Justice Department Distributes $568 Million To Bernie Madoff Ponzi Scheme Victims
Thirty-one thousand people lost money in Madoff's financial fraud, one of the biggest in history.
Thirty-one thousand people lost money in Madoff's financial fraud, one of the biggest in history.
Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes.
Attorney Brandon Sample told Judge Denny Chin that Madoff, 81, and confined to a wheelchair, should be allowed to contest claims by prosecutors that he has failed to show remorse.
Madoff's lawyers want him freed under a program that permits the release of some inmates who have less than 18 months to live.
He was sentenced to 150 years in prison for using his investment firm to cheat clients out of billions of dollars.
The Department of Justice confirmed Madoff filed paperwork asking the president, who has final say on clemency, to commute his term.
Attorney Roland Riopelle says 70-year-old Annette Bongiorno will have served two thirds of her six-year prison term by March 19 and should be released then.
The money represents approximately 75% of the estimated $17.5 billion in principal lost by customers who filed claims.
Victims of the Bernard Madoff Ponzi scheme will split a repayment of about $342 million in January under a plan by a court trustee.
A judge sentenced the last defendant in the Bernard Madoff Ponzi scheme case on Wednesday to six months in prison.
A judge spared Paul Konigsberg prison time and agreed not to require post-sentence supervision.
A former accountant who certified fake financial records hiding Bernard Madoff's epic Ponzi scheme was sentenced on Thursday to one year of home confinement.
Annette Bongiorno she apologized to victims of the multi-decade, multi-billion dollar fraud and berated herself for failing to see past her boss's influence and the riches he bestowed on her.
The trustee recovering money for thousands of investors said Monday that a half-billion-dollar settlement has been reached with two financial funds that invested with Ponzi schemer Bernard Madoff.
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.
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.
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.
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.
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.
New York financier Bernard Madoff's former right-hand man summed up his boss' arrest exactly five years ago with two words: "Madoff Implodes.''
Today will be cold and blustery, with highs only in the 40s. North and west of the city may even see some isolated snow showers.
The average Wall Street bonus fell 2% last year — to $176,500, New York state officials say. The bonus' high water mark was $240,400 in 2021, and its relative low was $111,400 in 2011.
Which book should we read next: "Becoming Madam Secretary" by Stephanie Dray, "Finding Margaret Fuller" by Allison Pataki, or "Sylvia's Second Act" by Hillary Yablon.
Players in Long Island's first flat track roller derby league are preparing for the upcoming season, but it could be in jeopardy because of Nassau County's ban on transgender athletes.
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights.
Today will be cold and blustery, with highs only in the 40s. North and west of the city may even see some isolated snow showers.
Players in Long Island's first flat track roller derby league are preparing for the upcoming season, but it could be in jeopardy because of Nassau County's ban on transgender athletes.
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights.
There was an explosion of emotions when the Columbia Lions found out they were headed into March Madness for the first time in program history.
Overnight, a 19-year-old was taken into custody for questioning as a possible second shooter in the case.
Today will be cold and blustery, with highs only in the 40s. North and west of the city may even see some isolated snow showers.
Sun will mix with clouds today, as it's breezy and much cooler than yesterday. Highs only around 50.
Today will be our last day of spring-like warmth for a while, with temperatures reaching the low 60s.
Highs will be well above average Saturday and could top out in the low 60s - a great day for the NYC St. Patrick's Day Parade!
We'll see isolated showers on and off today, while temperatures stay mild with highs in the 60s.
Today will be cold and blustery, with highs only in the 40s. North and west of the city may even see some isolated snow showers.
It comes just after a $54 million increase in state aid.
Sun will mix with clouds today, as it's breezy and much cooler than yesterday. Highs only around 50.
Rick Pitino on being left out: "We're not going to gripe. We're not gonna say we got screwed. None of that helps."
Today will be our last day of spring-like warmth for a while, with temperatures reaching the low 60s.
