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The Madoff Investment Scandal Wall Street money manager Bernard Madoff is sentenced to 150 years in prison for bilking investors in a massive Ponzi scheme. The fraud reverberated through the world of high finance and charitable foundations in the U.S. and abroad.
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The Madoff Investment Scandal

The case raised questions about why federal regulators didn't heed warning signs earlier.
Examining Bernie Madoff, 'The Wizard Of Lies'

Bernie Madoff leaving U.S. District Court in Manhattan after a bail hearing in New York, Monday, Jan. 5, 2009. The former executive chairman of NASDAQ was sentenced to 150 years in prison in 2009 for his role in a massive Ponzi scheme. Kathy Willens/AP Photo hide caption

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Kathy Willens/AP Photo

Examining Bernie Madoff, 'The Wizard Of Lies'

Fresh Air

New York Times financial writer Diana Henriques was the first journalist to interview Bernie Madoff after he was sent to prison. Henriques' new book, The Wizard of Lies, details how Madoff created the biggest Ponzi scheme in history after playing a prominent role in shaping modern markets.

Examining Bernie Madoff, 'The Wizard Of Lies'

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Madoff's Victims May Still Have More To Lose

Court-appointed trustee Irving Picard sued Bernard Madoff's son, Mark, and others connected to the Madoff firm in an effort to recoup some of the billions of dollars lost by investors in the fraud. But Picard is also seeking to recover money from investors, even if they lost money in the end.

Madoff's Victims May Still Have More To Lose

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Madoff Whistleblower: SEC Failed To Do The Math

Harry Markopolos spent nearly a decade on Bernard Madoff's trail. He says his efforts to alert securities regulators about Madoff's schemes were repeatedly ignored. In a new book, he details how the Securities and Exchange Commission still lacks the tools for the job.

Madoff Whistleblower: SEC Failed To Do The Math

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'Bag Lady Papers': Riches To Rags Via Madoff

Artist and editor Alexandra Penney had it all. Then she got a phone call that her savings were gone, lost in the Bernard Madoff scandal. Penney talks about her life since then, as chronicled in her memoir, The Bag Lady Papers.

'Bag Lady Papers': Riches To Rags Via Madoff

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Author Overcomes Money Fears In 'Bag Lady Papers'

Author Alexandra Penney says she lost all of her savings in Bernard Madoff's investment scheme. Donna Svennevik/ABC hide caption

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Donna Svennevik/ABC

Author Overcomes Money Fears In 'Bag Lady Papers'

Alexandra Penney's longtime nightmare of being broke and dependent on others for help almost overwhelmed her when Bernard Madoff was arrested and her life savings disappeared.

Author Overcomes Money Fears In 'Bag Lady Papers'

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Madoff's Auditor Denies He knew Of Ponzi Scheme

Bernard Madoff's longtime auditor pleaded guilty to securities fraud charges Tuesday, but said he did not know Madoff was running a Ponzi scheme. David Friehling's plea was part of a cooperation deal with prosecutors. He will be sentenced next year.

Madoff's Auditor Denies He knew Of Ponzi Scheme

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Madoff Heads To Jail, And The Books Head To Stores

Six months after Bernard Madoff pleaded guilty to running a multibillion-dollar Ponzi scheme, six books have already been published about the scandal. Four came out just last month. They cover much of the same ground — with some exceptions.

Madoff Heads To Jail, And The Books Head To Stores

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In Recordings, Madoff Offers Tips To Evade SEC

A new recording has surfaced from convicted swindler Bernard Madoff. The 2005 tape begins with, "Obviously, first of all, this conversation never took place." Authorities say Madoff was coaching a potential witness who was going to be talking to the Securities and Exchange Commission.

In Recordings, Madoff Offers Tips To Evade SEC

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Madoff Aide's Guilty Plea Could Net More Arrests

Frank DiPascali Jr., who played a key role in Bernard Madoff's huge Ponzi scheme, pleaded guilty to multiple counts of fraud. Sentencing isn't until May of next year, but the former chief financial officer says he will name names, which could mean less prison time and more arrests in the case.

Madoff Aide's Guilty Plea Could Net More Arrests

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Madoff Transferred To North Carolina Prison

Disgraced financier Bernard Madoff has begun serving his 150 year prison sentence at a federal prison in North Carolina. He was transferred there Tuesday. Madoff will spend his days in a medium security facility at the Butner Federal Correctional Complex about 45 miles northwest of Raleigh.

Madoff Transferred To North Carolina Prison

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Madoff Likely Won't Be Serving Time In 'Club Fed'

A complex point system will partly determine which prison Bernard Madoff, who was sentenced to 150 years, will go to. Because of his long sentence, it is likely that Madoff will never see the minimum security work camps known as "Club Fed."

Madoff Likely Won't Be Serving Time In 'Club Fed'

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What's Next In The Madoff Fraud Case?

Prosecutors in the Bernard Madoff case are turning their attention to Madoff's family — his wife and sons. Amir Efrati, who has been covering the case for The Wall Street Journal, talks with Renee Montagne about the next steps in the investigation.

What's Next In The Madoff Fraud Case?

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Madoff Received Maximum Sentence, 150 Years

Wall Street swindler Bernard Madoff's prison sentence of 150 years delivered a measure of relief to some of his victims. But others realize they are no better off this morning than they were the day before. And other Madoff victims worry that not enough is being done to prevent the next Madoff.

Madoff Received Maximum Sentence, 150 Years

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Madoff Victim: Financier's Apology Does Nothing

Disgraced financier Bernard Madoff was sentenced Monday to 150 years in prison. The verdict was sweet justice for many people who invested and lost money with Madoff. One of those investors, Miriam Siegman, says the fact Madoff will be in jail for 150 years doesn't mean there will be meaningful changes to the system.

Madoff Victim: Financier's Apology Does Nothing

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Judge Setences Madoff To 150 Years

Disgraced financier Bernard Madoff was sentenced Monday to 150 years for his monumental Ponzi scheme. The judge called Madoff's deeds "extraordinarily evil," and said he needed to send a symbolic message to those who might try to perpetuate a comparable fraud.

Judge Setences Madoff To 150 Years

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Madoff Sentenced For Multi-Billion-Dollar Fraud

Bernard Madoff was sentenced to 150 years in prison for a multi-billion dollar scheme to defraud investors. Before sentencing, a federal judge in New York City heard from some of the people Madoff bilked.

NPR's Mike Pesca Discusses The Madoff Sentence On Morning Edition

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Madoff To Find Out How Long He'll Be In Prison

The sentencing of disgraced financier Bernard Madoff, 71, is expected to draw a crowd Monday. Officials say hundreds of people are likely to show up. Prosecutors are seeking a 150-year prison sentence. The defense has asked for a 12-year term because of Madoff's age.

Madoff To Find Out How Long He'll Be In Prison

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Madoff Friend Reflects On Loss

Bernard Madoff will be sentenced Monday for his vast Ponzi scheme that robbed thousands of investors of their life savings. One of those investors is longtime supermodel Carmen Dell'Orefice, who was also a close friend of the Madoffs. Dell'Orefice, 78, tells NPR's Liane Hansen she's not sure Madoff's wife, Ruth, knew what her husband was doing.

Madoff Friend Reflects On Loss

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