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Bernie Madoff, whose Ponzi scheme devastated the Jewish world, dies in prison at 82

Jewish Ledger Bernie Madoff, whose Ponzi scheme devastated the Jewish world, dies in prison at 82 By Ben Sales (JTA) – Bernie Madoff, the fraudster who ran a $17.5 billion Ponzi scheme ensnaring thousands of investors, including a long list of Jewish organizations and families, has died at 82. The Associated Press reported Madoff’s death Wednesday at a federal prison in Butner, North Carolina. Madoff was known as a selective money manager who made fantastic yet consistent profits for his clients until his entire operation was exposed as a scam amid the 2008 financial crisis. Madoff’s confession of his Ponzi scheme, in which he invented fake stock gains on paper and used new investments to pay off withdrawals from other investors, set off a virtual earthquake in the Jewish philanthropic world.

Joe Nocera: Bernie Madoff left behind only misery and heartache

Joe Nocero AP   TribLIVE s Daily and Weekly email newsletters deliver the news you want and information you need, right to your inbox. Bernie Madoff is dead, and it is unlikely that even the people who once were closest to him will shed a tear. Not his wife, Ruth, whose life was destroyed when Madoff’s Ponzi scheme was revealed in December 2008. Not his brother, Peter, Madoff’s former chief compliance officer, who spent nearly a decade in prison after pleading guilty to a variety of charges. Not his niece Shana, Peter Madoff’s daughter, who also worked in the compliance department. And certainly not his daughters-in-law or his grandchildren; both his sons died after he went to prison, one from suicide and the other from cancer.

US ponzi fraudster Bernie Madoff left behind only misery and heartache

US ponzi fraudster Bernie Madoff left behind only misery and heartache
stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.

Madoff s arrest and the lesson behind his fall

Madoff’s arrest and the lesson behind his fall 12 hours ago The Independent What is there to say over the corpse of Bernie Madoff, maybe the least-mourned man this side of serial killers? Well, he died alone, which he deserved, as harsh as it is to say on this, the day of his death. His son killed himself in 2010, two years after Madoff’s arrest, and his other son died of a cancer whose return he blamed on the stress from the scandal of Dad’s firm being revealed as Wall Street’s biggest fraud ever. His brother went to prison for his contributions to the scheme federal securities regulators uncovered amid the larger financial meltdown of 2008, an old-fashioned Ponzi setup in which new investors’ money was used to pay off any prior investors who wanted out, while both groups were given fake documents showing that everyone Madoff dealt with was getting rich. It fell apart when the mortgage crisis dried up the new money, and caused a $12 billion spike in reques

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