Billionaire Paul Allen's foundation is funding a new type of evacuation "cocoon" to help fly sick medical workers from West Africa
If you can't beat them, avoid them.
The Pentagon commits to planning for higher temperatures, and retired generals line up to help
Mobile food startups are moving beyond delivery into food prep
Cities relax or abandon purchasing restrictions in a bid to avoid more serious downturn
Ministry of Supply’s Aviator jacket combines the structure of a tailored garment with the functionality of a windbreaker
The Department of Education may double the number of debt collectors who go after defaulted federal student loans
This year's must-have Silicon Valley office accessory: a $199 bear costume
TIMOTHY A. CLARY/AFP/Getty Images
Year made public: 2008
Estimated Losses: $65 billion
Madoff was sentenced on June 29 to 150 years in prison, after pleading guilty on March 12 to federal charges that include fraud and money laundering. He lured many high-profile investors by promising to beat the market through a slow and steady investment strategy. But Madoff actually engaged in an elaborate Ponzi scheme. As the markets tumbled late last year, alarmed investors asked to pull their money out. Madoff couldn't come close to providing the $7 billion requested and was turned in by his sons.