Bernard L. Madoff, a boy from Queens who went on to perpetrate one of the most infamous frauds in Wall Street history, died Wednesday in a federal prison, according to multiple reports. He was 82. In a February 2020 court filing, Madoff said he was entering the final stages of kidney disease and asked for an early prison release, which was not granted. Madoff, a financier who began his career in the 1960s, was the reason that generations of Americans learned about the elaborate hoax known as a Ponzi scheme, which involves paying early investors with the funds from later investors, while portraying those payments as actual profits.
Bernie Madoff, Financier Who Operated The Largest Ponzi Scheme In History, Dies
Katy Steinmetz, Time: Business
Wed, 04/14/2021 - 7:02am
Topics: americans charles ponzi new york mets fred wilpon steven spielberg elie wiesel foundation humanity he miriam siegman laurelton jewish hofstra university hempstead n.y bernard l madoff investment securities nasdaq u.s securities exchange commission damon winter&mdash new york times/reduxbernie madoff york march stricken washington post i&rsquo ruth andrew madoff mark madoff ldquo;his michael moore madoff bernard l madoff queens wall street february american ponzi madoff&rsquo york bernie madoff financier operated largest history financial firm investors early prison victims including years case crisis food estimated family court disease served release losses closed believed charged fraud earned died director funds
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