Bernard Madoff

Imprisoned money manager Bernard Madoff is encouraging those investigating his massive Ponzi scheme to keep going after banks he alleges were complicit in the fraud. Madoff, who is serving a 150-year sentence for defrauding investors out of billions of dollars, wrote an email to Fox Business Network reiterating what he has said before: The big banks he dealt with had to be aware of the scheme. "The banks had to know what I was doing regarding the fraud," he wrote. That echoed what Madoff told the New York Times during an interview from prison in 2011.

Investors who lost big when Bernard Madoff's Ponzi scheme unraveled cannot sue federal regulators, despite the government's “regrettable inaction,” a federal appeals court ruled. Madoff victims had sued, arguing that the Securities and Exchange Commission was negligent for failing to uncover the Ponzi scheme even though the regulator received multiple complaints over the years. On Wednesday in New York, the U.S. Court of Appeals for the Second Circuit dismissed those claims, agreeing with a district court that the SEC's actions or inaction are protected under the law. Madoff is currently serving a 150-year prison sentence for his multibillion-dollar Ponzi scheme that came to light in December 2008.

NEW YORK -- He may be stuck in a federal prison for the rest of his life, but Bernard Madoff is nonetheless taking the time to muse on Wall Street topics of the day. CNBC posted on its website a Dec. 24 email Madoff sent the financial news network as well as attorneys and academics who have been communicating with the notorious Ponzi scheme mastermind. In the email, Madoff offered his thoughts on a range of issues -- including the stock market's structure, hedge funds and insider trading.

Imprisoned money manager Bernard Madoff is encouraging those investigating his massive Ponzi scheme to keep going after banks he alleges were complicit in the fraud. Madoff, who is serving a 150-year sentence for defrauding investors out of billions of dollars, wrote an email to Fox Business Network reiterating what he has said before: The big banks he dealt with had to be aware of the scheme. "The banks had to know what I was doing regarding the fraud," he wrote. That echoed what Madoff told the New York Times during an interview from prison in 2011.

NEW YORK — More checks are in the mail for financier Bernard Madoff's victims, nearly four years after his epic Ponzi scheme collapsed. Irving Picard, the trustee overseeing the liquidation of Madoff's firm, mailed checks worth nearly $2.5 billion Wednesday. The distribution satisfies about half of the allowed claims filed by Madoff investors, Picard's office announced Thursday. The average payment: slightly more than $2 million. The trustee's office says it has now distributed a total of $3.6 billion to Madoff victims.

Bernard Madoff won't seek to attend his son's funeral, the imprisoned Ponzi schemer's lawyer said Monday. Mark Madoff, 46, committed suicide Saturday at his home in Manhattan on the second anniversary of his father's arrest. Authorities said he hanged himself with a dog leash. The elder Madoff won't go to the funeral "out of consideration for his daughter-in-law and his grandchildren," said his lawyer, Ira Sorkin. Bernard Madoff instead will be "conducting a private service on his own" at the Butner Federal Correctional Complex in North Carolina, where he is serving a 150-year sentence for perpetrating what is thought to be the largest Ponzi scheme in U.S. history.

New York medical examiners Sunday ruled the death of Bernard Madoff's elder son a suicide, one day after his body was found hanging in his Manhattan apartment. Mark Madoff, 46, hanged himself early Saturday with a dog leash in his living room. Madoff took his life on the second anniversary of his father's arrest in the largest Ponzi scheme in U.S. history. An autopsy Sunday revealed the cause of death. "It is suicide by hanging," medical examiner's office spokeswoman Ellen Borakove said.

NEW YORK - The brother of imprisoned financier Bernard Madoff was sentenced to 10 years in prison for crimes committed in the shadow of his notorious sibling by a judge who said she disbelieved his claims that he did not know about the epic fraud. Peter Madoff, 67, agreed to serve the maximum sentence allowable to the charges of conspiracy and falsifying the books and records of an investment advisor that he pleaded guilty to in June. U.S. District Judge Laura Taylor Swain urged him to tell the truth even after he reports to prison Feb. 6 about what he knows about the multi-decade fraud that cost thousands of investors their original $20 billion investment.

Actor John Malkovich is seeking to recover $2.3 million from an account he had with the securities firm of Bernard Madoff, who conducted the biggest Ponzi scheme in U.S. history. Irving Picard, the trustee liquidating Madoff's firm, in August approved a claim for $670,000 for the actor's pension plan and trust, more than $1.5 million short of the value of the securities in Malkovich's account listed on his November 2008 final statement, attorneys for the actor said in a filing Thursday in U.S. Bankruptcy Court in New York.

