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Bernie Madoff, the financier who orchestrated what is thought to be the largest Ponzi scheme in history, has died. He was As a money manager, Madoff defrauded thousands of investors out of tens of billions of dollars over the course of nearly two decades. His scheme wiped out the savings of individuals, charities, municipal governments and college endowment funds, and he was so hated at the time of his trial that he wore a bulletproof vest to and from the courthouse. But long before his name became synonymous with deceit, it had been held in high regard on Wall Street. His brokerage, Bernard L. Madoff Investment Securities LLC, consistently boasted impressive returns, and his clients — many within the Jewish community — included celebrities and wealthy philanthropists as well as ordinary people.
Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, has died in prison, a person familiar with the matter tells The Associated Press. The person was madoff facts authorized to speak publicly and spoke to the AP on the condition of anonymity.
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The request was denied. Madoff admitted swindling thousands of clients out of billions of dollars in investments over decades.
For decades, Madoff enjoyed an image as a self-made financial guru whose Midas touch defied market fluctuations. A former chairman of the Nasdaq stock market, he attracted a devoted legion of investment clients — from Florida retirees to celebrities such as famed film director Steven Spielberg, actor Kevin Bacon madoff facts Hall of Fame pitcher Sandy Koufax. He became so hated he had to wear a healtheknowledge vest to court.
Michael A. Mora
He stole from the poor. He stole from the in between. District Judge Denny Chin showed no mercy, sentencing Madoff to the maximum years in prison.
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