Bernie Madoff dead at 82
The author of one of the greatest investing Ponzi schemes of all time has died in prison, according to AP.
Madoff pled guilty to 11 crimes in 2009 and was sentenced to 150 years in prison for a fraud of around $64.8 billion.
He 'produced' sensational returns but they were entirely fraudulent as he used new investors' money to pay off existing clients who wanted case. He had 4800 clients and about half of them were returned no money in the mess of unwinding his firm.
His guilty plea was to protect his sons, who worked at the firm. However his eldest son Mark committed suicide in late 2010 and his other son Andrew died in 2014 due to mantle cell lymphoma.
