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Federal Bureau of Prisons says Ponzi schemer Bernard Madoff has passed away By Jonathan Stempel and Bill Trott
FILE PHOTO: Accused swindler Madoff exits the Manhattan federal court house in New York
NEW YORK (Reuters) -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.
His death at the Federal Medical Center in Butner, North Carolina, was confirmed by the federal Bureau of Prisons.
Madoff died apparently from natural causes, the AP reported earlier, citing an unidentified person familiar with the matter. He would have turned 83 on April 29.
Madoff was serving a 150-year sentence at the prison, where he had been treated for what his attorney called terminal kidney disease. His request for compassionate release from prison was denied in June.
He pleaded guilty in 2009 to a scheme that investigators said started in the early 1970s and defrauded as many as 37,000 people in 136 countries over four decades by the time Madoff was busted on Dec. 11, 2008 after his two sons turned him in. Victims included the famous director Steven Spielberg, actor Kevin Bacon, former New York Mets owner Fred Wilpon, Hall of Fame pitcher Sandy Koufax and Nobel Peace Prize winner Elie Weisel and ordinary investors, like Burt Ross, who lost $5 million in the schem
CBS News
A look back at 60 Minutes reporting on Bernie Madoff s massive Ponzi scheme
60 Minutes extensively covered the fallout of Bernie Madoff s historic Ponzi scheme, interviewing his family, a whistleblower, and the fraud s asset recovery team. 2021 Apr 14
Bernard Madoff, the man who orchestrated the largest known Ponzi scheme in history, died today at age 82 at the Federal Medical Center in Butner, North Carolina. Madoff died in prison where he was serving a 150-year sentence for 11 felonies related to his fraudulent asset management operation.
In the aftermath of Madoff s arrest in 2008, 60 Minutes reported extensively on Bernie Madoff s unprecedented scheme.
60 Minutes aired the first interview with Madoff s wife Ruth and son Andrew. The broadcast reported on the whistleblower who said he first alerted the Securities and Exchange Commission about Madoff s fraudulent behavior in 2000. After his conviction, 60 Minutes broadcast a sto
Ponzi schemer Bernie Madoff dies in prison at 82
Madoff was in care at the Federal Medical Center in Butner, N.C.
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In this March 10, 2009, photo, former financier Bernie Madoff leaves federal court in Manhattan, in New York. [ DAVID KARP | AP ]
Updated 1 hour ago
NEW YORK â Bernard Madoff, the infamous architect of an epic securities swindle that burned thousands of investors, outfoxed regulators and earned him a 150-year prison term, died in a federal prison early Wednesday. He was 82.
Madoffâs death at the Federal Medical Center in Butner, North Carolina, was confirmed by his lawyer and the Bureau of Prisons.