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Bernie Madoff

Bernard Lawrence "Bernie" Madoff ( /ˈmeɪdɒf/; born April 29, 1938) is an American former businessman, stockbroker, investment advisor, financier and white collar criminal. He is the former non-executive chairman of the NASDAQ stock market, and the admitted operator of a Ponzi scheme that is considered to be the largest financial fraud in U.S. history. In March 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme that defrauded thousands of investors of billions of dollars. Madoff said he began the Ponzi scheme in the early 1990s. However, federal investigators believe the fraud began as early as the 1970s, and those charged with recovering the missing money believe the investment operation may never have been legitimate. The amount missing from client accounts, including fabricated gains, was almost $65 billion. The court-appointed trustee estimated actual losses to investors of $18 billion. On June 29, 2009, he was sentenced to 150 years in prison, the maximum allowed. Jeffry Picower, rather than Madoff, appears to have been the largest beneficiary of Madoff's Ponzi scheme, and his estate settled the

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Bernie Madoff's Son Found Dead of Apparent Suicide

Bernie Madoff's Son Found Dead of Apparent Suicide

Mark Madoff -- son of incarcerated former stock broker Bernie Madoff -- was found dead in his apartment in Manhattan early Saturday morning of an apparent suicide.Madoff was found hanging in his… READ MORE >

Bernie Madoff -- Selling His Soles

Bernie Madoff -- Selling His Soles

The feds ain't done with Bernie Madoff just yet -- in fact, Uncle Sam is about to auction off a bunch of the dude's expensive stuff ... starting with the Ponzi schemer's ridiculous shoe… READ MORE >

- 1465 days ago
Zsa Zsa Gabor -- Back Taxes Galore!

Zsa Zsa Gabor -- Back Taxes Galore!

Zsa Zsa Gabor -- aka Prince Von A-Hole's wife -- owes Uncle Sam a hefty load of dough ... and it might all be Ponzi scheme mastermind Bernie Madoff's fault.Records show a $118,321 lien was filed… READ MORE >

- 1814 days ago
Sweet Justice

Sweet Justice

Bernie Madoff was just sentenced to 150 years in prison. Couldn't happen to a nicer guy. See Also Ruth Madoff -- Prison Pays Ruth Madoff -- A Christmas Story Ruth Madoff Spends Hard Earned Money  READ MORE >

- 1950 days ago
Ruth Madoff -- Prison Pays

Ruth Madoff -- Prison Pays

Ruth Madoff visited her embezzler husband Bernie Madoff at a federal correction center in Manhattan yesterday and left carrying a bag of money. Score!Bernie has been incarcerated for over a month… READ MORE >

- 2026 days ago
Ruth Madoff: A Christmas Story

Ruth Madoff: A Christmas Story

Here's Ruth Madoff -- wife of $65 billion Ponzi schemer Bernie Madoff -- in NYC on Thursday (left) -- and Peter Billingsley as Ralphie in the 1983 film "A Christmas Story" (right).One of them has… READ MORE >

- 2051 days ago

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