BERNIE MADOFF: DISGRACED FINANCIER DIES IN PRISON


15/04/2021




Aslıhan DOĞRU -TDO- Bernie Madoff, the biggest financial fraudster in the United States, has died of natural causes at the Federal Medical Centre in North Carolina, where he was imprisoned.

Bernie Madoff has recently been reported to have kidney disease and other chronic medical conditions.

In 2009, Madoff was convicted of defrauding thousands of people with his massive Ponzi scheme and sentenced to 150 years in prison.

With the 2008 crisis hitting the world economy, Madoff was found to have defrauded between $25 billion and $63 billion.

Madoff was providing dividends to leading investors through the Ponzi scheme he founded, from the funds of later investors.

Madoff, a long time Wall Street star, had his Ponzi scheme collapsed during the financial crisis of 2008 because of investors looking to withdraw his money.


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