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Federal authorities said prominent Massachusetts businessman and philanthropist Carl Shapiro has agreed to forfeit the funds that will be distributed to investors who lost money in jailed financier Bernard Madoff's fraud.
The lawsuit was filed in the U.S. Bankruptcy Court for the Southern District of New York.
Brooklyn Assemblyman William Colton said the state is owed $14.4 billion in delinquent taxes and wants Albany to make a greater effort to collect the money.
Picard said his firm is seeking about $69 million in funds deposited by the company's customers and stolen in the 72-year-old's vast Ponzi scheme.
The lawsuit alleges 23 counts of financial fraud and misconduct. It seeks to recover at least $2 billion to be distributed to Madoff victims.
Bongiorno and another former Madoff aide were arrested last week on conspiracy, securities fraud and other charges arising from the multibillion-dollar Ponzi scheme. They could each face decades in prison if convicted.
A half dozen employees have been charged since FBI agents showed up at Madoff's penthouse apartment in Manhattan on Dec. 11, 2008.
Two longtime back office employees of Bernard Madoff were arrested Thursday on charges that they helped the disgraced financier dupe investors for decades by making fictitious investments.
The last of financial scammer Bernard Madoff's possessions from his Manhattan penthouse and Montauk beach house sold in an auction yesterday in Midtown.
A 10.5-carat diamond engagement ring once worn by Ruth Madoff -- worth at least $300,000 -- was auctioned off Saturday to an anonymous bidder for $550,000.
Federal officials had seized the home, along with Madoff's other properties and assets in New York and elsewhere. Proceeds from the sales of those assets are expected to benefit the victims of Madoff's financial scheme.
In his most expansive comments on the subject, the Mets owner talks about being ripped off by Ponzi schemer Bernard Madoff.
Lawyers for three alleged cohorts of disgraced financier Bernard Madoff say the case is mired in a mountain of potential evidence.
The owners of the Mets should be held accountable for letting their workers put more than $16 million in 401(k) assets into accounts controlled by Bernard Madoff, a widow said in a lawsuit.
Charles Dolan, who founded some of the most prominent U.S. media companies including New York-based Cablevision and HBO, has died at age 98, according to a report.
The Knicks extended their season-long winning streak to seven games in a win over the Wizards on Saturday night.
Brayden Point and Nikita Kucherov each had a goal and two assists to lead the Lightning past the reeling Rangers on Saturday.
Casey Cizikas and Anders Lee each scored twice and the New York Islanders beat the Pittsburgh Penguins on Saturday night.
Jack Roslovic scored twice as the Carolina Hurricanes beat the New Jersey Devils on Saturday night.
Charles Dolan, who founded some of the most prominent U.S. media companies including New York-based Cablevision and HBO, has died at age 98, according to a report.
Many Broadway fans were left disappointed after the revival of "Gypsy" canceled nearly an entire week of performances after actors say a cold spread among the cast.
Wet weather has moved into the Tri-State Area and will stick around through the end of the year, coming in several rounds.
Participants at the annual Good Riddance Day event in Times Square had a chance to wipe their slates clean for the new year Saturday.
One pedestrian was killed and two others were injured in Queens when a crash sent a taxi careening onto a sidewalk.
Wet weather has moved into the Tri-State Area and will stick around through the end of the year, coming in several rounds.
A very similar setup to Thursday will be underway Friday, with highs in the mid to upper 30s under mostly sunny skies.
The National Weather Service says snow depth in Central Park was 1 inch at 7 a.m. Christmas morning. That's the minimum amount of snow needed to make it officially a White Christmas.
Some light snow is moving through NYC and the surrounding New York and New Jersey area today, just in time for Christmas Eve.
New York City congestion pricing cleared late legal challenges in Manhattan and Rockland County, keeping it on track to start Jan. 5, 2025.
Wet weather has moved into the Tri-State Area and will stick around through the end of the year, coming in several rounds.
Former U.S. Sen. Bob Menendez is asking a federal judge to delay his end-of-January sentencing on bribery charges.
The sinkhole that cratered a section of I-80 in New Jersey was caused by an abandoned mineshaft collapsing underneath the highway, state transportation officials say.
Authorities are distributing bottled water in Edison, N.J. after a water main break left thousands of residents without any to drink, bathe or cook with.
