Home Newsroom Ponzi scheme architect Bernie Madoff dies in prison at 82

Ponzi scheme architect Bernie Madoff dies in prison at 82

by Michael McDevit
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NEW YORK (Reuters) – Bernard Madoff, who for decades masqueraded as a successful and trustworthy Wall Street kingpin before admitting to running the largest known Ponzi scheme in history, died on Wednesday in prison where he was serving a 150-year sentence. He was 82.

A spokeswoman for the Federal Bureau of Prisons said Madoff died at the Federal Medical Center in Butner, North Carolina, about 3:30 a.m. EDT (0730 GMT).

His death was believed to be from natural causes. Madoff had suffered from terminal kidney disease and several other medical ailments.

Madoff was imprisoned for engineering a fraud estimated as high as $64.8 billion. The judge who sentenced him in June 2009 condemned his crimes as “extraordinarily evil.” In February 2020, Madoff had sought “compassionate release” from prison so he could die at home, but the same judge denied that request.

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