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.
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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.''
A CBS News New York investigation found online loopholes may be putting New York City's effort to prevent lithium-ion battery fires at risk.
President Joe Biden and first lady Jill Biden made a rare visit to Staten Island on Monday to honor service members and their families ahead of Thanksgiving.
Nico Hischier recorded his first career hat trick to give the New Jersey Devils a 5-2 win over the Nashville Predators.
Lucas Raymond scored the go-ahead goal in the third period and the Red Wings rallied to beat the Islanders 4-2.
The St. Louis Blues beat the New York Rangers 5-2 in Jim Montgomery's coaching debut.
A CBS News New York investigation found online loopholes may be putting New York City's effort to prevent lithium-ion battery fires at risk.
President Joe Biden and first lady Jill Biden made a rare visit to Staten Island on Monday to honor service members and their families ahead of Thanksgiving.
The mystery behind a wealthy New York couple's 1980 disappearance is starting to unravel after a team found their missing car in a Georgia pond.
New data shows car thefts at Port authority parking lots are spiking by more than 50% this quarter amid the annual holiday travel surge.
New York City is taking action against the contractor who was doing construction work on a building in the Bronx that partially collapsed in 2023.
A Thanksgiving storm is forecast to bring rain, and even snow, for some parts of New York and New Jersey.
Thanksgiving week starts Monday with partly sunny skies and temps in the mid 50s, but things will change from there.
The MTA announced the Federal Highway Administration has given congestion pricing the green light, clearing the way for it to start on Jan. 5, 2025.
After a long period of drought and fire hazards, we're getting an early taste of winter. New York, New Jersey and Connecticut have been desperate for rain.
The first major snowstorm of the season brought school closures, power outages, and heavy snow to our region, including to areas that badly needed it.
New data shows car thefts at Port authority parking lots are spiking by more than 50% this quarter amid the annual holiday travel surge.
A fire in Newark Saturday left more than 80 people - mostly senior citizens - homeless just days before Thanksgiving.
A Thanksgiving storm is forecast to bring rain, and even snow, for some parts of New York and New Jersey.
It's Thanksgiving week and what is expected to be a record number of people will be hitting the road or taking to the sky to celebrate.
New Jersey Sen. George Helmy said congestion pricing could drive businesses out of New York City and into the Garden State on "The Point with Marcia Kramer."
A Babylon boat yard went up in flames after an intoxicated woman drove the wrong way and crashed into boats, police said.
New Jersey Sen. George Helmy said congestion pricing could drive businesses out of New York City and into the Garden State on "The Point with Marcia Kramer."
Thanksgiving week starts Monday with partly sunny skies and temps in the mid 50s, but things will change from there.
The MTA announced the Federal Highway Administration has given congestion pricing the green light, clearing the way for it to start on Jan. 5, 2025.
After a long period of drought and fire hazards, we're getting an early taste of winter. New York, New Jersey and Connecticut have been desperate for rain.
President Joe Biden and first lady Jill Biden made a rare visit to Staten Island on Monday to honor service members and their families ahead of Thanksgiving.
U.S. Attorney for the Southern District Damian Williams announced plans to resign Monday.
Special counsel Jack Smith asked a federal judge to toss out the charges against President-elect Donald Trump in the case stemming from the 2020 election.
New Jersey Sen. George Helmy said congestion pricing could drive businesses out of New York City and into the Garden State on "The Point with Marcia Kramer."
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
Whole Foods Market stores in five states sold recalled carrots and celery sticks that could contain E. coli.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
The packaging label omitted a key ingredient, prompting a Food and Drug Administration recall.
The manufacturer of tumblers sold at Wawa stores says it has received four reports of cuts from the product's metal drinking straws.
Decision to cut topping comes as officials work to confirm source of E. coli outbreak linked to McDonald's Quarter Pounders.
New York's iconic Blue Man Group is packing it in after more than 30 years on stage.
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
Lawyers for actor Jonathan Majors and Grace Jabbari agreed to dismiss the case with prejudice, according to a joint filing in Manhattan federal court.
Cynthia Erivo, Ariana Grande, AMC and fans react to the debate over in-theater singing during "Wicked."
A federal judge is deciding whether to release Sean "Diddy" Combs on bail as he awaits trial on sex trafficking and racketeering charges.
Nico Hischier recorded his first career hat trick to give the New Jersey Devils a 5-2 win over the Nashville Predators.
Lucas Raymond scored the go-ahead goal in the third period and the Red Wings rallied to beat the Islanders 4-2.
The St. Louis Blues beat the New York Rangers 5-2 in Jim Montgomery's coaching debut.
The Buccaneers rushed for four touchdowns in a 30-7 victory over the Giants and new starting quarterback Tommy DeVito on Sunday.
The New York Rangers lost to the Edmonton Oilers 6-2 on Saturday night.
Tenants in a six-story building in Queens say they were forced to climb stairs amid a six-week-long elevator outage.
The new Davis Center will bring back the wonder of skating and swimming alongside Harlem Meer in Central Park.
Thursday marks exactly 60 years since the Verrazzano-Narrows Bridge opened to much fanfare.
Nov. 29 is the last day for New York City restaurants to remove roadway dining sheds, which will now be seasonal under new regulations set by the City Council.
A new state-of-the-art trash system in NYCHA's Polo Grounds Towers in Harlem promises to tackle energy, rodent and recycling issues.
Dogs got decked out for the annual Tompkins Square Halloween Dog Parade in New York City's East Village on Saturday.
Cosplayers flooded New York City's Javits Center in October 2024 for the annual New York Comic Con convention.
Tens of thousands of people flooded Manhattan streets on June 2, 2024 for the 60th annual Israel Day on Fifth Parade.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
Vanessa Murdock has the Tri-State Area's updated Monday night forecast on CBS News New York.
A CBS News New York investigation found online sellers may be putting New York City's effort to prevent lithium-ion battery fires at risk. Tim McNicholas reports.
President Joe Biden and first lady Jill Biden took a rare trip to Staten Island to honor service members and their families ahead of Thanksgiving. CBS News New York's Jennifer Bisram reports.
President-elect Donald Trump says he will impose tariffs on Mexico, Canada and China on day one in office. CBS News New York's Dick Brennan reports.
Though messy weather is on the way, the problems at Newark Airport started because of a shortage of air traffic controllers. CBS News New York's Naveen Dhaliwal reports.
