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The trial follows the 2008 collapse of Madoff's private investment business, which cost clients nearly $20 billion. A court-appointed trustee has recovered much of the money by forcing those customers who received big payouts from Madoff to return the funds.
Prosecutor Matthew Schwartz introduced the government's case Wednesday, saying the defendants "helped perpetuate Madoff's elaborate fiction.'' The Manhattan federal court trial is expected to last five months.
Five former employees of imprisoned Ponzi scheme operator Bernard Madoff were introduced to 200 prospective jurors Tuesday, as jury selection began in their fraud trial.
Best known for his buzzer-beating shot against Clemson in the 1990 NCAA Tournament, Tate was found guilty on four counts of federal wire fraud.
Paul Konigsberg was charged with conspiracy to falsify records, conspiracy to commit fraud, falsifying records of a broker-dealer, falsifying record of an investment adviser and falsifying statements.
The government says that over the course of Madoff's multi-decade, multibillion-dollar fraud, a number of his employees and customers were dating or having affairs.
If convicted, Brian Callahan and Adam J. Manson each face a maximum sentence of 20 years in prison on each of the securities fraud, wire fraud and conspiracy to commit wire fraud counts.
The home that belonged to Bernie Madoff's brother, Peter, is on the market after being seized by the U.S. Marshals Service.
The 1935 mansion has five bedrooms, five bathrooms, a tennis court, swimming pool and pool house.
The Nassau County District Attorney's office is now reviewing the accusations against a Long Island caterer after a waterfront venue was shut down without notice.
The appeals court said the Securities and Exchange Commission's actions and "regrettable inaction'' are shielded by rules protecting government employees from lawsuits when they carry out a discretionary function or duty.
Gershon Barkany was arrested by FBI agents on March 28. He's accused of spending the investors' money for his personal benefit.
The prison-bound brother of convicted Ponzi scheme operator Bernie Madoff attended his granddaughter's bat mitzvah in a space described as "posh" this weekend, after a judge delayed his lockup date for the occasion.
One month before beginning his 10-year presence sentence, Peter Madoff – the brother of convicted Ponzi scheme operator Bernie Madoff – has sold his posh Park Avenue home, according to a published report.
Peter Madoff maintained that he never knew his brother was orchestrating the largest Ponzi scheme in history, but victims speaking out in court Thursday – and even the judge herself -- don't believe him.
The Ponzi scheme was run through Maywood Captial, a real estate investment company. The firm was previously based in Paramus, N.J. before moving to Manhattan.
An enhanced indictment now indicates the largest-ever Ponzi scheme actually went on for nearly four decades, starting in the early 1970s.
The decades-long fraud cost investors about $17.3 billion, Picard estimated. Since becoming the trustee for victims swindled in the scheme, Picard said he has recovered more than $9 billion.
Peter Madoff, the younger brother of convicted Ponzi schemer Bernie Madoff, pleaded guilty Friday to charges he doctored documents that helped conceal a fraud that wiped out thousands of investors.
Peter Madoff, the former chief compliance officer at the private investment arm of Bernard Madoff's business, has agreed to serve a decade in prison, they said.
If you were a victim of Bernard Madoff's massive Ponzi scheme, there is some you might want to hear.
It will finally be payback for clients of Ezra Merkin, a high-powered money manager who invested in Madoff's multi-million dollar Ponzi scheme.
Hundreds of Bronx residents say they're the victims of a multi-million dollar Ponzi scheme run by the man they trusted to prepare their taxes.
Victims of a Long Island ponzi-schemer said that they have already paid enough, some of them were bilked out of hundreds of thousands of dollars by Nick Cosmo. Now Cosmo's victims could be on the hook for even more money.
Four associates of a New York businessman convicted in a $400 million Ponzi scheme were arrested early Wednesday on charges that they pocketed nearly $38 million in commissions for their efforts in advancing the fraud, federal prosecutors said.
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.
The New York Giants are releasing quarterback Daniel Jones days after announcing Tommy DeVito will take over as the team's starter, owner John Mara says.
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.
Trump's sentencing in the "hush money" case has been delayed by a New York judge.
