Peter Madoff, the younger brother of imprisoned Ponzi schemer Bernie Madoff, was arrested in New York City on Friday. The younger Madoff, 66, is expected to plead guilty to securities fraud for his role in the scheme for which his brother is already serving 150 years in jail. Peter worked for Bernie Madoff Securities as chief compliance officer for nearly 40 years. He has agreed to forfeit $143.1 billion, an amount that is symbolic because it is not necessarily an amount he can pay, but rather the amount that can be traced to his fraud.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Obama just kneecapped Jeb Bush and Chris Christie's 2016 prospects
- 43 TV shows to watch in 2014
- 6 tiny scientific mistakes that created huge disasters
- It's official: The religious right is calling it quits
- 10 classic Sesame Street moments we wouldn't show today's kids
- The slippery slope of Twitter's attempts to stop harassment against women
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- The dangerously childish morality of liberal ObamaCare supporters
- The real story behind Deliver Us From Evil
- The Hunger Games: Mockingjay — Part 1: 10 major differences between the book and the movie
Subscribe to the Week