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Bernie Madoff (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, April 14, 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. ....
Not even for a nano-second. He died in a federal jail in Butner, North Carolina, last week at the age of 82, his request for compassionate release having been denied in 2020. Serving a 150-year sentence, he was doomed to die within the walls of a prison cell, having lost his freedom on the day of his sentencing on June 29, 2009. A scoundrel who masqueraded as a wise and visionary investment manager, Madoff will be remembered as a consummate fraudster who ran the largest Ponzi scheme in history. His clients, whose greed led them astray, collectively lost an estimated $64 billion in savings. Two of them, in despair, committed suicide. ....
On Dec. 11, 2008, one of the worst events to rock the organized Jewish world was revealed on the front pages of the nationâs newspapers. Few outside of the financial world had ever heard of him before that day. But when news broke that Bernard Madoffâs Wall Street investment firm was a Ponzi scheme and that some of the Jewish communityâs richest and most respected individuals, as well as philanthropies and educational institutions, had been the victims of a gigantic fraud, the impact was devastating. More than $64.8 billion had disappeared when the impact of the 2008 financial crisis finally undid Madoffâs decades-long scheme and forced his firm into collapse, although most of that was actually the fictional profits his clients thought he had earned them. ....
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. ....