Guilty plea in $380 million Ponzi scheme, feds say
A financial adviser in Georgia, Todd Burkhalter, has pleaded guilty in a Ponzi scheme that bilked more than 2,000 people out of $380 million, federal authorities say.
Ponzi Scheme
RadioShack buyers ran a Ponzi scheme, SEC alleges
The buyers of distressed brick-and-mortar companies like RadioShack and Modell's Sporting Goods, are accused of running a Ponzi scheme.
Retired IRS agent gets 12 years for scamming elderly California woman out of life savings
A retired IRS agent from Southern California has been sentenced to state prison after she was convicted of defrauding an elderly San Francisco Bay Area woman out of $1 million in life savings.
Bernie Madoff's victims to get additional $158 million in restitution
Nearly 25,000 of the victims in Madoff's Ponzi scheme will see restitution through the Madoff Victim Fund.
California man sentenced in cow manure Ponzi scheme
After his arrest, Ray Brewer claimed he saved several soldiers from a fire while serving in the Navy, but later admitted, "these were both lies meant to curry favor with law enforcement."
2/9: Red and Blue
George Santos' work for firm accused of Ponzi scheme drew scrutiny; 2024 GOP presidential field begins to take shape.
Investigating Rep. George Santos' past
A new CBS Reports documentary explores Congressman George Santos' history of lies and his past involvement in a company accused in an alleged Ponzi scheme. CBS News political correspondent Caitlin Huey-Burns discusses "Campaign of Deceit: The Election of George Santos" with Anne-Marie Green and Seth Doane.
2009: The man who knew
In 2009, 60 Minutes interviewed Madoff Ponzi scheme whistleblower Harry Markopolos, who said he alerted the Securities and Exchange Commission of Madoff's fraud starting in 2000.
Bernie Madoff's sister and her husband dead in apparent murder-suicide
They were found unresponsive with gunshot wounds in their residence, police say. Madoff wiped out people's fortunes and ruined charities with a massive Ponzi scheme.
Christian radio host gets 3 life prison terms for bilking listeners
"He ruthlessly stole from his clients who trusted him for almost a decade," said the chief of the Tarrant County DA's Elder Financial Fraud team.
The history behind Bobby Bonilla Day
The Mets are sitting atop National League East and enjoying a good return so far on the team's $196 million payroll. But included in that figure is nearly $1.2 million for a player that hasn't stepped to the plate in more than 20 years, and one the team will continue to pay for another 14 years. Here's more on the now-infamous arrangement between an athlete and an owner, and the most notorious Ponzi scheme in history.
Bernie Madoff: How he pulled it off
On April 14, 2021, Bernard Madoff, who burned thousands of investors through an epic Ponzi scheme, died in prison while serving a 150-year prison sentence. Correspondent Jim Axelrod talks with journalist Jim Campbell, author of "Madoff Talks," who maintained a years-long correspondence with the disgraced investor and his family, to learn exactly how Madoff pulled off the largest financial fraud in Wall Street history.
Bernie Madoff: How he pulled it off
Journalist Jim Campbell, author of "Madoff Talks," maintained a years-long correspondence with the disgraced investor to learn exactly how Madoff pulled off the biggest fraud in American financial history.
Book excerpt: "Madoff Talks" by Jim Campbell
The journalist's new book features exclusive interviews with the disgraced investor who built a Ponzi scheme that grew into the largest financial fraud in Wall Street history.
Ponzi schemer Bernie Madoff dies in prison at 82
Bernie Madoff, the mastermind of the largest Ponzi scheme in history, died in prison at age 82. He suffered from kidney disease in recent years.
Federal prosecutors allege Shkreli lied and stole to keep his other companies afloat
Pharmaceutical CEO Martin Shkreli who was accused of price gouging is out on bail after his arrest Thursday on unrelated securities fraud charges. Federal prosecutors allege Shkreli lied and stole to keep his other companies afloat. He was already called a symbol of corporate greed after his drug company raised the price of a medicine by more than 5,000 percent. Anthony Mason reports.
