Bernie Madoff, infamous Ponzi schemer, reportedly dies in prison
Bernie Madoff, the former Wall Street financier who was convicted of carrying out a massive Ponzi scheme, died in prison on Wednesday morning at age 82, a Bureau of Prisons spokesperson told The Daily Beast.
Madoff was carrying out his sentence at the Federal Medical Center in Butner, North Carolina, due to a terminal kidney disease. His death was of natural causes, The Associated Press reports, and is not believed to be COVID-19 related. In 2009, Madoff pleaded guilty and admitted to "swindling thousands of clients out of billions of dollars in investments over decades," writes AP. He was sentenced to 150 years in prison. Madoff said he was "deeply sorry and ashamed."
His scheme, considered the largest in U.S. history, nabbed an estimated $17.5 billion from investors, and "around $13 billion has been recovered since his conviction," reports The Daily Beast.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Is the royal family a security risk?
A Chinese spy's access to Prince Andrew has raised questions about Chinese influence in the UK
By Sorcha Bradley, The Week UK Published
-
Assad's future life in exile
The Explainer What lies ahead for the former Syrian dictator, now he's fled to Russia?
By Elizabeth Carr-Ellis, The Week UK Published
-
The best panettones for Christmas
The Week Recommends Supermarkets are embracing novel flavour combinations as sales of the festive Italian sweet bread soar
By Irenie Forshaw, The Week UK Published
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
By Peter Weber Published
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
By Justin Klawans Published
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
By Peter Weber Published
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
By Justin Klawans Published
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
By Catherine Garcia Published
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
By Catherine Garcia Published
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
By Catherine Garcia Published
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read
By Justin Klawans Published