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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.''
Local leaders are calling for change after two teens died of apparent drownings at Rockaway Beach in Queens recently.
The 4th of July fireworks can make dogs and other pets anxious and afraid, so we have some expert advice on how to keep them calm.
A New York court said in a decision that Rudy Giuliani is disbarred effective immediately.
Manhattan prosecutors said they are not opposed to delaying Donald Trump's sentencing after the Supreme Court ruled that former presidents enjoy immunity for official acts.
Police have person of interest in custody in the sexual assault of a sunbather in Central Park. The person has not been charged yet in the Central Park case, but has an active warrant on an unrelated matter, the NYPD said.
Local leaders are calling for change after two teens died of apparent drownings at Rockaway Beach in Queens recently.
The 4th of July fireworks can make dogs and other pets anxious and afraid, so we have some expert advice on how to keep them calm.
Police have person of interest in custody in the sexual assault of a sunbather in Central Park. The person has not been charged yet in the Central Park case, but has an active warrant on an unrelated matter, the NYPD said.
Flights at Newark Airport had to be slowed Monday evening because of an air traffic controller shortage, according to the FAA.
A nonprofit recycling center in Brooklyn says it has seen a sharp increase in people who collect cans and bottles to make a living.
Connecticut had several new laws start on July 1, 2024, including the school age cut-off and surveillance cameras meant to catch drivers who blow by buses.
Severe thunderstorms swept through New York, New Jersey and Connecticut on Sunday, with the chance of an isolated tornado. See the latest weather maps and live radar.
A tractor-trailer accident on I-95 in Greenwich, CT had southbound lanes backed up for the morning commute.
Severe thunderstorms moved through New York and New Jersey on Wednesday evening, causing widespread power outages and other damage.
U.S. News & World Report released its 2024 college rankings Tuesday, and some Tri-State Area schools ranked among the best in the world.
Flights at Newark Airport had to be slowed Monday evening because of an air traffic controller shortage, according to the FAA.
With NJ Transit's fare hike kicking in on Monday, some riders are considering alternate ways of getting around.
Sunday was expected to be the busiest day of the summer travel season, but severe thunderstorms caused delays and cancelations.
Severe thunderstorms swept through New York, New Jersey and Connecticut on Sunday, with the chance of an isolated tornado. See the latest weather maps and live radar.
With a 15% fare hike for NJ Transit riders set to go into effect Monday, commuters protested Friday outside the agency's headquarters, saying they've been plagued with service delays and cancellations.
The 4th of July fireworks can make dogs and other pets anxious and afraid, so we have some expert advice on how to keep them calm.
Steven Schwally, the man accused of being intoxicated when he crashed into a nail salon on Long Island, killing four, appeared in court Monday.
Severe thunderstorms swept through New York, New Jersey and Connecticut on Sunday, with the chance of an isolated tornado. See the latest weather maps and live radar.
Long Island police said Steven Schwally, 64, was drunk and speeding when he crashed an SUV into a nail salon Friday, killing an off-duty NYPD officer and three other people.
At least four people were killed and nine injured when a driver crashed through the front of a nail salon on Long Island.
A New York court said in a decision that Rudy Giuliani is disbarred effective immediately.
Manhattan prosecutors said they are not opposed to delaying Donald Trump's sentencing after the Supreme Court ruled that former presidents enjoy immunity for official acts.
Connecticut had several new laws start on July 1, 2024, including the school age cut-off and surveillance cameras meant to catch drivers who blow by buses.
Former President Donald Trump is trying to overturn his recent felony conviction in the New York "hush money" criminal case.
The Supreme Court's landmark decision ruled that Trump is immune from prosecution for official acts he took while in office.
The New York City Virus Hunters are getting their hands dirty to find out which little birdies might be carrying a deadly disease in Central Park.
"We can serve payers very effectively from the footprint that remains," CEO Tim Wentworth says of the coming Walgreens closures.
The advisory issued by Dr. Vivek Murthy came as the U.S. grappled with another summer weekend marked by deadly mass shootings.
One bill being fast-tracked would make abortions free in New Jersey by eliminating co-pays.
A beloved Queens DJ, known for his selfless generosity, is himself in need of support as he seeks a kidney donor.
Spike Lee's "Do the Right Thing" celebrated its 35th birthday Sunday with a block party on Do The Right Thing Way in Bed-Stuy, Brooklyn.
Usher accepted the lifetime achievement award at the 2024 BET Awards, and Will Smith debuted a single as he continued his comeback from slapping Chris Rock at the Oscars two years ago.
His recently uncovered photographs, long thought lost, are the basis of the former Beatle's book, "1964: Eyes of the Storm," and an exhibition currently at the Brooklyn Museum.
From the moment she first began appearing at the side of John F. Kennedy Jr., Carolyn Bessette became one of the most photographed women in the world. Her personal style continues to have an impact 25 years following her death.
Mets infielder José Iglesias performed his song "OMG" live at Citi Field after the team's 7-2 win over the Houston Astros.
The Mets used an offensive explosion in the 10th inning to defeat the Nationals 9-7 on Monday and get back to .500.
The Mets' rally was all for naught as a five-run 11th inning lifted the Astros to a 10-5 win on Sunday.
The Yankees left Toronto with a split of their four-game series against the Blue Jays with an 8-1 win on Sunday.
Cameron Harper scored late in the second half to rally New York to a 2-2 draw with D.
Alex Bregman put Houston ahead with a two-run single in the eighth inning and the surging Astros rallied from five runs down for a 9-6 victory over the New York Mets.
A nonprofit recycling center in Brooklyn says it has seen a sharp increase in people who collect cans and bottles to make a living.
Queens residents who lost their homes in an apartment building fire six months ago say they are again searching for somewhere to live as their temporary housing agreements expire.
The New York City Virus Hunters are getting their hands dirty to find out which little birdies might be carrying a deadly disease in Central Park.
Lillian Wong of Queens is trying to solve the mystery of money being withdrawn from her dead son's bank account.
A commercial stretch along 86th Street in Bensonhurst has become a hotbed of illegal vending, according to Councilwoman Susan Zhuang.
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."
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.
After two teenagers died of apparent drownings at at Rockaway Beach, officials want some safety concerns met. CBS New York's John Dias reports.
Police have person of interest in custody in the sexual assault of a sunbather in Central Park. The person has not been charged yet in the Central Park case, but has an active warrant on an unrelated matter, the NYPD said. CBS New York's Lisa Rozner reports.
Pets can be scared by fireworks and end up running away or getting lost. Here are some tips pet owners should know to keep them calm.
Flights at Newark Airport had to be slowed Monday evening because of an air traffic controller shortage, according to the FAA.
Connecticut had several new laws start on July 1, 2024, including the age kids begin school and cameras meant to catch drivers who blow by buses.