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


Bernie Madoff, whose Ponzi scheme devastated the Jewish world, dies in prison at 82
Bernie Madoff, pictured in 2009 ahead of his entering a guilty plea. (Stephen Chernin/Getty Images)
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(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. ....

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Bernie Madoff, Architect of Largest Ponzi Scheme in History, Is Dead at 82


Bernard Madoff, Architect of Largest Ponzi Scheme in History, Is Dead at 82
His enormous fraud left behind a devastating human toll and paper losses totaling $64.8 billion.
Bernie Madoff leaving a Manhattan court in January 2009. The victims of his fraud numbered in the thousands and were scattered from Palm Beach to the Persian Gulf.Credit.Hiroko Masuike/Getty Images
April 14, 2021Updated 11:27 a.m. ET
Bernard L. Madoff, the one-time senior statesman of Wall Street who in 2008 became the human face of an era of financial misdeeds and missteps for running the largest and possibly most devastating Ponzi scheme in financial history, died on Wednesday at the Federal Medical Center in Butner, N.C. He was 82. ....

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Bernie Madoff dies in prison at 82 – The Forward


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.
Among Madoff’s investors were European hedge funds, elderly retirees and a range of nonprofits. Among his victims were some of the most prominent Jewish institutions in the country, as well as Jewish celebrities like Holocaust survivor Elie Wiesel and Sandy Koufax, the Hall-of-Fame pitcher. ....

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