bernard madoff

French investors lost an estimated $700 million in funds tied to Bernard Madoff's Ponzi scheme. France's top market watchdog pushed the giant Swiss bank UBS to reimburse investors for their losses.

UBS acted as a "custodian bank" to those funds. In a statement, UBS said investors and their advisors knew their money was being placed with Madoff, so it's not responsible for the losses.

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.

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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 yesterday. And other Madoff victims worry that not enough is being done to prevent the next Madoff.

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The sentencing of disgraced financier Bernard Madoff 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.

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