Who was Bernie Madoff?
Bernie Madoff is an American financier who scammed tens of thousands of people out of billions of dollars. He has reportedly died at the age of 80. Madoff’s cause of death has been given as only “natural causes,” however he also suffered from terminal kidney disease.
The federal Bureau of Prisons told AFP: “We can confirm Bernard Madoff passed away on April 14, 2021, at the Federal Medical Center (FMC) Butner, North Carolina.” They said the cause of death would be determined by a medical examiner.
But Madoff’s lawyer said he was terminally ill. According to CNBC, Madoff was the mastermind of “the biggest investment fraud in U.S. history,” a fraud scheme that totaled $65 billion. He pleaded guilty in 2009, and he died in prison.
Bernie Madoff Biography
Madoff was raised in Queens, New York, the son of Sylvia and Ralph Madoff, who was a stockbroker. His family was Jewish. He was the second of three children; his siblings are Sondra Weiner and Peter Madoff. Madoff graduated from Far Rockaway High School in 1956.
He attended the University of Alabama for one year but graduated from Hofstra University in 1960 with a Bachelor of Arts in political science.
Bernie Madoff Wik
Madoff briefly attended Brooklyn Law School but founded the Wall Street firm Bernard L. Madoff Investment Securities LLC.
Bernie Madoff Wife
His wife Ruth is still alive. According to NBC New York, Ruth Madoff was never charged in the scam and didn’t divorce her husband.
She told Today in 2011: “The villain of all this is behind bars.” Ruth Madoff was last known to be living in a “nondescript condo” in Old Greenwich, Connecticut, according to the New York Post, which tracked her down, but she didn’t have anything to say to them.
The Post reported that she moved to that community in order to be closer to her grandchildren in 2012.
Bernie Madoff Sons
Madoff’s son Mark died of suicide. His other son Andrew died of cancer at age 48. His son Peter received a 10-year prison sentence, according to AP.
How old was Bernie Madoff?
Born on 29th April 1938, Madoff was 80 years old at the time of death, April 14, 2021.
Bernie Madoff Cause of Death
According to Yahoo Finance, Madoff’s lawyer, Brandon Sample, said that Madoff was terminally ill and “wanted to leave prison to die.” He said at that time that Madoff had “terminal kidney disease, among other serious medical conditions,” Yahoo Finance reported.
Shortly before he died, Madoff told The Washington Post he required a wheelchair and 24-hour care.
Breaking News: Bernie Madoff, the architect of the largest Ponzi scheme in history, has died in prison at 82. The victims of his fraud numbered in the thousands.https://t.co/Ir6jFYZaGo pic.twitter.com/0d1qtHfVOZ
— The New York Times (@nytimes) April 14, 2021
The Post reported that he was hoping to repair his relationship with his grandchildren before he died.
How Long Was Bernie Madoff In Jail?
“The Bureau of Prisons concluded in September 2019 that Madoff has less than 18 months to live because of the terminal nature of his kidney failure,” Sample wrote, according to the publication. The request for compassionate relief was denied.
“I’ve served 11 years already, and, quite frankly, I’ve suffered through it,” Madoff told the Post.
Madoff was serving his time at Butner Federal Correctional Complex in North Carolina.
Bernie Madoff Ponzi Scheme
He was serving a 150-year prison sentence for the Ponzi scheme swindle.
His scam netted well-known celebrities as well as other people and caused extraordinary anger among his victims, some of whom lost everything. According to the Associated Press, the judge didn’t mince words when he sentenced Madoff. U.S. District Judge Denny Chin said, “Here, the message must be sent that Mr. Madoff’s crimes were extraordinarily evil and that this kind of irresponsible manipulation of the system is not merely a bloodless financial crime that takes place just on paper, but it is instead … one that takes a staggering human toll.”
When Did Bernie Madoff Go To Jail?
On December 11, 2008, Madoff was arrested and charged with securities fraud. At the time of his arrest, the firm’s statements showed $65 billion in its accounts — most of it money that didn’t really exist
Bernie Madoff Net Worth
Madoff and his wife, Ruth, owned net assets of at least $823 million as of the close of 2008, newly filed court records showed Friday.
In all, the sworn statement, signed by Madoff on December 31, listed total assets between $823 million and $826 million, and total liabilities of $265,000. The statement was prepared for the Securities and Exchange Commission but was not previously made public.