Syosset Man Pleads Guilty To Running $30M Ponzi Scheme
Eric Aronson told a federal judge in Central Islip Friday he knew what he was doing was wrong.
Watch CBS News
Eric Aronson told a federal judge in Central Islip Friday he knew what he was doing was wrong.
In an interview with "60 Minutes" in 2011, Madoff insisted he had no idea what his father was up to.
A senior partner at a New York accounting firm has now pleaded guilty to his role in the multi-billion dollar Bernard Madoff Ponzi scheme.
Yeshiva University is reportedly $1 billion in the red, with $500 million in debts and another $500 million in losses with risky investments.
An investment fund manager has admitted in a Long Island courtroom to stealing nearly $100 million of investors' money in a Ponzi scheme that helped fund his interest in a Hamptons resort.
The verdicts came Monday in a Manhattan trial that lasted nearly six months. The federal court trial was the first to result from the multi-decade fraud that landed Madoff in prison for 150 years.
The jury has the monumental task of sorting through five months of testimony to determine whether the ex-Madoff employees knew that their jobs involved perpetuating a massive Ponzi scheme.
The prosecution wraps up closing statements in the trial against five former aides to Ponzi schemer Bernard Madoff. Madoff's former secretary, his former head of operations, an account manager and two computer programmers are on trial.
prosecutor John Zach told jurors Tuesday that Madoff depended on his former secretary, his former head of operations, an account manager and two computer programmers to keep his fraud alive for four decades.
Convicted swindler Bernie Madoff's secretary took the stand nearly five years after her former boss went to prison.
The fund will distribute assets forfeited in the Madoff case. It's separate from a bankruptcy court proceeding that has recovered money to redistribute to burned Madoff clients.
Daniel Bonventre has pleaded not guilty to fraud charges. Authorities say he cooked the books to throw off regulators.
Madoff was sentenced to 150 years in prison after pleading guilty in 2009 for bilking investors of $65 billion. He ran his operation out of an office in the Lipstick Building in Midtown Manhattan.
A Naval Academy graduate ripped off his friends, family and former classmates by running a $1.2 million Ponzi scheme, prosecutors said Tuesday.
The bank will pay $1.7 billion to settle criminal charges and a $350 million civil penalty for what the Treasury Department called "critical and widespread deficiencies'' in its programs to prevent money laundering and other suspicious activity.
Bernard Madoff placed no premium on further education for the employees he hired right out of high school -- the less they knew, the better -- the Ponzi schemer's longtime lieutenant testified Monday.
The cross-examination of the government's star witness in the trial of five of Bernard Madoff's former empoyees has given the jury new insight into the way disgrace financier ran his massive Ponzi scheme.
New York financier Bernard Madoff's former right-hand man summed up his boss' arrest exactly five years ago with two words: "Madoff Implodes.''
The former right-hand man of disgraced financier Bernard Madoff told a New York City jury Tuesday that a crying Madoff revealed to him that his financial empire was a gigantic fraud just before the rest of the world learned the truth nearly five years ago.
A Long Island soccer club official has been accused of running a $5-million Ponzi scheme.
Frank DiPascali testified that his boss would "razzle dazzle" auditors by using computer programs specially designed to make it appear that fake investments were real.
Frank DiPascali described the tangled web of deceit woven by Madoff as he juggled investors' money and tried to keep investigators away.
Bernard Madoff's former right-hand man is about to take center stage at the trial of five former co-workers. Prosecutors plan to call Frank DiPascali to the witness stand this week in federal court in Manhattan.
Enrica Cotellessa-Pitz, who worked for Madoff for three decades, is testifying against five former colleagues in exchange for leniency.
The trial against five of Bernard Madoff's former employees continued Wednesday with testimony from consultants who investigated the firm following Madoff's arrest.
Zero-proof beverages are having a moment, especially at Westchester County's first "spirit-free bottle shop."
An outbreak of E. coli and salmonella that has sickened dozens of people across 15 states has been linked to an alfalfa grower in Minnesota, federal health officials said Friday.
Multiple people in one Queens neighborhood say their homes are repeatedly getting flooded out when storms hit.
The Milleridge Inn in Jericho went up in flames Thursday night. It's a piece of Long Island history. The main restaurant dates all the way back to 1672.
Hundreds of people were near the Sun & Surf Beach Club in Atlantic Beach when a tornado hit.
Zero-proof beverages are having a moment, especially at Westchester County's first "spirit-free bottle shop."
Multiple people in one Queens neighborhood say their homes are repeatedly getting flooded out when storms hit.
The Milleridge Inn in Jericho went up in flames Thursday night. It's a piece of Long Island history. The main restaurant dates all the way back to 1672.
Hundreds of people were near the Sun & Surf Beach Club in Atlantic Beach when a tornado hit.
The NYPD wants your help finding a Brooklyn shooting suspect. The bullet wound up striking a dog, according to police.
Friday's quiet weather was a much-needed respite from a tumultuous weather day on Thursday, but it won't last long.
Rainy weather returns to the New York City area Sunday, bringing with it the threat of flooding.
Bayonne, New Jersey, is heading to the Little League World Series after beating Darien, Connecticut, in the Metro Region Tournament on Friday.
