Articles on Madoff

Veteran reporter Diana B. Henriques has been on the front lines of the Bernie Madoff scandal from the day it began, capping her coverage with her exclusive, headline-making prison interview with Madoff in early 2011. With her colleagues at The New York Times, she worked on more than 100 articles about the world-circling Ponzi scheme. This sampler begins with the scandal’s opening thunderclap — the stunning arrest of a Wall Street statesman on December 11, 2008:


Broader Pool of Madoff Victims to Benefit From Fund

The largest category of victims in the vast Ponzi scheme run by Bernard L. Madoff — those who lost cash through accounts with various middleman funds — will be first in line for compensation from a $2.35 billion fund collected by the Justice Department.


The Lasting Shadow of Bernie Madoff

“I made the tragic mistake of trying to change the way money was managed and was successful at the start, but lost my way after a while and refused to admit that I failed.”
— Bernard L. Madoff, in an e-mail on Oct. 11, 2011


Former Madoff Trader to Plead Guilty

A former trader at Bernard L. Madoff Investment Securities is expected to plead guilty to participating in an investment fraud beginning in the early 1970s, two decades earlier than Mr. Madoff claims to have started his Ponzi scheme.


U.S. Judge Bars a Suit for Victims of Madoff

The judge ruled that the trustee, Irving H. Picard, did not have the legal right to pursue $20 billion in combined damage claims against JPMorgan Chase & Company and UBS.


Madoffs Aim to Write Their Own Future

“Everything that I think about the victims — it’s hard to face, because there’s nothing I can do about any of it,” Ruth Madoff said in an interview.


Ruth Madoff Says Couple Tried Suicide in 2008

Bernard Madoff’s wife said she and her husband tried to kill themselves just after his Ponzi scheme was exposed.


Court Rejects Move to Include Profits in Madoff Returns

A federal appeals court has approved the method being used to calculate the losses incurred by the victims of Bernard L. Madoff’s global Ponzi scheme, saying the approach used by the trustee in the case is “legally sound in light of the circumstances of this case and the relevant statutory language.”


Judge’s Ruling in Madoff Case Could Reduce Money for Victims

The ruling could pare billions of dollars from the sum that may ultimately be recovered for victims of Bernard L. Madoff’s Ponzi scheme.


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.


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.


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.


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.


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.


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.


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.


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: 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.”


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.


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 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.


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.


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!