Martin Shkreli, the pharmaceutical company CEO who caused a public uproar after drastically raising the price of a life-saving prescription drug, was arrested on Thursday
Martin Shkreli, the pharmaceutical company CEO who caused a public uproar after drastically raising the price of a life-saving prescription drug, was arrested on Thursday. Federal prosecutors accuse Shkreli of running a Ponzi-like scheme to pay off investors at his former hedge fund. Anthony Mason reports.
Stocks surged after the Labor Department announced that the U.S. economy added 211,000 jobs in November
Stocks surged after the Labor Department announced that the U.S. economy added 211,000 jobs in November. Also, the trustee of Bernie Madoff's firm began distributing more money to people swindled in Madoff's Ponzi scheme. Hena Daniels reports on the day's top MoneyWatch headlines.
A French company is showing off a self-driving shuttle bus at the Consumer Electronics Show in Las Vegas,
A French company is showing off a self-driving shuttle bus at the Consumer Electronics Show in Las Vegas. It's the first driverless vehicle commercially available in the U.S. With a top speed of 12 miles an hour, the shuttle is intended for college campuses and airport parking lots. That story and more Moneywatch headlines from Wendy Gillette.
Bernie Madoff seeks early release due to end-stage renal disease
Without compassionate release, Madoff's sentence would not end until 2139.
Jeffrey Epstein once worked at firm behind massive Ponzi scheme
"I don't think there was anyone who worked for the company who didn't understand it was a fraud the whole time," a lawyer told CBS News
Bernie Madoff asks Trump for clemency
The perpetrator of the biggest fraud in history is seeking commutation of his 150-year prison sentence, which he is serving in North Carolina
Almanac: Schemer Charles Ponzi
The founding father of financial hijinks, who trapped his investors in a "musical chairs" of fraud, was born on March 3, 1882
Ponzi scheme suspect cast spells, paid $720K for prayers to thwart charges
Six-figure payments for prayers didn't spare Dawn Bennett from a 17-count indictment on fraud charges
Feds charge 3 men after busting $364M Ponzi scheme
Federal prosecutors say the accused ripped off hundreds while spending big on homes, cars and other luxury goods
Investigation
There are more trucks on the road. But the government is inspecting them less.
A CBS News investigation finds that nearly 600 people have died in crashes since 2024 with trucks operated by companies that had never been subjected to a roadside safety inspection.
Patrick Clancy in his own words, only on 60 Minutes
This Sunday on 60 Minutes, Patrick Clancy talks about his grief, his memories of his children, and the baseless conspiracy theories that flooded social media since his ex-wife's murder trial.
Exclusive
Photos show widespread damage at U.S. positions caused by Iranian attacks
The images were sent to CBS News by active service members under condition of anonymity.
Live
U.N. experts say U.S. may have committed war crimes with 2 Iran strikes
U.N.-commissioned rights experts say there are "reasonable grounds" to believe the U.S. committed war crimes with strikes that killed scores of Iranian civilians.
House passes Russia sanctions bill, overcoming Democratic opposition
The bill was championed by GOP Sen. Lindsey Graham, who died suddenly just one day after announcing a deal had been reached with the White House.
Millionaires are everywhere in the U.S., new book says
Getting rich in the U.S. is still possible, but the most common path to wealth doesn't involve working for other people, according to a new book.
Exclusive
Family blames Texas' "merciless" abortion ban for woman's death, sues Paxton, others
The family of 37-year-old Tierra Walker filed a lawsuit against Texas Attorney General Ken Paxton and others, saying she was denied an abortion that could have saved her life.
Investigation
A trusted seal made websites look legit. The weight-loss drug they sold wasn't.
Selling retatrutide commercially is prohibited by federal law. Yet, companies have promoted the drug on social media, thanks in part to being certified by LegitScript.
