Articles Archive


Bernard L. Madoff Arrested on Fraud Charges

The work day was almost over when the newswires reported that a former Nasdaq chairman was under arrest for a fraud whose price tag was almost beyond belief: Fifty billion dollars!


The Lipstick Building’s 17th Floor, Where Wealth Went to Vanish

Two floors below the trading floor of the respected wholesale brokerage firm Madoff had nurtured for almost 50 years was the mysterious money-management business at the heart of his fraud.


Madoff Investors Lost Wealth – and Trust

They were hedge fund managers and retired teachers, philanthropists and small-scale professionals. But they had one thing in common: They had trusted Bernie Madoff with everything.


SEC Acknowledges It Fumbled Warnings about Madoff

The nation’s top market regulator immediately looked into the massive Madoff scandal, and found a humiliating scandal closer to home.


Madoff’s Scheme Rippled Around the World

A week into the scandal, much about the Madoff scandal was still cloaked in mystery. But one thing was clear: it was history’s first truly global Ponzi scheme.


Profile: Madoff Defense Lawyer Ike Sorkin

Sorkin’s faith in the majesty of the law was tested by the vitriol he encountered after he took on the Madoff case. One email he received: “As one Jew to another, I deeply regret that the Sorkin family did not perish in the Nazi death camps.”


Profile: Madoff Trustee Irving H. Picard

As a veteran financial lawyer, Picard knew the federal bankruptcy code inside out, but his work as the trustee liquidating the Madoff estate would put him on a collision course with controversy.


Profile: SIPC’s Beleaguered CEO, Steve Harbeck

Nothing in this industry-financed organization’s 30-year history as a “safety net” for Wall Street retail investors had prepared it for the Madoff maelstrom.

How “Safe” IRAs were Caught in Madoff Fraud and Other Ponzi Schemes

The Madoff scandal exposed a gaping hole in the defenses that all Americans relied on to protect their retirement savings.


Madoff Sentenced to 150 Years for His Massive Swindle

In a majestic courtroom that was tense with tears and rage, a federal judge imposed a symbolic sentence on an utterly friendless defendant.


Profile: Mark Madoff, A Son Lost to Suicide

On the second anniversary of his father’s life-shattering confession, a Madoff son finds the scandal, finally, was just too much to bear.


Picower Deal Recovers $7.2 Billion for Madoff Claims

In a case rich in superlatives, here was another one: the largest individual settlement in the history of American jurisprudence — a game-changer for Madoff victims.


From Prison, Madoff Talks about Those Who ‘Had to Know’

Reflecting on his crimes, the con artist of the age wondered why his bankers didn’t catch him and shut him down.


Bankers Named Who Doubted Madoff

A new federal bankruptcy court filing on Thursday showed that three current members of JPMorgan Chase’s executive committee had discussed, as early as June 2007, the possibility that Bernard L. Madoff was running a Ponzi scheme — as, indeed, he was — but took no action to protect investors or alert regulators.

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