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1. www.investopedia.com › terms › bBernie Madoff: Who He Was, How His Ponzi Scheme Worked

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   Dec 20, 2023 · Bernie Madoff was an American financier who executed the largest Ponzi scheme in history, defrauding thousands of investors out of tens of billions of dollars over the course of at least 17 years. He died in prison in 2021 while serving a 150-year sentence for money laundering, securities fraud, and other felonies. Learn about his life, career, scandal, and crime.

2. en.wikipedia.org › wiki › Madoff_investment_scandalMadoff investment scandal - Wikipedia

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   On March 12, 2009, Madoff pleaded guilty to 11 federal crimes and admitted to operating the largest Ponzi scheme in history. [5] [6] On June 29, 2009, he was sentenced to 150 years in prison, the maximum sentence allowed, with restitution of $170 billion. He died in prison in 2021. [7]

   • Conviction(s): March 12, 2009 (pled guilty)

   • Criminal status: Deceased (formerly inmate #61727-054 at FCI Butner Correctional Complex)

3. www.businessinsider.com › how-bernie-madoffs-ponziHow Bernie Madoff's Ponzi Scheme Worked - Business Insider

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   Madoff used a so-called Ponzi scheme, which lures investors in by guaranteeing unusually high returns. The name originated with Charles Ponzi, who promised 50% returns on investments in only 90...

4. www.nytimes.com › business › bernie-madoff-deadBernie Madoff, Architect of Largest Ponzi Scheme in History ...

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   Apr 14, 2021 · Bernard Madoff, Architect of Largest Ponzi Scheme in History, Is Dead at 82. His enormous fraud left behind a devastating human toll and paper losses totaling $64.8 billion. Share full...

   • Author: Diana B. Henriques

5. en.wikipedia.org › wiki › Bernie_MadoffBernie Madoff - Wikipedia

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   Bernard Lawrence Madoff ( / ˈmeɪdɔːf / MAY-dawf; [2] April 29, 1938 – April 14, 2021) was an American financial criminal and financier who was the admitted mastermind of the largest known Ponzi scheme in history, worth an estimated $65 billion. [3] [4] He was at one time chairman of the Nasdaq stock exchange. [5]

   • Criminal status: Deceased

   • Date apprehended: December 11, 2008

6. www.britannica.com › biography › Bernie-MadoffBernie Madoff | Biography, Ponzi Scheme, & Facts | Britannica

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   May 2, 2024 · Bernie Madoff was an American hedge-fund investment manager and former chairman of the NASDAQ stock market. He was best known for operating history’s largest Ponzi scheme. In 2009 he pled guilty to various charges and was sentenced to 150 years in prison. Learn more about his life and crimes.

7. People also ask

   What was Bernie Madoff's Ponzi scheme?

   • Bernie Madoff was a money manager responsible for one of the largest financial frauds in modern-day history. Bernie Madoff's Ponzi scheme, which likely ran for decades, defrauded thousands of investors out of tens of billions of dollars.

   Bernie Madoff: Who He Was, How His Ponzi Scheme Worked - Investo…

   www.investopedia.com/terms/b/bernard-madoff.asp

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   What is Madoff's Ponzi scheme?

   • Madoff used a so-called Ponzi scheme, which lures investors in by guaranteeing unusually high returns. The name originated with Charles Ponzi, who promised 50% returns on investments in only 90 days. Ponzi schemes are run by a central operator, who uses the money from new, incoming investors to pay off the promised returns to older ones.

   How Bernie Madoff's Ponzi Scheme Worked - Business Insider

   www.businessinsider.com/how-bernie-madoffs-ponzi-scheme-worked-2014-7

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   What happened to Bernie Madoff?

   • Even now, only a few of his victims have since regained all of their losses. A well-respected financier, Madoff convinced thousands of investors to hand over their savings, falsely promising consistent profits in return. He was caught in December 2008 and charged with 11 counts of fraud, money laundering, perjury, and theft.

   How Bernie Madoff's Ponzi Scheme Worked - Business Insider

   www.businessinsider.com/how-bernie-madoffs-ponzi-scheme-worked-2014-7

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   Did Madoff get 150 years for Ponzi scheme?

   • "Madoff Sentenced to 150 Years for Ponzi Scheme". The New York Times. Retrieved June 29, 2009. ^ "Fraudster Madoff gets 150 years". BBC News. June 29, 2009. Retrieved June 29, 2009. ^ Zambito, Thomas; Martinez, Jose; Siemaszko, Corky (June 29, 2009). "Bye, Bye Bernie: Ponzi king Madoff sentenced to 150 years".

   Madoff investment scandal - Wikipedia

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8. www.npr.org › 2021/04/14 › 987165621Bernie Madoff, Whose Ponzi Scheme Bilked Thousands ... - NPR

   www.npr.org › 2021/04/14 › 987165621

   Apr 14, 2021 · Bernie Madoff, who carried out one of the most notorious Ponzi schemes in history, died on Wednesday while serving a prison sentence in North Carolina. Madoff was a legendary figure on Wall...