9th woman found dead in South Africa, adding to fears of serial killer
South African police say a ninth woman's body has been discovered in an area east of Johannesburg, adding that it could be linked to a series of killings they are investigating.
U.S.
More U.S.
After nitrogen execution blocked, Alabama inmate to die by lethal injection
Alabama is set to execute a man with a chemical injection, months after a judge blocked the state from putting him to death with nitrogen gas.
2 adults and child found dead after flooding inundates New Mexico
Navajo Nation President Buu Nygren thanked first responders for working through the night in difficult and dangerous conditions as they searched for the people.
Investigation
There are more trucks on the road. But the government is inspecting them less.
A CBS News investigation finds that nearly 600 people have died in crashes since 2024 with trucks operated by companies that had never been subjected to a roadside safety inspection.
Millionaires are everywhere in the U.S., new book says
Getting rich in the U.S. is still possible, but the most common path to wealth doesn't involve working for other people, according to a new book.
5 missing women are linked to Olney home in Philadelphia. Here's what we know.
Inside the home, owned by Eugene Horsch and connected to his father, R.C. Horsch, authorities have found a trove of digital images, a so-called laboratory of chemicals and a small marijuana grow operation.
MoneyWatch
More MoneyWatch
Millionaires are everywhere in the U.S., new book says
Getting rich in the U.S. is still possible, but the most common path to wealth doesn't involve working for other people, according to a new book.
OpenAI reveals 6 more incidents of "unexpected or concerning" AI behavior
OpenAI has disclosed six reports of "unexpected or concerning" behavior in artificial intelligence models as the debate on AI safety becomes increasingly heated.
AI doesn't have rights or feelings, Microsoft's AI chief says
Microsoft's Mustafa Suleyman said in an essay that trying to develop AI consciousness would be "catastrophic" for humanity.
Federal Reserve raises interest rates for the first time since 2023
The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
Amazon raises starting pay to $20 an hour and adds Whole Foods perks
Amazon said it is increasing its minimum pay for operations workers by $1 an hour and adding grocery discounts for all U.S. employees.
Politics
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House passes Russia sanctions bill, overcoming Democratic opposition
The bill was championed by GOP Sen. Lindsey Graham, who died suddenly just one day after announcing a deal had been reached with the White House to move forward.
Coast Guard and FBI boarded tankers due to cyberattacks. How big is the risk?
U.S. Coast Guard personnel and FBI agents boarded two Texas-bound energy tankers last month after cyberattacks struck the vessels while they were traveling toward the United States, according to U.S. officials.
House passes bill to shield Americans from data center energy costs
The vote comes as lawmakers face increasing pressure to respond to the data center boom driven by the AI race.
ISIS-K member sentenced to 20 years in prison in case tied to Kabul bombing
An Islamic State group member was sentenced to 20 years in prison for aiding the terrorist organization that took credit for a suicide bombing that killed 13 U.S. service members and about 160 Afghans at a Kabul airport.
Virginia fines a Microsoft data center for emissions violations
As part of the settlement with Microsoft, the tech giant has agreed to invest $2.4 million toward an environmental project underway in Loudoun County.
HealthWatch
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How Olympian Aly Raisman learned to advocate for her own health
In the latest episode of "Healthful," Olympic gold medalist Aly Raisman discusses what she's learned about speaking up for herself and taking care of her body.
Investigation
A trusted seal made websites look legit. The weight-loss drug they sold wasn't.
Selling retatrutide commercially is prohibited by federal law. Yet, companies have promoted the drug on social media, thanks in part to being certified by LegitScript.
Outcome of employment lawsuit could promote use of skimpy health plans
A long-running lawsuit challenging what it means to be an employee and therefore have access to work-based health plans is being closely watched by health policy analysts.
Pennsylvania woman dies of measles complications, coroner reports
A 40-year-old woman died on Saturday from complications associated with measles, the coroner reported.
