Bernard Madoff, who says his investment business was actually a Ponzi scheme estimated at $50 billion, is scheduled to appear in court today for a bail hearing. Bloomberg News reports, "The government may ask that Madoff’s bail conditions be modified, including that bail be withdrawn and the former executive imprisoned." Madoff is currently on $10 million bond and is under house arrest at his East 64th Street penthouse apartment. more ›

UPDATED: The NYPD confirmed that Thierry Magon de La Villehuchet, founder and head of hedge fund Access International Advisors which invested heavily with Bernard Madoff, was found dead in his Madison Avenue office. Police Commissioner Ray Kelly told Bloomberg News, “Our investigative premise is that it was a suicide." more ›