Ponzi fraudster Bernie Madoff dies in prison – reports

Bernie Madoff, the financier who pleaded guilty to staging the biggest Ponzi program in history, died in a US federal prison, according to a source.

Madoff died early Wednesday at Federal Medical Center in Butner, North Carolina, apparently of natural causes, a person familiar with the matter told the Associated Press.

Last year, Madoff’s lawyers filed court files trying to get the 82-year-old out of jail in the Covid-19 pandemic.

The request was denied.

Madoff admitted cheating thousands of customers out of billions of dollars in investments over the decades.

A court-appointed trustee has reclaimed more than $ 13 billion (£ 9.4 billion) of an estimated $ 17.5 billion (£ 12.7 billion) that investors put into Madoff’s business.

At the time of his arrest, fake bank statements told customers they had $ 60 billion (£ 43.5 billion) in equity.


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