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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.
Madoff was born on April 29, 1938, in Brooklyn, New York City, to Sylvia (Muntner) and Ralph Madoff, who was a plumber and stockbroker. [34] [31] [35] [36] His family was Jewish. [37] Madoff's grandparents were emigrants from Poland, Romania, and Austria. [38] He was the second of three children; his siblings are Sondra Weiner and Peter Madoff.
Ruth Madoff (/ ˈ m eɪ d ɔː f / MAY-doff; [1] née Alpern; born May 18, 1941) [2] is an American former bookkeeper and the widow of Bernie Madoff, the convicted American financial fraudster who served a prison sentence for a criminal financial scheme until his death in April 2021.
More than $14.6 billion has been recovered for Madoff's victims so far by Irving Picard, the court-appointed trustee overseeing the liquidation of Madoff's firm, and Bernie Madoff is long gone ...
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.
The fund for victims of Bernie Madoff’s historic Ponzi scheme has begun its ninth payout, distributing about $159 million in government-seized funds to nearly 25,000 people worldwide, the ...
Participants in the Madoff investment scandal included employees of Bernard Madoff's investment firm with specific knowledge of the Ponzi scheme, a three-person accounting firm that assembled his reports, and a network of feeder funds that invested their clients' money with Madoff while collecting significant fees.
His book includes new details about Madoff's crimes. ... and he said that is what happened as he delved deeper and deeper into Madoff’s crimes, for which the con man was sentenced to 150 years ...