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Bernard Lawrence Madoff (/ ˈ m eɪ d ɔː f / MAY-dawf; [2] April 29, 1938 – April 14, 2021) was an American financial criminal and financier who was the admitted mastermind of the largest known Ponzi scheme in history, worth an estimated $65 billion. [3] [4] He was at one time chairman of the Nasdaq stock exchange. [5]
The resulting scandal lead to multibillion-dollar losses and the arrest of Madoff, who was later sentenced to 150 years in prison. Lawyer Martin London, Mark Madoff's father-in-law, advises Bernie Madoff's sons to turn their father in to the authorities. Bernie Madoff admits to FBI agents that he had been operating a Ponzi scheme since the 1970s.
Bernie Madoff was the mastermind behind a $65 billion Ponzi scheme and a new Netflix doc explores his crimes. ... Madoff's official cause of death was end-stage renal disease and other chronic ...
Some of Madoff’s victims have also received compensation through Irving Picard, a court-appointed trustee in the Madoff case, who has distributed almost $14 billion to former Madoff customers.
Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison Wednesday, the federal Bureau of Prisons confirmed to CBS News ...
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. [1] In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
The fund disbursing money to the victims of Bernie Madoff’s legendary Ponzi scheme began its 10th and final distribution on Monday, putting another $131 million in the pockets of swindled investors.
In the decade before Madoff’s firm collapsed, he and his firm numbered among the biggest customers at JP Morgan Chase.Bernie portrayed himself as a feel-good story, a man who climbed over the ...