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Bernie Madoff: Notorious Ponzi Scheme Fraudster Dies In Prison Aged 82

Notorious Ponzi schemer Bernie Madoff has died in federal prison. Sources tell the Associated Press that the 82-year-old is believed to have passed away from natural causes. He was serving a 150-year prison sentence in a North Carolina federal facility for orchestrating the largest Ponzi scheme in history. In 2009 he pleaded guilty to 11 […]

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Notorious Ponzi schemer Bernie Madoff has died in federal prison.

Sources tell the Associated Press that the 82-year-old is believed to have passed away from natural causes.

He was serving a 150-year prison sentence in a North Carolina federal facility for orchestrating the largest Ponzi scheme in history.

In 2009 he pleaded guilty to 11 crimes related to swindling billions of dollars from thousands of investors from the 1970s until late 2008.

In February 2020, Madoff sought an early release from prison saying that he was dying from kidney disease. The request was denied.

Former financier Bernie Madoff exits federal court in Manhattan, in New York. The Supreme Court is leaving in place a lower court ruling that allows the trustee recovering money for investors in the Bernard Madoff Ponzi scheme to pursue more than $4 billion that went to overseas investors. The high court on Monday, June 1, 2020, declined to take the case. 

Photo Credit: Getty