Players in Long Island's first flat track roller derby league are preparing for the upcoming season, but it could be in jeopardy because of Nassau County's ban on transgender athletes.
Jenner, who won the 1976 Olympic men's decathlon before coming out as transgender, said the future of sports is at stake.
Authorities say Amanda Wallace was caught stealing beauty products from a CVS in Lindenhurst.
Today will be our last day of spring-like warmth for a while, with temperatures reaching the low 60s.
Highs will be well above average Saturday and could top out in the low 60s - a great day for the NYC St. Patrick's Day Parade!
Only a few more than 80 licensed stores have opened since the law was signed three years ago, while there are thousands of illegal cannabis shops operating.
Jenner, who won the 1976 Olympic men's decathlon before coming out as transgender, said the future of sports is at stake.
A former police colleague said Adams demanded oral sex in exchange for his help with an employment issue in 1993.
Former President Donald Trump has until March 25 to obtain a bond to secure $464 million judgment against him as he appeals his New York civil fraud case.
Child care advocates are asking the mayor to reverse the $400 million in funding cuts to the city's universal pre-k and 3-k.
Dr. Nidhi Kumar is On Call for CBS New York to break down the most common sleep disorders.
Payments and procedure authorizations are at a standstill and it's having a real impact on lives.
The 910-page report on the COVID pandemic faults planning, communication and decision making in Trenton and Washington, D.C.
It was a day of confusion after almost a dozen ambulette companies stopped transporting Medicaid patients in a bitter dispute over reimbursement rates.
With expanded screening, treatment and vaccination, experts believe cervical cancer can be completely eliminated.
He'll play more than a dozen concert dates in the newly refurbished theater.
A second man is charged in connection with the 2005 theft of ruby slippers worn by Dorothy in "The Wizard of Oz".
Celine Dion said in her post that March 15 was International Stiff-Person Syndrome Awareness Day.
Climate protesters used a pivotal townhall meeting scene to inject some action of their own on Broadway.
Actor Olivia Munn said on social media she's had four surgeries in the last 10 months, including a double mastectomy, since being diagnosed with breast cancer.
Players in Long Island's first flat track roller derby league are preparing for the upcoming season, but it could be in jeopardy because of Nassau County's ban on transgender athletes.
There was an explosion of emotions when the Columbia Lions found out they were headed into March Madness for the first time in program history.
Jenner, who won the 1976 Olympic men's decathlon before coming out as transgender, said the future of sports is at stake.
Minute Media, an Israeli digital media company, secures rights to publish Sports Illustrated and will continue to put out a print edition.
Rick Pitino on being left out: "We're not going to gripe. We're not gonna say we got screwed. None of that helps."
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights.
Fire marshals said the five-alarm blaze in Sunnyside was set accidentally by a contractor. Tenants in more than 100 units were displaced.
The 12th annual Brain Fair brought out hundreds of kids to get hand-on experience learning about the most complex organ.
After their landlord wanted to double the price of their rent, tenants at 700 East 134th St., fought back and purchased the building.
Alex and Bessie Kuravsky put their bouncing baby boy to sleep and woke up to an unthinkable tragedy in their Brooklyn apartment.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
As much of the northeast experiences heavy rains, parts of New York City are beginning to flood.
Thousands of people flooded Union Square on Friday for a PlayStation giveaway promoted by livestreamer Kai Cenat.
A crane went up in flames high above Manhattan, then partially collapsed onto the street below.
The Grammy Award winning singer who graced the stage for generations died at the age of 96.
Officials say lithium-ion batteries were found inside the building, but the cause remains under investigation.
Police say the 19-year-old was found with multiple gunshot wounds early Tuesday morning in Brooklyn.
Determined women take center stage in this next round of books to choose from.
CBS New York's Chris Wragge will be live at the Long Island high school this Friday morning.
CBS New York's First Alert Weather team has the latest weather forecast.