âAn Evil Man Diedâ: Victimsâ Animosity Toward Madoff Outlives Him
For many of the victims of Bernard L. Madoffâs massive Ponzi scheme, his death on Wednesday did not assuage their bitterness.
Burt Ross, left, a victim of Bernie Madoff, spoke outside the federal courthouse in Manhattan where Mr. Madoff was sentenced in 2009. Mr. Ross said he lost millions in Mr. Madoffâs scheme.Credit.James Estrin/The New York Times
April 14, 2021Updated 8:44 p.m. ET
There were no obvious public signs that Bernard L. Madoff, who died Wednesday at the age of 82, would eventually become infamous for running the largest Ponzi scheme in financial history.
Bernard Madoff dies in jail He had been suffering from chronic kidney failure and several other medical ailments
Bernard Madoff, who was convicted for running the largest known Ponzi scheme in history, died on Wednesday in federal prison where he was serving a 150-year sentence, the Bureau of Prisons said. He was 82.
Madoff had been suffering from chronic kidney failure and several other medical ailments.
He had been held at a federal prison in Butner, North Carolina, after being sentenced in June 2009 to a 150-year term for engineering a fraud estimated as high as $64.8 billion.
Madoff’s thousands of victims, large and small, included individuals, charities, pension funds and hedge funds.
Bernie Madoff didn’t use a gun or a knife, but he victimized thousands and stole billions, much of it from fellow New Yorkers. White-collar or not, he was a terrible criminal, and his death in federal prison, two weeks before his 83rd birthday, was a fitting end for a man who far outdid Charles Ponzi’s original 1920 confidence scheme.
Bernie Madoff
NEW YORK: Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in jail in the US state of North Carolina on Wednesday. He was 82.
Madoff’s death came at Federal Medical Center in Butner, apparently from natural causes.
Last year, Madoff’s lawyers filed court papers to try to get the 82-year-old released from prison amid the Covid-19 pandemic, saying he was suffering from end-stage renal disease and other chronic medical conditions. The request was denied.
Madoff admitted swindling thousands of clients out of billions of dollars in investments over decades.