Ponzi Scheme | featured news

The U.S. Marshals Service on Thursday took possession of disgraced financier Bernard Madoff's $7 million Manhattan penthouse, an action that forced his wife to move elsewhere.

Authorities are pursuing charges against 10 more people in the Bernard Madoff financial scandal after the mastermind of one of the biggest financial frauds in history was sentenced to spend the rest of his days behind bars, The Associated Press has learned.

U.S. District Judge Denny Chin sentenced Bernard Madoff on Monday to 150 years in prison, the maximum sentence sought by prosecutors.

Live Blogging | Hearing for confessed Ponzi schemer is underway now in Manhattan.

Disgraced financier Bernard Madoff must forfeit $170 billion, a federal judge ordered Friday.

Bernard Madoff’s lawyer has told a judge scheduled to sentence the disgraced financier next week that 12 years in prison will be sufficient punishment.

Banco Santander, which funneled $3 billion in client funds to Bernard L. Madoff, agreed to pay $235 million to settle potential legal claims by a trustee of Madoff victims.

The sentencing of convicted Ponzi-scheme operator Bernard Madoff has been postponed about two weeks until June 29.

Swindler Bernard Madoff's family were enriched by millions from his firm, which also paid their country club memberships and salaries of boat captains, housekeepers and others who did not work for the company, according to new court documents.

Bernard Madoff's market-making business was sold at an auction on Monday to Castor Pollux Securities LLC for up to $25.5 million, a fraction of what it was worth previously, as part of an increasingly contentious global effort to recover money for the swindler's defrauded customers.