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 FBI used the Intrepid Museum to help conduct the massive investigation after 9/11.
The New York Yankees beat the Colorado Rockies 10-3 on Thursday night to tighten the AL East race.
One person has died and a total of five people have been sickened by Legionnaires' disease in the Bronx.
Pilot Nick Dobi, now 84, remembers being diverted to Newfoundland after the 9/11 attacks, calling it the "most dramatic, emotional flight of my life."
CBS News producer Caroline Lewis shares the story of her mother Patty, who established a school in a disadvantaged community after losing her husband on 9/11.
The FBI used the Intrepid Museum to help conduct the massive investigation after 9/11.
One person has died and a total of five people have been sickened by Legionnaires' disease in the Bronx.
Pilot Nick Dobi, now 84, remembers being diverted to Newfoundland after the 9/11 attacks, calling it the "most dramatic, emotional flight of my life."
Thousands of children lost a parent 25 years ago on Sept. 11, 2001. They became known by the name of the organization formed to support them, Tuesday's Children.
For 25 years, we've paid somber tribute to the victims of 9/11. That includes broadcast engineers Isaias Rivera and Robert Pattison, two members of our CBS News New York family.
After a week filled with periods of storminess and high humidity, a calmer and drier weather pattern is settling in for the holiday weekend.
Severe storms returned to the Tri-State Area, making it a soggy Thursday morning.
The rain returns Tuesday with the possibility of severe storms and downpours that can cause flash flooding in the New York City area.
Activity by ICE agents is putting a chill on the economy in parts of Connecticut after an estimated 100 people were recently grabbed off the streets of Danbury and other communities.
A First Alert Weather Day has been issued for Tuesday and Wednesday due to the threat of strong to severe thunderstorms.
Middletown, New Jersey, had more residents killed in the terror attacks on Sept. 11, 2001, than any other town outside of New York City.
The Empty Sky Memorial at Liberty State Park in Jersey City honored the hundreds of New Jersey residents killed in the 9/11 attacks Thursday.
A U.S. Army intelligence officer from New Jersey says he has never felt like he needed to choose between his Muslim faith and his service.
A cosmetic treatment that promises breast enhancement without surgery is now at the center of a fight over who regulates human tissue in New York.
More than 41,000 students are heading back to class across Newark, New Jersey, Tuesday following 11 weeks of summer vacation.
Many remember an image featuring longtime FDNY firefighter Bob Beckwith that spread around the world in the days following the 9/11 attacks -- an image of bravery and hope.
Retired at the time, Beckwith, who spent 30 years with the FDNY, responded to the devastation at ground zero and was captured in an iconic moment with President George W. Bush. CBS News New York's Jennifer McLogan reports.
A man accused of killing a Long Island woman was fatally shot by police officers in Massachusetts on Wednesday night, officials say.
New water rescue equipment can now reach swimmers in distress before rescue crews can even reach the water. Nassau County Police on Thursday unveiled drones equipped with flotation devices to reach people in trouble in a matter of seconds. CBS News New York's Carolyn Gusoff reports.
Though none of them were even born in 2001, students at Commack High School continue to pass on memories of the 9/11 terror attacks.
Many remember an image featuring longtime FDNY firefighter Bob Beckwith that spread around the world in the days following the 9/11 attacks -- an image of bravery and hope.
As governor of New York on Sept. 11, 2001, George Pataki was responsible for many of the decisions being made at the highest level of state government. He recently reflected on that somber day.
Former President George W. Bush gave rare remarks on Wednesday as Americans mark 25 years since the Sept. 11 terrorist attacks.
Ray Kelly, the longest-serving NYPD commissioner in history, is widely credited with driving down crime and ramping up the department's counterterrorism capacity.
Hundreds of thousands of New York City students are heading back to school Thursday with many new changes and programs in store.
One person has died and a total of five people have been sickened by Legionnaires' disease in the Bronx.
As of late August, the September 11th Victim Compensation Fund has received 112,000 claims, awarding more than $18 billion.
A cosmetic treatment that promises breast enhancement without surgery is now at the center of a fight over who regulates human tissue in New York.
Twenty-five years after the terrorist attacks on Sept. 11, 2001, the health threat hasn't ended for many survivors.
New York City officials released thousands of previously unseen documents questioning the air quality at Ground Zero following the 9/11 attacks.
Grammy and Emmy Award-winning musician Lizzo made a surprise visit to meet Brooklyn students and debut her new children's book.
Some are calling for Macklemore to be removed from Ed Sheeran's Loop tour after he used part of his opening performance on Friday and Saturday nights at MetLife Stadium to share his pro-Palestinian views about the war in Gaza.
The Met's decision to highlight the work by designer John Galliano sparked widespread controversy due to his history of antisemitic and racist comments.
Tim Curry was known for his iconic performances in cult classics like "The Rocky Horror Picture Show" and the original screen adaptation of Stephen King's "It."
President Trump said that he would be "lowering the American flag" throughout the nation for one week in Dolly Parton's honor.
The New York Yankees beat the Colorado Rockies 10-3 on Thursday night to tighten the AL East race.
Jude Terry and Armindo Sieb each scored a goal, Hugo Lloris had his MLS-leading 12th shutout this season, and Los Angeles FC beat the New York Red Bulls 2-0 to snap a six-game winless streak.
Rookie George Lombard Jr. became the second-youngest player in Yankees' history to hit a grand slam as New York beat the Rockies 6-1 on Wednesday night.
Dániel Gazdag scored in the third minute of second-half stoppage time to rally the New England Revolution to a 2-1 victory over New York City FC on Wednesday night at Citi Field.
The New York Yankees beat the Colorado Rockies 5-3 on Tuesday night to clinch their 34th straight winning season.
Former Mets players from the 2001 season were at Ladder 25 on the Upper West Side on Tuesday.
Grammy and Emmy Award-winning musician Lizzo made a surprise visit to meet Brooklyn students and debut her new children's book.
A Bronx pizzeria is proving that kindness is contagious by giving slices to hungry New Yorkers.
Brooklyn Community Services says keeping its mobile shower program running is becoming increasingly difficult as the costs of fuel, hygiene products and other expenses rise.
The Brooklyn family traces its roots to Pieter Claesen Wyckoff, who arrived in the New World 400 years ago. Today, descendants connect through reunions, Zoom calls and a massive genealogical database.
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 77-year-old man was killed and his 52-year-old daughter was one of two women hospitalized after they were struck by a truck driver in Chinatown on Thursday. CBS News New York's Adi Guajardo reports.
Rapper Snoop Dogg will host this year's MTV Video Music Awards.
CBS News New York's Lonnie Quinn has your First Alert Forecast for September 10 at 11 p.m.
In the hours following the terror attacks on Sept. 11, 2001, the FBI in Manhattan needed to set up a secure emergency command center. They looked to the water, using the Intrepid Museum to help conduct the massive investigation. CBS News New York's Alice Gainer reports.
There was a scare at Ramapo College in New Jersey on Thursday after a report of a gun on campus.
