He died at the age of 82 and was convicted of playing the pyramid Bernie Madoff US CBS Television and Washington Post, the US investment director at a federal prison in North Carolina, said Wednesday, citing law enforcement officials.
American businessman Bernie Madoff is possibly the largest series of financial scams ever, causing $ 65 billion in damages to clients.
The former Nasdaq chairman and founder and CEO of Bernard L. Madoff Investment Securities LLC declined in 2008, at the height of the global financial crisis. In June 2009, he was sentenced to 150 years in prison. He has been imprisoned since then.
At his trial, he pleaded guilty to eleven charges, including fraud and money laundering. For years, it had promised its investors fabulous profits, which they paid off with investors’ money who went a step further. When fraud appeared, they lost a lot of their savings. During the lawsuit, Madoff admitted that he had not invested the money entrusted to him.
In an interview with The Washington Post in February 2020, Madoff reported that he was terminally ill. He said that he had applied for his early release due to the coronavirus epidemic, which, however, had not been approved.
Then his attorney said that Madoff was suffering from acute kidney failure and likely only had a year and a half left.