We're in great shape on this Friday as we gear up for another weekend.
The potential for severe storms and downpours returns to the Tri-State Area Monday as sweltering temperatures continue.
The undefeated Bayonne, New Jersey, all-star Little Leaguers beat West Chester, Pennsylvania, on Friday night in their second game in the Little League World Series.
Friday's quiet weather was a much-needed respite from a tumultuous weather day on Thursday, but it won't last long.
Bayonne is still riding the high from Wednesday night's Little League World Series game, where the boys beat Massachusetts 2-1.
Bayonne, New Jersey, is advancing to the next round of the Little League World Series.
Researchers say an alarming study on cognitive decline is specific to the African American community in Newark, New Jersey.
The Milleridge Inn in Jericho went up in flames Thursday night. It's a piece of Long Island history. The main restaurant dates all the way back to 1672.
Hundreds of people were near the Sun & Surf Beach Club in Atlantic Beach when a tornado hit.
It's a piece of Long Island history, dating back centuries. It's one of the oldest operating restaurants in America - the main restaurant dates all the way back to 1672. CBS News New York's John Dias reports.
The tornado hit the Sun and Surf Beach Club at around 6:50 p.m. Thursday. CBS News New York's Carolyn Gusoff reports.
Friday's quiet weather was a much-needed respite from a tumultuous weather day on Thursday, but it won't last long.
A federal appeals court said the top federal prosecutor in the Northern District of New York was unlawfully serving when he subpoenaed state Attorney General Letitia James.
A New York woman is accused of plotting "a major attack" on the state Capitol building in Albany, authorities said Thursday.
The Democratic National Committee is on the hunt for the best host city for the 2028 Democratic convention.
As we approach the 25th anniversary of the Sept. 11, 2001, terror attacks, there is an ongoing fight to repair Jersey City's memorial for the victims.
President Trump said Tuesday that the U.S. and Canada have reached a last-minute agreement to pause the 50% tariffs.
A New Yorker has tested positive for West Nile virus, the city health department announced Wednesday.
Researchers say an alarming study on cognitive decline is specific to the African American community in Newark, New Jersey.
Moderna and Merck announced study results that reflect a "landmark moment" in treatment for one of the deadliest forms of skin cancer.
Two more deaths have been reported in connection to the Legionnaires' disease cluster on the Upper East Side, health officials said Friday.
Jones Beach is back open for swimmers after it was prohibited due to elevated bacterial levels. The rare shutdown took place from Thursday afternoon through midday Friday.
"Today, Elwood and I lost a great friend and collaborator, and the world lost one of the most naturally innovative drummers and a great and true son of Texas," ZZ Top's Billy Gibbons said in a statement.
Brian Hickerson and his brother, Zach, made the 911 call that brought first responders to the apartment where Hayden Panettiere was found unresponsive.
Hayden Panettiere, who starred in "Remember the Titans" as a child actor and rose to fame in the series "Heroes," has died at the age of 36. The coroner's office says she was found in cardiac arrest.
The lineup for the 2026 Global Citizen Festival in New York City was announced Thursday.
Latin music stars Marc Anthony, Feid, and others are set to perform at a benefit concert in Miami on August 16.
The undefeated Bayonne, New Jersey, all-star Little Leaguers beat West Chester, Pennsylvania, on Friday night in their second game in the Little League World Series.
The New York Police Department explained its security plans to keep more than a million fans and hundreds of players safe ahead of the U.S. Open.
Gerrit Cole pitched six sharp innings, and the New York Yankees completed a three-game sweep in Baltimore with a 6-1 victory over the Orioles.
Bayonne is still riding the high from Wednesday night's Little League World Series game, where the boys beat Massachusetts 2-1.
MLS-leading Nashville SC pulled out a 1-0 victory over the New York Red Bulls on Wednesday night.
The DSNY reported an increase in needle stick injuries for New York City sanitation workers.
A Queens homeowner says that overgrown city trees on her block are creating a safety hazard at night.
Neighbors say Flushing Meadows Corona Park has been falling into disrepair for years.
The owner of a beloved Harlem food truck known for its burgers under $5 is retiring and selling the business.
The historic Art Deco bathhouse at Jacob Riis Park is getting a new life as the Rockaway Ocean Club. But as the long-dormant building reopens, some locals are questioning who will have access to its amenities.
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.
There are growing privacy concerns over Meta's AI glasses and people being recorded without their consent. Anna Schecter has been following the trend.
Hundreds of women have rallied outside a Massachusetts courthouse throughout the trial of Lindsay Clancy to support her and her postpartum mental health struggle. Shanelle Kaul met with one woman who's sharing her experience with the condition.
President Trump was in South Carolina on Friday, rallying for the sister of late Sen. Lindsey Graham. It comes as the administration is getting ready to reveal details on what Mr. Trump called "economic D-day" against Iran. Natalie Brand reports.
We're learning new information about a New York City woman who was found dead in Las Vegas after she was missing for nearly two weeks.
The all-stars from Bayonne, New Jersey, played in their second Little League World Series on Friday night. CBS News New York's Doug Williams reports from a hometown watch party.
