News Column

Reports: Bernard Madoff Sentenced to 150 Years in Prison

June 29, 2009 Staff

Bernard "Bernie" Madoff, who for years perpetrated a multi-billion-dollar Ponzi scheme, was sentenced to 150 years in prison according to published reports.

Madoff, the former non-executive chairman of the NASDAQ stock exchange, pled guilty to 11 counts. Founded by Madoff in 1960, Bernard L. Madoff Investment Securities LLC served as Chairman until his arrest on Dec. 11, 2008. He was charged, among other things, with four types of fraud (securities, investment advisor, mail, and wire), theft from an employee benefits plans, laundering money, perjury, and making false filings with the SEC.

Source: (c) 2009. All rights reserved.

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