Bernie Madoff, the famous Ponzi scheme, dies

Bernard Madoff, whose name became synonymous with financial fraud, died while serving a 150-year sentence in Federal Prison. He was 82 years old. The U.S. Bureau of Prisons confirmed the death Wednesday at the Federal Medical Center in Butner, North Carolina. The cause of death was not released. In February 2020, he asked the courts to get him out of jail as soon as possible, saying he had terminal kidney failure and had a life expectancy of less than 18 months. But U.S. prosecutors in the southern district of New York have said Madoff’s crime is “unprecedented in scope and size” and that there is “sufficient reason” to deny Madoff’s request. Madoff was at the forefront of the $ 20 billion Ponzi scheme – the largest financial fraud in history -. He had a legendary career on Wall Street, offering astronomical returns to his investors, including director Steven Spielberg, actor Kevin Bacon and Kyra Sedgwick, and New York Met owner Fred Wilpon. #ChristineRomans #CNNBusiness #New.

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