Peter Madoff Gets 10 Years, Is Ordered to Pay $143B, for His Role in Brother’s Ponzi Scheme

Imposing a sentence that had been agreed to months earlier, at a Thursday hearing that gave victims a chance to make their feelings known, a federal judge in Manhattan gave Peter Madoff a 10-year prison term for his role in his brother Bernard Madoff’s infamous Ponzi scheme. An attorney by training, Peter Madoff, now 67, served as chief compliance officer for a swindle that reportedly cost investors nearly $20 billion in principal and previously earned mastermind Bernard Madoff, now 74, a 150-year term. The younger brother admittedly falsified books and records for the purported hedge fund that served as a…

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Peter Madoff Gets 10 Years, Is Ordered to Pay $143B, for His Role in Brother’s Ponzi Scheme