Stanley Chais, the Beverly Hills money manager whose clients lost hundreds of millions of dollars in the notorious Wall Street investment scam run by Bernard L. Madoff, died Sunday in New York. He was 84. Chais, who was facing a lawsuit by the Securities and Exchange Commission and was under criminal investigation by federal prosecutors in New York, died at an undisclosed location in Manhattan, said Ellen Borakove, spokeswoman for the New York City chief medical examiner. No cause was given, but Chais had been suffering from a rare blood disease.

How does an author of seriously literary fiction discover one of his books was owned by Bernie Madoff, the investor who defrauded his clients of billions of dollars? He sees it listed in an auction on EBay. That's how Rick Moody came to know that Madoff's library included his novel "Purple America . " Parts of the Madoff library collection is appearing piecemeal on eBay from a seller who won the books (Lots 750, 751 and 752) in a U.S. Marshall's auction of some of Madoff's Florida possessions.

NEW YORK -- He may be stuck in a federal prison for the rest of his life, but Bernard Madoff is nonetheless taking the time to muse on Wall Street topics of the day. CNBC posted on its website a Dec. 24 email Madoff sent the financial news network as well as attorneys and academics who have been communicating with the notorious Ponzi scheme mastermind. In the email, Madoff offered his thoughts on a range of issues -- including the stock market's structure, hedge funds and insider trading.

NEW YORK - The brother of imprisoned financier Bernard Madoff was sentenced to 10 years in prison for crimes committed in the shadow of his notorious sibling by a judge who said she disbelieved his claims that he did not know about the epic fraud. Peter Madoff, 67, agreed to serve the maximum sentence allowable to the charges of conspiracy and falsifying the books and records of an investment advisor that he pleaded guilty to in June. U.S. District Judge Laura Taylor Swain urged him to tell the truth even after he reports to prison Feb. 6 about what he knows about the multi-decade fraud that cost thousands of investors their original $20 billion investment.

A Bank of New York Mellon subsidiary will pay $210 million to settle claims it concealed red flags showing  Bernard Madoff was a fraud. Due diligence by the unit, Ivy Asset Management, revealed discrepancies in Madoff's stated investment strategy, according to a statement by New York Atty. Gen. Eric Schneiderman, who announced the settlement Tuesday. While Ivy steered clients to invest in Madoff, collecting fees for itself, some at the firm had reservations about Madoff, the attorney general said.

NEW YORK — More checks are in the mail for financier Bernard Madoff's victims, nearly four years after his epic Ponzi scheme collapsed. Irving Picard, the trustee overseeing the liquidation of Madoff's firm, mailed checks worth nearly $2.5 billion Wednesday. The distribution satisfies about half of the allowed claims filed by Madoff investors, Picard's office announced Thursday. The average payment: slightly more than $2 million. The trustee's office says it has now distributed a total of $3.6 billion to Madoff victims.

Bernard Madoff's younger brother Peter pleaded  guilty in federal court in Manhattan, the first of the swindler's kin to face charges in history's largest Ponzi scheme. Peter Madoff, who for years worked as the chief compliance officer and senior managing director for Bernard L. Madoff Investment Securities, agreed to a deal with prosecutors that calls for a prison term of 10 years, according to court papers. While little is known publicly about the federal government's case against Peter Madoff, prosecutors indicated in court papers that it involves misleading investors about the Madoff firm's compliance program and falsifying securities records.

Bernard Madoff's lawyer has told a judge scheduled to sentence the disgraced financier next week that 12 years in prison would be sufficient punishment for the man who swindled tens of billions of investors' dollars in one of history's biggest frauds. But a Colorado woman who says her family was ruined financially by Madoff's thievery said that sentence might work only "if he was hung by his toes" the whole time.

NEW YORK -- Bernard Madoff's younger brother Peter is set to plead guilty in federal court in Manhattan, the first of the swindler's kin to face charges in history's largest Ponzi scheme. Peter Madoff, who for years worked as the chief compliance officer and senior managing director for Bernard L. Madoff Investment Securities, will plead guilty Friday in a deal with prosecutors that calls for a prison term of 10 years, according to court papers.  While little is known publicly about the federal government's case against Peter Madoff, prosecutors indicated in court papers that it involves misleading investors about the Madoff firm's compliance program and falsifying securities records.