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Ponzi Schemer Bernie Madoff Dies In Federal Prison

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FILE - Disgraced financier Bernard Madoff leaves U.S. District Court in Manhattan after a bail hearing in New York, Monday, Jan. 5, 2009. Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died early Wednesday, April 14, 2021, in a federal prison, a person familiar with the matter told The Associated Press. (AP Photo/Kathy Willens, File)

Ponzi schemer Bernie Madoff is dead at 82. The former New York investment banker pled guilty to defrauding tens of thousands of investors out of about 65-billion of dollars in 2009 and was sentenced to 150 years in a federal prison. It was the largest investment fraud in U.S. history.

Among the 37-thousand victims in 136 countries were director Steven Spielberg, actor Kevin Bacon, and Hall of Fame pitcher Sandy Koufax. Madoff told CNBC in 2013 he did not start the scheme until the early 1990s.

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