On This Day

Bernie Madoff

Financier and Fraudster Bernie Madoff

Full Name: Bernard Lawrence Madoff
Profession: Financier and Fraudster

Nationality:
United States of America
American

Biography: In 2008 Bernie Madoff was uncovered as the head of the world's largest Ponzi scheme. About 4,800 investors had lost more than 21 billion to the New York financier.

Starting legitimately Madoff opened a London office in 1983 and went international. His fraudulent empire began to collapse in 2008 and he was arrested by the FBI in September of that year. In 2009 he pleaded guilty to 11 counts of fraud, theft and money laundering and was given the maximum sentence of 150 years in prison. He died in prison in 2021.

Born: April 29, 1938
Birthplace: New York City, New York, USA

Generation: Silent Generation
Chinese Zodiac: Tiger
Star Sign: Taurus

Died: April 14, 2021 (aged 82)
Cause of Death: Natural causes while incarcerated

Historical Events

  • 2008-12-11 Bernie Madoff arrested and charged with securities fraud in $50 billion Ponzi scheme
  • 2009-06-29 Financier Bernie Madoff sentenced to 150 years in US maximum prison, for conducting a massive Ponzi scheme

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