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Updated Apr 16, 2021 | 17:14 IST
In 2009, Madoff, who many deemed a wizard of Wall Street, pleaded guilty to a Ponzi scheme that investigators allege began as far back as the 1970s. Bernie Madoff passed away at the age of 82 on Wednesday, April 14, 2021. | Photo Credit: Twitter
Key Highlights
It turned out the hefty returns that Madoff was consistently providing his clients were actually part of one of the world s largest-ever Ponzi schemes
He eventually came clean to his children, who, incidentally, were also part of the firm but not, reportedly, connected to the scheme
Ultimately, just over $13 billion of an estimated $17.5 billion that his clients had ploughed into his firm was recovered
Kamis 15 Apr 2021 07:02 WIB
Rep: Reuters/ Red: Elba Damhuri
Bernie Madoff died on Wednesday in prison where he was serving a 150-year sentence. Foto: www.huffingtonpost.com
Bernie Madoff died in prison where he was serving 1 150-year sentence REPUBLIKA.CO.ID, NEW YORK - Bernard Madoff, who for decades masqueraded as a successful and trustworthy Wall Street kingpin before admitting to running the largest known Ponzi scheme in history, died on Wednesday in prison where he was serving a 150-year sentence. He was 82. A spokeswoman for the Federal Bureau of Prisons said Madoff died at the Federal Medical Center in Butner, North Carolina, about 3:30 a.m. EDT (0730 GMT).
Muere en prisión Bernie Madoff, autor de la mayor estafa piramidal de la historia deperu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from deperu.com Daily Mail and Mail on Sunday newspapers.
Bernie Madoff dies in prison at 82
David Karp/AP
Former financier Bernard Madoff exits Federal Court in Manhattan, New York on Tuesday, March 10, 2009. Madoff will plead guilty Thursday to 11 felony counts including money laundering, perjury and securities fraud that carry a potential prison term of 150 years, his lawyer and prosecutors said Tuesday. (AP Photo/David Karp)
By: The Associated Press & Scripps National
Posted at 7:32 AM, Apr 14, 2021
and last updated 2021-04-14 09:51:25-04
Bernie Madoff, the former investment adviser with powerful connections who was convicted of running one of the largest Ponzi schemes in U.S. history has died in prison. He was 82.