Convicted Ponzi schemer Bernie Madoff dies in federal prison at age 82

by Joel Abbott · Apr 14th, 2021 3:19 pm

Last Updated Apr 15th, 2021 at 5:57 pm

Bernie Madoff, who oversaw the largest Ponzi scheme in American history, died in federal prison on Wednesday after experiencing terminal kidney failure.

A spokesperson for the Manhattan U.S. Attorney's Office said the 82-year-old is believed to have suffered the fatal condition from natural causes.

Madoff was sentenced in 2009 to 150 years in prison after pleading guilty to a massive investment fraud scheme that spanned more than 30 years.

Beginning in the 1970s, Madoff stole up to $65 billion in life savings from more than 37,000 people in 136 countries.

Before his arrest, he was widely respected in financial circles and even served as the chairman for Nasdaq in the early 1990s.


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