Ponzi Schemer Bernie Madoff Dies In Prison At 82

Written by on April 14, 2021

NEW YORK (AP) — Bernie Madoff, the financier who pleaded responsible to orchestrating the most important Ponzi scheme in historical past, has died in a federal jail, an individual conversant in the matter advised The Related Press on Wednesday.

Madoff died on the Federal Medical Middle in Butner, North Carolina, apparently from pure causes, the individual stated. The individual was not approved to talk publicly and spoke to the AP on the situation of anonymity.

Final yr, Madoff’s legal professionals filed court docket papers to attempt to get the 82-year-old launched from jail within the COVID-19 pandemic, saying he had suffered from end-stage renal illness and different persistent medical circumstances. The request was denied.

Madoff admitted swindling hundreds of shoppers out of billions of {dollars} in investments over a long time.

A court-appointed trustee has recovered greater than $13 billion of an estimated $17.5 billion that buyers put into Madoff’s enterprise. On the time of his arrest, pretend account statements have been telling shoppers that they had holdings price $60 billion.


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