Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Bernie Madoff’s brother jailed over Ponzi

Bernie Madoff’s brother jailed over Ponzi

Peter Madoff has been sentenced to 10 years in jail for this part in brother Bernard Madoff’s $20 billion (£12 billion) Ponzi scheme.

US district court judge Laura Swain yesterday approved a 10-year sentence for charges including conspiracy to commit securities fraud by falsifying the book and records of the Madoff investment company.

Peter Madoff had agreed in June not to oppose the request by prosecutors for a maximum 10-year prison sentence. He has also been ordered to forfeit a symbolic $143.1 billion.

‘I am deeply ashamed of my conduct,’ he said at the sentencing. ‘I accept full responsibility for my actions.’

Bernard Madoff was sentenced in 2009 to a 150-year prison term and ordered to forfeit $170.8 billion.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: change is the only constant for Quilter Cheviot

Profile: change is the only constant for Quilter Cheviot

This is not the first time we have profiled David Miller, but at the time of his previous appearance his company looked very different.

Wealth Manager on Twitter