Breaking: Ponzi Scheme Mastermind Bernie Madoff Dies in Prison

Bernie Madoff, the financier who masterminded the largest Ponzi scheme in history, died in federal prison on Wednesday at age 82.

Madoff died of natural causes unrelated to coronavirus, a spokesperson for the Federal Medical Center in Butner, N.C., told reporters. Lawyers for Madoff had attempted to have him transferred out of prison last year because of the pandemic, but the request was denied.

Madoff admitted to defrauding global investors of $65 billion, after his Ponzi scheme was discovered following the Great Recession in 2008.

“He stole from the rich. He stole from the poor. He stole from the in between. He had no values," former investor Tom Fitzmaurice said at Madoff’s sentencing. "He cheated his victims out of their money so he and his wife… could live a life of luxury beyond belief.”



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Ponzi Scheme Mastermind Bernie Madoff Dies in Prison

Madoff died of natural causes unrelated to ... READ MORE


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