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Bernie Madoff dies in prison at age 82

April 14, 2021 – Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, has died in a federal prison, a person familiar with the matter told The Associated Press on Wednesday.

Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorized to speak publicly and spoke to the AP on the condition of anonymity.

A court-appointed trustee has recovered more than $13 billion of an estimated $17.5 billion that investors put into Madoff’s business. At the time of his arrest, fake account statements were telling clients they had holdings worth $60 billion. Global News reports. | READ MORE