With congestion pricing set to start on Jan. 5, the MTA now says it has the right to hike the prices even more on gridlock alert days.
Charles Dolan, who founded some of the most prominent U.S. media companies including New York-based Cablevision and HBO, has died at age 98, according to a report.
In the hours ahead of Friday's Mega Millions drawing, the jackpot grew to $1.22 billion.
With congestion pricing set to start on Jan. 5, the MTA now says it has the right to hike the prices even more on gridlock alert days.
A very similar setup to Thursday will be underway Friday, with highs in the mid to upper 30s under mostly sunny skies.
A Long Island father and son are having a Christmas like no other. They've just moved from a homeless shelter into their own apartment, thanks to Catholic Charities.
With congestion pricing set to start on Jan. 5, the MTA now says it has the right to hike the prices even more on gridlock alert days.
Former President Bill Clinton remains in "good spirits," a spokesman said.
New York City congestion pricing cleared late legal challenges in Manhattan and Rockland County, keeping it on track to start Jan. 5, 2025.
President Biden is granting clemency to 37 of the 40 federal inmates facing death sentences. Their sentences will be commuted to life in prison without the possibility of parole.
A report by the House Ethics Committee found former Rep. Matt Gaetz paid multiple women, including a 17-year-old girl, for sex.
Many Broadway fans were left disappointed after the revival of "Gypsy" canceled nearly an entire week of performances after actors say a cold spread among the cast.
Emma and Liam top the list of New Yorkers' favorite baby names for another year, the NYC Department of Health says.
A new course at Albert Einstein College of Medicine in the Bronx aims to help medical students understand the community they serve.
A woman who lost her jaw after being caught in a crossfire in Ukraine can smile again thanks to transformative surgery in New York.
Some 13 oz. bags of Lay's Classic Potato Chips may contain an undeclared allergen, according to the snack company.
Many Broadway fans were left disappointed after the revival of "Gypsy" canceled nearly an entire week of performances after actors say a cold spread among the cast.
Olivia Hussey won a Golden Globe for best new actress for her part as Juliet in Franco Zeffirelli's 1968 adaptation of William Shakespeare's "Romeo and Juliet."
A judge ruled that a woman who says she was raped by Jay-Z and Sean "Diddy" Combs when she was 13 can proceed anonymously, for now, in her lawsuit against the rap moguls.
Just shy of his 70th birthday, Denzel Washington has a new line to add to an already impressive résumé.
Sean "Diddy" Combs was back in federal court in Lower Manhattan on Wednesday for a pretrial hearing.
The Knicks extended their season-long winning streak to seven games in a win over the Wizards on Saturday night.
Brayden Point and Nikita Kucherov each had a goal and two assists to lead the Lightning past the reeling Rangers on Saturday.
Casey Cizikas and Anders Lee each scored twice and the New York Islanders beat the Pittsburgh Penguins on Saturday night.
Jack Roslovic scored twice as the Carolina Hurricanes beat the New Jersey Devils on Saturday night.
NBA star Victor Wembanyama played chess with fans in Washington Square Park while the San Antonio Spurs were in town to play the Knicks and Nets.
A young man from Mauritania receives help settling into the city as he serves as a youth ambassador for others.
In the hours ahead of Friday's Mega Millions drawing, the jackpot grew to $1.22 billion.
Nine people died in the crush of the crowd outside a celebrity basketball game at City College on Dec. 28. 1991.
Volunteers delivered 14,000 meals to older New Yorkers on Christmas Day.
People living in one Harlem apartment building say they are freezing as they await a new boiler system.
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."
Marcia Kramer and Dick Brennan discuss 2024's biggest headlines and what 2025 may hold on this episode of "The Point with Marcia Kramer."
Lagging vaccination rates led to a record-number of cases and deaths from several viruses in 2024, and there proved to be extra benefits from weight-loss drugs. CBS News New York's Michael George reports.
The plane was traveling from Thailand when the disaster happened during landing. CBS News New York's Bradley Blackburn reports.
The cause of the fire overnight on Long Island is under investigation. CBS News New York's Zinnia Maldonado reports.
Tony Sadiku has the Tri-State Area's updated Sunday forecast on CBS News New York.
