Madoff briefly attended Brooklyn Law School, but left after his first year to found Bernard L. Madoff attended the University of Alabama for one year, where he became a brother of the Tau Chapter of the Sigma Alpha Mu fraternity, then transferred to and graduated from Hofstra University in 1960 with a Bachelor of Arts in political science.

Madoff graduated from Far Rockaway High School in 1956. He was the second of three children his siblings are Sondra Weiner and Peter Madoff. Madoff's grandparents were emigrants from Poland, Romania, and Austria.

Madoff was born on April 29, 1938, in Queens, New York City, the son of Sylvia (Muntner) and Ralph Madoff, who was a plumber and stockbroker. On April 14, 2021, he died at the Federal Medical Center, Butner, in North Carolina, after suffering from chronic kidney disease. On June 29, 2009, Madoff was sentenced to 150 years in prison, the maximum sentence allowed. The Securities Investor Protection Corporation (SIPC) trustee estimated actual losses to investors of $18 billion, of which $14.418 billion has been recovered and returned, while the search for additional funds continues. The amount missing from client accounts was almost $65 billion, including fabricated gains. Those charged with recovering the missing money believe that the investment operation may never have been legitimate. Madoff said that he began the Ponzi scheme in the early 1990s, but an ex-trader admitted in court to faking records for Madoff since the early 1970s. The Madoff investment scandal defrauded thousands of investors of billions of dollars. On March 12, 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme. Securities and Exchange Commission (SEC) had previously conducted multiple investigations into his business practices but had not uncovered the massive fraud. The following day, agents from the Federal Bureau of Investigation arrested Madoff and charged him with one count of securities fraud. On December 10, 2008, Madoff's sons Mark and Andrew told authorities that their father had confessed to them that the asset management unit of his firm was a massive Ponzi scheme, and quoted him as saying that it was 'one big lie'. Andrew died of lymphoma on September 3, 2014. Peter was sentenced to 10 years in prison in 2012, and Mark died by suicide by hanging in 2010, exactly two years after his father's arrest. ДЄt the firm, he employed his brother Peter Madoff as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as the firm's rules and compliance officer and attorney, and his now deceased sons Mark Madoff and Andrew Madoff. In 2008, the firm was the 6th largest market maker in S&P 500 stocks. He served as the company's chairman until his arrest on December 11, 2008. Madoff founded a penny stock brokerage in 1960, which eventually grew into Bernard L. He advanced the proliferation of electronic trading platforms and the concept of payment for order flow, which has been described as a 'legal kickback'. He was at one time chairman of the NASDAQ stock exchange. Kingdom Hearts 0.Securities fraud, investment advisor fraud, mail fraud, wire fraud, money laundering, false statements, perjury, making false filings with the SEC, theft from an employee benefit planДЎ50 years in prison, forfeiture of US$17.179 billion, lifetime ban from securities industryД«ernard Lawrence Madoff ( / Л€ m eЙЄ d Й”Лђ f/ MAY-doff April 29, 1938В вЂ“ April 14, 2021) was an American fraudster and financier who ran the largest Ponzi scheme in history, worth about $64.8 billion.Ace Attorney Investigations: Miles Edgeworth.Danganronpa Another Episode: Ultra Despair Girls.Phoenix Wright: Trials and Tribulations.

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