Bernie Madoff, Infamous Ponzi Scheme Criminal, Dies in Prison
Bernie Madoff, the figure behind the largest Ponzi scheme in history, has died in prison. He was 82.
Madoff’s death was confirmed to The New York Times by the Federal Bureau of Prisons. Madoff died at the Federal Medical Center in Butner, N.C. the result of “renal disease and other chronic medical conditions,” per the Associated Press.
Madoff was one of Wall Street’s most notable figures as a former chairman of the Nasdaq stock market. For decades, his investment advice and knowledge were sought after by many celebrities and other wealthy figures around the world.
However, in 2008, Madoff’s fraudulent business dealings were uncovered. Following a publicized trial in 2009, Madoff was sentenced to 150 years in prison for his decades-long Ponzi scheme that resulted in losses between $17 and $20 billion from various investors.
Madoff’s downfall was chronicled in the ABC miniseries Madoff which saw Academy Award-winning actor Richard Dreyfuss portray Madoff.