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.
Watch CBS News
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.''
The Atlanta Hawks rallied late to beat the New York Knicks on Wednesday night.
![Khalid Shaikh Mohammed [Misc.]](https://assets3.cbsnewsstatic.com/hub/i/r/2024/07/31/1ef51549-48fe-4be8-b947-da35b1c062d9/thumbnail/640x360/6595fa9748301e13e2538dbc60c04aff/gettyimages-50382866.jpg?v=c1d30b1df13c40bf65c6c1e6d9ac4ad7#)
A military judge has ruled that plea agreements struck by alleged Sept. 11 mastermind Khalid Sheikh Mohammed and two co-defendants are valid, a government official said Wednesday.
A Bronx resident says illegally parked RVs and abandoned vehicles have been an eyesore in his community for years.
PowerUP is a business competition started by the Brooklyn Public Library following economic turmoil in the wake of 9/11.
A Republican hold on the lower Hudson Valley may help the retain control of the House of Representatives.
A military judge has ruled that plea agreements struck by alleged Sept. 11 mastermind Khalid Sheikh Mohammed and two co-defendants are valid, a government official said Wednesday.
A Bronx resident says illegally parked RVs and abandoned vehicles have been an eyesore in his community for years.
PowerUP is a business competition started by the Brooklyn Public Library following economic turmoil in the wake of 9/11.
A Republican hold on the lower Hudson Valley may help the retain control of the House of Representatives.
With record warmth and no rain, the Tri-State Area continues to dry out and the drought worsens.
Connecticut election results show Vice President Kamala Harris won the state, and Sen. Chris Murphy was reelected, CBS News projects.
This Election Day is expected to be one of our warmest ever on record for New York City and the surrounding area.
Here's how to find your polling location for Election Day 2024 in New York, New Jersey and Connecticut.
Here's when polls opened and closed Tuesday for Election Day 2024 in New York, New Jersey and Connecticut.
A warming trend starts Monday around the NYC area, with record-breaking temperatures expected later this week.
Two New Jersey Democrats made history on Tuesday, but vote margins in the state are reasons for some concern.
The New Jersey Forest Fire Service says a wildfire is burning near South Stump Tavern Road in Jackson Township.
As part of our #BetterTogether initiative, we are partnering for the third year with the Community Food Bank of New Jersey to help feed families this holiday season.
New Jersey election results show Vice President Kamala Harris won the state, and Rep. Andy Kim won former Sen. Bob Menendez's seat, CBS News projects.
Tom Kean Jr. won his reelection bid against challenger Sue Altman in New Jersey's 7th congressional district, CBS News projects.
New York State Police say they are now conducting two investigations into Long Island State Trooper Thomas Mascia, who claimed he was shot in the leg while on the job last week.
New York Sen. Kirsten Gillibrand has won her bid for reelection against Republican challenger Mike Sapraicone, CBS News projects.
Democrat Laura Gillen has declared victory over Anthony D'Esposito in New York's 4th Congressional District. CBS News has not projected a winner.
Rep. Nick LaLota has fended off challenger John Avlon in New York's Congressional District 1 race, CBS News projects.
The FBI's New York division and New York law enforcement say they're prioritizing election security ahead of Election Day.
A Republican hold on the lower Hudson Valley may help the retain control of the House of Representatives.
Two New Jersey Democrats made history on Tuesday, but vote margins in the state are reasons for some concern.
With Donald Trump projected the winner of the 2024 presidential election, many are wondering what this might mean for abortion rights and immigration policies.
Donald Trump has won a second term in the White House after surpassing the 270 electoral votes needed for victory, CBS News projected Wednesday morning.
Prop 1 wasn't the only measure New York City voters had to tackle. They approved a number of others that were backed by Mayor Eric Adams.
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.
Gov. Kathy Hochul on Tuesday announced a $150 million investment in a new state-of-the-art cell and gene therapy hub to be built on Long Island.
Dozens of New York and New Jersey schools are impacted by a recall of meat and poultry products potentially contaminated with listeria.
The worst rates of the infection known as "walking pneumonia" or "white lung pneumonia" are in young children ages 2 to 4 years old.
Quincy Jones, the multi-talented music legend who collaborated with everyone from Michael Jackson to Frank Sinatra, has died at 91, his family announced.
Rapper Tekashi 6ix9ine has been arrested in New York City for alleged violations of the conditions of supervised release that were set when he was sentenced several years ago to two years in prison in a racketeering case.
Teri Garr rose from being a background dancer in Elvis Presley movies to co-star in such favorites as "Young Frankenstein" and "Tootsie."
Timothée Chalamet surprised the crowd at his own look-alike contest at Washington Square Park in Manhattan.
The lead singer-songwriter for the superstar band Fleetwood Mac who became a superstar solo artist talks about her latest song, "The Lighthouse," that was inspired by her own experience with abortion, and a strong desire to "do something."
The Atlanta Hawks rallied late to beat the New York Knicks on Wednesday night.
Bo Horvat scored the only goal in a shootout and the New York Islanders rallied past the Pittsburgh Penguins on Tuesday night.
The Steelers have traded for a wide receiver from the Jets and an edge rusher from the Packers before the NFL's trade deadline.
Jake Allen made 31 saves, helping the Devils close their road trip with a 3-0 victory over the Oilers on Monday.
Alperen Sengun had 25 points and 14 rebounds, and the Houston Rockets held on for a 109-97 win over the New York Knicks on Monday night.
A Bronx resident says illegally parked RVs and abandoned vehicles have been an eyesore in his community for years.
PowerUP is a business competition started by the Brooklyn Public Library following economic turmoil in the wake of 9/11.
Harlem School of the Arts students designed and painted four new murals for Wollman Rink.
In the Queens neighborhood known as Little Guyana, preparations are underway for the community's annual Diwali festival.
The Bergen Beach home on East 72nd Street and Avenue K has become a neighborhood attraction.
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."
CBS News New York's Lonnie Quinn has your First Alert Forecast for November 6 at 11 p.m.
A military judge has blocked an order by Defense Secretary Lloyd Austin to void the plea deals of the alleged mastermind of the 9/11 attacks and two co-defendants.
New Jersey Forest Fire crews are working to battle a wildfire burning in Jackson Township. They say dry conditions are fueling the flames. CBS News New York's Alecia Reid reports.
Leaders of different faiths gathered in Morningside Heights on Wednesday for a prayer service. The event at St. John the Divine aimed to bring people together at a time when the political atmosphere is so divided. CBS News New York's Naveen Dhaliwal reports.
Former president Donald Trump gained ground all across the country in the 2024 election, including in our area. According to the CBS News Data Team, Democrats have been losing ground in the Bronx, Brooklyn, Manhattan and Queens since 2016. CBS News New York's Ali Bauman tried to find out what's behind this apparent shift to the right.
