the watch party outside Madison Square Garden was canceled. CBS News New York's Dick Brennan, Doug Williams, Allen Devlin and Steve Overmyer report.
The former New York City comptroller is accused of causing a disturbance on federal property back in September 2025. Lander rejected a please deal and opted for a bench trial. CBS News New York's Alice Gainer reports.
CBS News New York's Scott Padgett has your First Alert Forecast for June 10 at 6:15 p.m.
A young Knicks fan is living out his dream, headed to Madison Square Garden for Game 4 of the NBA Finals. It was all made possible by Knicks legend Carmelo Anthony. CBS News New York's Nick Caloway reports.
