Bernie Madoff, disgraced Ponzi schemer, dies in US prison at 82

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Bernie Madoff, a Wall Street financier who was convicted for running the largest known Ponzi scheme in history, died on Wednesday, April 14, in prison at age 82.

His death was announced by the US Bureau of Prisons.

Mr. Madoff had been serving a 150-year sentence after he pleaded guilty in 2009 to running a Ponzi scheme, which paid investors with money from new clients rather than actual profits.

Mr. Madoff for decades presented himself as a successful and trusted Wall Street kingpin while secretly engaging in investment fraud, prompting his sentencing judge to condemn his crimes as “extraordinarily evil.”

It collapsed during 2008 financial crisis.

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