Strange symptom and a "weird" referral led to surprise Stage 4 cancer diagnosis
Kate Ping thought she was just stressed out. A nurse practitioner's surprising recommendation led to a shocking diagnosis.
World
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Possible U.S. war crimes in Iran cited by U.N.-backed experts
Human rights experts commissioned by the U.N.'s top human rights body say they have found "reasonable grounds" to believe the United States committed war crimes in two strikes in Iran.
Live
U.N. experts say U.S. may have committed war crimes with 2 Iran strikes
U.N.-commissioned rights experts say there are "reasonable grounds" to believe the U.S. committed war crimes with strikes that killed scores of Iranian civilians.
9th woman found dead in South Africa, adding to fears of serial killer
South African police say a ninth woman's body has been discovered in an area east of Johannesburg, adding that it could be linked to a series of killings they are investigating.
House passes Russia sanctions bill, overcoming Democratic opposition
The bill was championed by GOP Sen. Lindsey Graham, who died suddenly just one day after announcing a deal had been reached with the White House to move forward.
Coast Guard and FBI boarded tankers due to cyberattacks. How big is the risk?
U.S. Coast Guard personnel and FBI agents boarded two Texas-bound energy tankers last month after cyberattacks struck the vessels while they were traveling toward the United States, according to U.S. officials.
Entertainment
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Entertainment
Sheeran torched over Macklemore tour ousting
Ed Sheeran is facing intense public backlash after rapper Macklemore, who was set to open his upcoming tour dates, was dropped from the production over pro-Palestine comments. CBS News' Shanelle Kaul reports and Alex Suskind, news director at online music magazine Pitchfork, joins "The Daily Report" to discuss.
Judge Judy's son takes up the gavel in new show
Judge Judy has been a staple of daytime TV for 30 years, but now televised courts are becoming a family affair with her son, Adam Levy, picking up the gavel and donning the robe for "Adam's Law." Judge Levy joins CBS News to preview the new show.
Ed Sheeran speaks out on Macklemore decision
Ed Sheeran spoke out Tuesday after facing backlash for dropping Macklemore from his tour following the rapper's pro-Palestinian statements onstage. Shanelle Kaul reports.
Ed Sheeran breaks silence amid controversy
The rapper Macklemore was bumped from Ed Sheeran's U.S. concert tour for pro-Palestinian comments that some say crossed a line into prejudice. Now, four additional supporting acts have quit in solidarity and the headliner has addressed the controversy. Carter Evans reports.
Ed Sheeran's supporting acts pull out of tour after Macklemore was dropped
Aaron Rowe, Beoga, Lukas Graham and Finneas all released statements Tuesday on Instagram saying they were withdrawing from Ed Sheeran's tour.
Technology
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House passes bill to shield Americans from data center energy costs
The vote comes as lawmakers face increasing pressure to respond to the data center boom driven by the AI race.
Reporter's first impressions of iPhone Duo
Apple has announced its first foldable iPhone called the Duo. While pre-orders for the nearly-$2,000 phone are just a month away, some people got their hands on it at Apple's launch event. CNET senior technology reporter Abrar Al-Heeti was one of them and joins CBS News to discuss.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Alabama attorney general candidate on AI, more
House lawmakers are heading home for recess until after the midterms, leaving artificial intelligence regulation still stalled in Congress. Alabama Republican candidate for attorney general Katherine Robertson, who is currently leading a state investigation into OpenAI, joins "The Takeout" to discuss.
AI doesn't have rights or feelings, Microsoft's AI chief says
Microsoft's Mustafa Suleyman said in an essay that trying to develop AI consciousness would be "catastrophic" for humanity.
Science
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Humpback whale seen grieving dead calf in rare footage
The footage shows a female humpback whale staying close to the dead calf as it lies motionless on the seafloor, touching it with its head and fin.
Remains of ancient warhorse given honorific burial discovered in Egypt
Archaeologists say they've discovered the remains of a likely ancient Egyptian warhorse given an honorific burial more than 3,000 years ago.
