BERNIE Madoff, the fraudster behind the largest Ponzi scheme in history, has died in prison. Madoff passed away at the Federal Medical Center in Butner, North Carolina , apparently from natural causes, a person familiar with the matter told The Associated Press. Last year, Madoff's lawyers filed court papers to try to get the 82-year-old released from prison in the Covid pandemic, saying he had suffered from end-stage renal disease and other chronic medical conditions. The request was denied. Madoff admitted swindling thousands of clients out of billions of dollars in investments over decades. A court-appointed trustee has recovered more than $13billion of an estimated $17.5billion that investors put into Madoff's business. At the time of his arrest, fake account statements were telling clients they had holdings worth $60billion. 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 and Hall of Fame pitcher Sandy Koufax. But his investment advisory business was exposed in 2008 as a multibillion-dollar Ponzi scheme that… Read full this story
- The Biden family’s strange business history
- Kate Winslet visits Dartmoor Prison
- Dead inmate 'taken off harm watch scheme'
- Prison's 'nursery rhyme bush' cut down
- Sinister history hiding behind a normal Liverpool street
- Horror history
- America has no business in pursuing boss of Autonomy
- Amateur actress, 68, jailed over £740,000 benefit fraud
- 2020 Democrats start two nights of debates in Detroit
- El Paso shooting: Texas massacre investigated as domestic terror
Bernie Madoff dead: Fraudster behind largest Ponzi scheme in history dies in prison at 82 have 264 words, post on www.thesun.co.uk at April 14, 2021. This is cached page on Europe Breaking News. If you want remove this page, please contact us.