Investing, Ponzi Scheme | featured news

The lawyers of disgraced US financier Bernard Madoff contest a judge's decision to revoke his bail and send him to jail.

NEW YORK (Reuters) - Bernard Madoff, who cultivated a worldwide mystique as he churned out amazingly steady returns for his investors year after year, finally admitted it was all a lie, saying he had felt compelled to deliver "at any cost."

Some former customers of financier Bernard Madoff despise him for his fraud, but they are also angry with their government and a financial system they say robbed them of their savings.

NEW YORK (Reuters) - Bernard Madoff, accused mastermind of a $50 billion investment fraud, is expected to plead guilty to criminal charges next week, three months after his arrest shocked his customers worldwide.

Prosecutors have filed a motion indicating that Bernard Madoff may be ready to plead guilty to a sweeping financial fraud.

Besieged money manager Bernard Madoff avoided prison again Wednesday, when a judge ruled that he can remain on bail while  the government investigates the case.