Wall Street Journal on MSN
Bernie Madoff, the architect of one of the largest financial frauds in American history, has died at age 82.
Mr. Madoff, one-time chairman of the Nasdaq Stock Market and a fixture on Wall Street for decades, shocked the world in December 2008 when he confessed his investment business was a multibillion-dollar ponzi scheme. He pleaded guilty in March 2009 and was given the longest sentence allowed.
In the decade after his arrest, a court-appointed trustee has returned more than $12 billion to Mr. Madoff’s former clients.
A statement from the Bureau of Prisons on Wednesday said Mr. Madoff passed away on April 14 at the Federal Medical Center in Butner, N.C. More