US Won't Charge Ruth Madoff

(NEWSER) - Alec Baldwin throws water on the general celebration of Bernie Madoff's prison sentence, arguing that the 150-year term handed down to the fraudster Monday was a wasted opportunity. "I want to suggest, as I am confident others have, that Madoff be given a reduced sentence in exchange for answering every question that investigators ask regarding how he did what he did and what are his recommendations for how this might be detected and/or prevented in the future," the actor writes for the Huffington Post. 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»

Bankruptcy trustee says fraudster's wife received more than she'll admit to

(NEWSER) - The trustee in the Bernie Madoff case sued the swindler's wife today to demand the return of $44 million to bilked investors, Newsday reports. The complaint doesn't allege criminal activity by Ruth Madoff but says she directly received funds from her husband’s multi-billion-dollar Ponzi scheme. Ruth Madoff gave up all but $2.5 million of her assets in a forfeiture deal last month, but she's not protected from lawsuits. More»

Gives first prison interview, and he's looking a little buff

(NEWSER) - Prison life appears to be agreeing with Bernie Madoff. A lawyer who represents victims met with Madoff today and said he appears fit. "He looked pretty good and seems to be working out," said attorney Joseph Cotchett. "He looked a lot better than he has in some months since I've seen photographs of him." In the four-hour-plus interview, Madoff expressed surprise he got away with his Ponzi scheme so long, reports ABC News. More»