Bernie Madoff Has Died In Prison
Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, has died in federal prison, sources told ABC News Wednesday.
Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, sources said.
Last year, Madoff’s lawyers filed court papers to try to get the 82-year-old released from prison in the COVID-19 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 $13 billion of an estimated $17.5 billion that investors put into Madoff’s business. At the time of his arrest, fake account statements were telling clients they had holdings worth $60 billion.