Bernie Madoff, the architect of one of the largest financial fraud cases in American history, has died in prison at the age of 82.
new York- The Wall Street Journal reported that Bernie Madoff was the architect of one of the largest financial fraud cases in American history, at the age of 82.
The paper said that Madoff is the former chairman of the Nasdaq Stock Exchange and has worked on Wall Street for decades. In December 2008, Madoff shocked the world by admitting that his investment business involved a multi-billion dollar Ponzi scheme.
He pleaded guilty in March 2009 and received the longest sentence.
In the ten years since his arrest, a court-appointed administrator has returned more than $12 billion to former Madoff clients.
A statement from the Bureau of Prisons stated that Madoff died on April 14 at the Federal Medical Center in Butna, North Carolina.
Thousands of victims of the Madoff scam include ordinary people as well as businesses, pension funds, hedge funds and charities.
These include celebrities such as Kevin Bacon, Kyra Sedgwick and John Malkovich, as well as with film director Steven Spielberg (Steven Spielberg) Related non-governmental organizations.
As one of Madoff’s longest serving clients, the owner of the New York Mets baseball team suffered losses and worked hard to build a competitive team for many years.
Some of Madoff’s victims lost everything. Many people come from the Jewish community in the United States, and Madoff is a well-known philanthropist in the United States.
The authorities exposed his crimes in 2008 by his two sons, neither of whom participated in fraudulent activities.