Ramon Rivera, the man accused of killing three people in a stabbing rampage in New York City, is not appearing in court Friday because of a mental health evaluation.
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.
Ramon Rivera, the man accused of killing three people in a stabbing rampage in New York City, is not appearing in court Friday because of a mental health evaluation.
A Red Alert is in effect this morning as snow triggers winter weather alerts in the Tri-State Area.
CBS News New York's Dick Brennan went to JFK, LaGuardia and Newark Airport to find out, is air travel really getting worse?
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.
A Red Alert is in effect this morning as snow triggers winter weather alerts in the Tri-State Area.
Jodi Rell, who became Connecticut's second female governor when John Rowland resigned in a corruption scandal, has died at 78.
The weather is shifting and bringing much-needed rain to the Tri-State Area. There may even be snow in parts of New York.
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.
A Red Alert is in effect this morning as snow triggers winter weather alerts in the Tri-State Area.
CBS News New York's Dick Brennan went to JFK, LaGuardia and Newark Airport to find out, is air travel really getting worse?
A Woodbridge, New Jersey homeowner was arrested Thursday after investigators say he started a fire that damaged six homes, including his own.
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.
A Red Alert is in effect this morning as snow triggers winter weather alerts in the Tri-State Area.
A plan to regionalize some New York public school services has set off alarm bells among Long Island parents and educators.
The iconic Stella Ristorante in Floral Park, Long Island will close on Dec. 31 after 64 years in business.
Trump's sentencing in the "hush money" case has been delayed by a New York judge.
President-elect Donald Trump made the announcement Thursday evening after Matt Gaetz withdrew himself from consideration.
The suit claims McMahon and others at the WWE were aware of misconduct decades ago and negligent in failing to prevent it.
A plan to regionalize some New York public school services has set off alarm bells among Long Island parents and educators.
President-elect Donald Trump announced Gaetz as his nominee to be attorney general last week.
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.
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.
Chris Stapleton took home four Country Music Association Awards and hardly left the stage on Wednesday night, while an absent Morgan Wallen won the night's biggest prize, entertainer of the year.
The leader of a New York City church where pop star Sabrina Carpenter filmed scenes for a music video has been stripped of his duties.
Sean "Diddy" Combs has tried to reach out to prospective witnesses and sway public opinion from jail in NYC to influence potential jurors in his sex trafficking trial, prosecutors say.
Betty White will be honored with a stamp in 2025, the U.S. Postal Service announced on Friday.
Six Flags announced it shut down the Kingda Ka and Green Lantern roller coasters to make way for two new rides including The Flash coaster.
The New York Giants are releasing quarterback Daniel Jones days after announcing Tommy DeVito will take over as the team's starter, owner John Mara says.
Connor Zary scored midway through the third period to give the Calgary Flames a win over the New York Rangers on Thursday night.
Lucas Raymond scored with 51 seconds remaining and the Detroit Red Wings beat the New York Islanders on Thursday night.
The New Jersey Devils downed the Carolina Hurricanes on Thursday night.
Yankees outfielder Aaron Judge was a unanimous pick to win his second American League Most Valuable Player Award in three seasons on Thursday.
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.
Families in Central Harlem will soon settle into their new homes at Marcus Garvey Village, which also brings free gathering spaces to the community and an LGBTQ center.
The Hispanic Society's new exhibit traces how different cultures influenced the women of Spain as they found their own voices throughout history.
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."
MTA Chair Janno Lieber spoke out after the Federal Highway Administration gave the green light to congestion pricing, setting the stage for it to start on Jan. 5.
The MTA announced the Federal Highway Administration has given congestion pricing the green light, clearing the way for it to start on Jan. 5.
The first major snowstorm of the season is making its presence felt across the region, bringing heavy snow, power outages and school closures. Hundreds were left without power, including a community already reeling from weeks of wildfires. CBS News New York's Natalie Duddridge reports.
Tony Sadiku has the Tri-State Area's updated Friday afternoon forecast on CBS News New York.
President-elect Donald Trump's sentencing in his criminal "hush money" trial has been postponed. CBS News New York's Tim McNicholas reports.