Anthropic CEO says "exponential" growth of AI is a "warning sign"
Artificial intelligence technology is developing at an "exponential" rate, Anthropic CEO Dario Amodei told CBS News, calling the situation a "warning sign" for the industry that requires serious safeguards.
First-ever adult T. rex trackway found in North Dakota
Paleontologists have identified the first known trackway made by a full-grown Tyrannosaurus rex, and the discovery was made in the North Dakota badlands.
Ig Nobel prizes go to scientists studying cockroach milk, nose-blowing, more
Ten research teams were honored at a satirical science awards ceremony that was hosted outside the U.S. for the first time due to travel concerns. A study of cockroach milk was among the winners.
Crime
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I slept in the room where Lizzie Borden's stepmom was killed. Here's what I found.
In 2019, a brave team of "48 Hours producers" traveled to Fall River, Massachusetts, to spend the night in the house where Andrew and Abby Borden were found brutally murdered.
9th woman found dead in South Africa, adding to fears of serial killer
South African police say a ninth woman's body has been discovered in an area east of Johannesburg, adding that it could be linked to a series of killings they are investigating.
5 missing women are linked to Olney home in Philadelphia. Here's what we know.
Inside the home, owned by Eugene Horsch and connected to his father, R.C. Horsch, authorities have found a trove of digital images, a so-called laboratory of chemicals and a small marijuana grow operation.
Patrick Clancy sits down with 60 Minutes
Patrick Clancy spoke with 60 Minutes this week. Shanelle Kaul has a preview of the story, which airs Sunday.
U.S. probing suspected cyberattack on tanker
The FBI and the Coast Guard are investigating a giant oil tanker on its way to Texas that may have been taken over by a cyberattack. Iranian state media claims hackers had control of the ship's propellers, raising concern that these giant vessels could be used as weapons. Nicole Sganga reports.
Space
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NASA spacecraft discovers moon crater bigger than Roman Colosseum
Scientists have discovered a crater on the moon that's bigger than the Roman Colosseum, the result of a powerful impact two years ago.
NASA launches its Roman Space Telescope to explore the hidden universe
NASA's Roman Space Telescope launched shortly after daybreak from Kennedy Space Center and blazed toward an observation point 1 million miles away.
Roman Space Telescope promises 300-megapixel views of the cosmos
The $4.3 billion telescope is expected to discover tens of thousands of exoplanets while probing the nature of mysterious dark matter and energy.
First on CBS
Trump to honor Artemis II crew with nation's top space medal
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
NASA's Swift telescope will plunge toward Earth after rescue mission called off
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Latest CBS News Videos
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Latest CBS News Videos
Patrick Clancy still talks to his kids
Patrick Clancy says he still talks to his three children, who were killed in 2023. Watch the full interview Sunday on 60 Minutes.
Will the AI Bubble Hit Your Wallet?
Artificial intelligence is on everyone's lips these days—but what does it actually mean for your wallet? Jill and Mark are breaking down what you need to know about AI and your portfolio, including how to protect yourself from potential market turmoil. Plus, Jill and Mark help caller Cody prepare for a major career shift.
Patrick Clancy sits down with 60 Minutes
Patrick Clancy spoke with 60 Minutes this week. Shanelle Kaul has a preview of the story, which airs Sunday.
Sheeran torched over Macklemore tour ousting
Ed Sheeran is facing intense public backlash after rapper Macklemore, who was set to open his upcoming tour dates, was dropped from the production over pro-Palestine comments. CBS News' Shanelle Kaul reports and Alex Suskind, news director at online music magazine Pitchfork, joins "The Daily Report" to discuss.
Musk's DOGE spent billions cutting jobs
A new report from the Government Accountability Office shows federal agencies spent $9.5 billion on administrative leave costs in 2025, an increase spurred by the DOGE push to cut down the federal workforce. CBS News' Aaron Navarro has more.