What happened to Bernie Madoff?
Bernie Madoff is currently in prison, serving his 150 year sentence for 11 federal felonies surrounding a massive fraud that bilked his clients out of an estimated $65 billion. He ran a Ponzi scheme for years, recording investment gains that just did not exist. He covered cash flow by bringing in new clients. The book “Truth and Consequences: Life Inside the Madoff Family” by Laurie Sandell covers the scandal with the help of Bernie’s wife, Ruth, and his son, Andrew.
Updated on Saturday, February 04 2012 at 11:44AM EST