Madoff May Plead Guilty

(NEWSER) - Bernard Madoff pleaded guilty this morning to all 11 felony charges against him, saying he was "sorry and ashamed" for his criminal acts. The judge accepted the plea and revoked Madoff's bail, bringing cheers from spectators in the courtroom. Madoff was escorted out in handcuffs and will remain in custody until his sentencing on June 16. He faces a maximum prison term of 150 years. More»

Ponzi master to plead guilty today, bail could be revoked

(NEWSER) - Bernie Madoff will head to court today to plead guilty to all 11 charges against him, and there’s every chance he won’t be going home afterward, the New York Times reports. The big question hanging over today’s hearing is whether the court will revoke Madoff’s bail. Once he pleads guilty, Madoff won’t be presumed innocent anymore, and his lawyers will have to make the case that he should go free until sentencing. More»

Irving Picard sues, again, for money

(NEWSER) - The court-appointed trustee seeking to recover billions of dollars lost by Bernie Madoff is suing for $30 million that he says the Madoff family invested in oil, gas, and tech, reports the AP . The suit filed by trustee Irving Picard says the investments were used as vehicles to funnel money out of Madoff's business, and comes as a follow-up to the lawsuit he filed in November seeking nearly $200 million from Madoff family members who he said lived lavishly while using the family business like a "piggy bank." More»

Former partner knows where it is, may cut deal

(NEWSER) - Bernie Madoff has a secret stash, and his partner in crime knows where it is. The Ponzi schemer has told fellow federal prisoners he funneled $9 billion to three people—“I think it was personal friends,” the source tells the New York Post —and he suspects Frank DiPascali is using his knowledge of the recipients to make a deal with prosecutors. More»

Ponzi schemer serving 150-year sentence becomes celeb in prison

(NEWSER) - Bernie Madoff isn't wasting time fretting over the lives he ruined and the fortunes he destroyed. Shortly after he arrived at a federal prison in North Carolina last summer, another inmate was pestering him about the people he had duped, and the Ponzi schemer lost his patience. "Fuck my victims,” he said, according to a New York magazine account based on interviews with two dozen other prisoners. "I carried them for twenty years, and now I’m doing 150 years." More»