Bernard Madoff
Bernard Madoff was arrested in December 2008 for running a self-confessed "giant Ponzi scheme" that he perpetrated on advisory clients of his firm.
Madoff told two high level employees that his business was a fraud. He told these employees that he was "finished," that he had "absolutely nothing," that "it's all just one big lie," and that it was "basically, a giant Ponzi scheme." Madoff had for years been paying returns to certain investors out of the principal received from other, different investors. Madoff estimated the losses from this fraud were at least $50 billion.
Madoff founded the firm in 1960 and has been a prominent member of the securities industry throughout his career. Madoff served as vice chairman of the NASD, a member of its board of governors, and chairman of its New York region. He was also a member of NASDAQ Stock Market's board of governors and its executive committee and served as chairman of its trading committee.
View Older Stories View More Recent Stories
-
Special Report: U.S. company makes a fortune selling bodies donated to science
-
Special Report: In the market for human bodies, almost anyone can sell the dead
-
An Insider’s Look at Financial Crime: Former U.S. Attorney Preet Bharara, and “Madoff’ Author Diana B. Henriques, Headline NICE Actimize’s 2017 ENGAGE Client Forum
-
IWIRC Names 2017 "Rising Star" Award Finalist
-
Brown Rudnick Secures Major Victory for Fairfield Sentry and Kenneth Krys Stemming from Madoff Fraud
-
Meeschaert Group Appointed Special Advisor by the Luxalpha SICAV
-
U.S. expects Madoff $4 billion fund payout to start this year
-
Forbes Unveils Special Centennial Magazine Issue, Featuring World’s 100 Greatest Living Business Minds and Their Words of Wisdom for the Next 100 Years
-
Better call Netflix? Streaming platforms poaching top TV talent
-
Iron Cove Partners Announces Launch of Revolutionary Hedge Fund Manuscript Management & Professional Liability Insurance Policy with Lloyd's of London
-
Madoff trustee recoups $687 million in biggest settlement since 2011
-
Madoff Trustee Reaches Recovery Agreement with Thema International; Settlement Delivers Immediate Benefit to Customer Fund of Approximately $687 Million
-
Television gets its own festival in New York's Tribeca
-
Tom Ajamie to Appear at Chautauqua Women's Club on August 5, 2017
-
DonaldTrumpHSA.com is Launched to Prosper with Obamacare Repeal
-
Artprice: Reaction to the Article in Countrepoint: A Historic Attack on the Art Market!
-
Stradley Ronon Expands New York Office With Hiring of Bankruptcy Attorney Deborah Reperowitz
-
Madoff settlements reach $12 billion with new accords
-
Madoff Trustee Reaches Recovery Agreements with Offshore Funds in BVI and Bermuda; Settlements with Lagoon and Thema Funds Deliver Immediate Benefit to Customer Fund of Approximately $370 Million
-
Madoff Trustee Announces Recovery of More Than $23 Million in Assets from Settlement with the Estates of Madoff Sons
-
Madoff sons' estates in $23 million settlement over Ponzi scheme
-
Madoff fund moves closer to payouts after criticism of delays
-
Cuomo initiative to protect New York tenants wins court backing
-
UMD Certificate Program to Tackle White-Collar Crime
-
Madoff trustee defeats appeal over payouts
-
Otterbourg Expands Its Bankruptcy and Finance Practices with the Hiring of Keith Costa and Michael Wenger
-
Scores of Hollywood Celebrities Including Stars from Beverly Hills 90210, CSI: NY, Dancing with the Stars, Real Housewives of Orange County, General Hospital, Major Crimes, Sex and the City, Las Vegas
-
Thomas Girardi Honored at the Library of Congress "Drawing Justice" Dedicated to Him
-
U.S. chief justice taps New York judge to handle Puerto Rico bankruptcy
-
JPMorgan beats Madoff customers' appeal
-
Cybersecurity Incident Data Shows Need for Customized, Enterprisewide Plans to Combat Network Intrusions
-
SEC's foreign corruption unit chief to leave by month's end
-
Jim Hitt Explains How Self-Directed IRA Owners Can Spot Ponzi Schemes and Avoid Trouble
-
RenovoRx Announces FDA Clearance for Expanded Labeling
-
Partner at New York hedge fund jumped to his death: police
-
Defiant U.S. prosecutor fired by Trump administration
-
Sessions asks 46 Obama-era U.S. attorneys to resign
-
SEC's acting chair scales back enforcement unit's subpoena powers
-
Exclusive: Big U.S. banks to push for easing of money laundering rules
-
ABC News and Time Inc.’s PEOPLE Team up for New Series, “PEOPLE ICONS,” Hosted by “Good Morning America” Co-Anchor Lara Spencer
-
Eighth Pro Rata Interim Distribution Of Recovered Funds To Madoff Claims Holders Commences; Totals Approximately $252 Million
-
Madoff victims' recovery tops $9.7 billion with new payout
-
Eighth Pro Rata Interim Distribution of Recovered Funds to Madoff Claims Holders Commences; Totals Approximately $252 Million
-
Madoff trustee can pursue most claims in Merkin lawsuit
-
McGlinchey Stafford Member Deborah A. Reperowitz Elected President of Turnaround Management Association's New York Chapter
-
Madoff victims cannot sidestep $7.2 billion settlement: U.S. judge
-
Audible Releases Ponzi Supernova, an Original Series Shedding New Light on Bernie Madoff and the Biggest Ponzi Scheme in History
-
Celebrity Homes: Zsa Zsa Gabor's Beautiful Bel Air Mansion
-
Madoff Trustee Requests Allocation of $342 Million to Customer Fund and Court Approval to Immediately Distribute Approximately $252 Million to BLMIS Customers with Allowed Claims
-
Audible Announces New Original Program with Martin Sheen

