Madoff to Plead Guilty on 11 Counts, Faces 150 Years

(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»

(NEWSER) - Now that Bernie Madoff is guilty, it’s time to talk sentencing. CNBC hosted a contest to come up with the most inventive one for the disgraced financier, and the winner is: working for the SEC, "catching people just like him." But that doesn’t mean the other finalists— which include displaying Bernie for cash to pay back investors, and trading him to Palestine in exchange for Israeli soldiers—are any less worthy. Here are some more: More»

(AP) - Disgraced money manager Bernard Madoff emerged from seclusion today to confront a potential conflict of interest in his massive fraud case: a $900,000 investment by his lawyer's sons. Prosecutors asked the judge to rule on the conflict to clear the way for another highly anticipated proceeding Thursday, when Madoff is expected to avoid going to trial by pleading guilty in perhaps the largest securities fraud case in history. More»

Ohio man accused of running $16.8m Ponzi scheme

(NEWSER) - We've had the Bernie Madoff of campaign treasurers , so now meet the Amish Madoff. A 77-year-old man in Ohio is accused of scamming thousands of investors in 29 states, mostly his fellow Amish, out of $16.8 million. Prosecutors say Monroe Beachy ran a Ponzi scheme for decades, telling investors he would invest in safe securities, but instead putting their money in riskier ones and sending them false account statements, ABC reports. Beachy, who declared bankruptcy earlier this year, faces up to 20 years in jail if convicted. More»

Accused swindler may have hid money under attorney's name

(NEWSER) - Bernard Madoff's criminal defense lawyer has received several death threats amid more than a dozen emails of a "cursing and screaming" nature, sources tell ABC. "I deeply regret that the Sorkin family did not perish in the Nazi death camps," said one angry email sent to Ira Lee Sorkin yesterday. More»