Bernard Madoff dies in prison
Bloomberg
Bernard Madoff, the Manhattan investment adviser who promised stellar returns to his A-list clients and instead defrauded them in the largest Ponzi scheme in history, has died.
Bernard L. Madoff, the money manager who admitted to running the largest Ponzi scheme in history, died Wednesday at the Federal Medical Center Butner in Butner, N.C., a spokesman from the Federal Bureau of Prisons confirmed. He was 82.
The cause of death is not being disclosed.
Mr. Madoff was charged with securities fraud by the Securities and Exchange Commission in late 2008. He pleaded guilty in March 2009 to defrauding clients in hedge funds managed by his eponymous firm, Bernard L. Madoff Investment Securities LLC. In June 2009, he was sentenced to the maximum 150 years in prison.