eter Madoff, the brother of Ponzi schemer Bernard Madoff, is expected to plead guilty to criminal charges of conspiracy and falsifying records in connection to the multibillion-dollar fraud unveiled in December 2008, according to court papers released Wednesday. He will become the first Madoff family member to admit to criminal charges connected to the Ponzi scheme that cheated thousands of investors of roughly $20 billion. Peter Madoff, who was the former chief compliance officer at the private investment arm of Bernard Madoff's business, also agreed to the criminal forfeiture of all his real and personal property, and will serve 10 years in prison. Bernard Madoff is currently serving a 150-year prison sentence for his crimes.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why China's Communist Party is headed for collapse
- Obama doesn't have a manhood problem — but conservatives certainly do
- He said he was leaving. She ignored him.
- Why Antonin Scalia was right to defend a drug dealer
- 31 TV shows to watch in 2014
- Why Mindy Kaling — not Lena Dunham — is the body positive icon of the moment
- How to make perfect fried rice in 6 easy steps
- Why we need a maximum wage
- 10 things you need to know today: April 23, 2014
- Why atheism doesn't have the upper hand over religion
Subscribe to the Week