Bernie Madoff, Ponzi Scheme Mastermind, Dead at 82
By : Wibbitz Top Stories
Published On: 2021-04-14
974 Views
00:54
Bernie Madoff,
Ponzi Scheme Mastermind, Dead at 82.
The Federal Bureau of Prisons confirmed
Madoff's death from natural causes
on Wednesday.
He had been serving a 150-year prison sentence.
He died in the North Carolina Federal Medical Center.
The investment fraud orchestrated by
Madoff likely exceeded $65 billion.
Tens of thousands of people were defrauded,
including high-profile investors such
as Steven Spielberg and Kevin Bacon.
Madoff's fraud likely spanned over four decades
until he was turned in by his two sons in 2008.
Some investors lost millions
due to the scheme.
The success of Madoff's pyramid scheme
led to massive changes at the
Securities and Exchange Commission
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