Ponzi scheme

Investigators recover billions for Madoff victims

Investigators recover billions for Madoff victims

Many of Bernard Madoff’s victims who thought they lost everything could get at least half their money back after the widow of a Florida philanthropist agreed Friday to return a staggering $7.2 billion that her husband reaped from the giant Ponzi scheme. Federal prosecutors reached the settlement with the estate of Jeffry Picower, a businessman […]

Bernie Madoff’s son dead in apparent suicide

Bernie Madoff’s son dead in apparent suicide

The eldest son of disgraced financier Bernard Madoff hanged himself by a dog leash in his Manhattan apartment on Saturday, the second anniversary of his father’s arrest in a multibillion-dollar Ponzi scheme that swindled thousands of investors of their life savings, law enforcement officials said. Mark Madoff, 46, was found hanging from a ceiling pipe […]