The American former businessman, investor and convicted fraud Bernard (Bernie) Madoff died in prison. That reports the U.S. Federal Department of Detention, the government organization responsible for the prisons.
Madoff was convicted in 2009 for large-scale scams. He lost nearly EUR 60 billion in a pyramid game that affected thousands of investors. The victims were private individuals, charities and pension funds. Among them were possibly hundreds of Dutch people.
Last year, his lawyers tried to get him out of jail. He said he was dying because of severe renal failure. A judge called it “very sorry” that Madoff is sick, but saw no reason to release him. “When I condemned Mr. Madoff in 2009, it was absolutely my intention that he would spend the rest of his life in captivity.”
Madoff was 82 years old.
thousands of victims
Famous victims of the master swindler included actors Kevin Bacon, Kyra Sedgwick and John Malkovich. Also a charity associated with director Steven Spielberg lost a lot of money. “We thought he was God. We entrusted him with everything,” said winner of the Nobel Peace Prize Elie Wiesel. His foundation lost almost 13 million euros, he said in 2009.
Madoffs two sons made his crimes public in 2008. They werent part of the fraud. Madoff confessed guilt and was sentenced to 150 years imprisonment in 2009. One of his sons later committed suicide, exactly two years after he reported his father to the authorities.
In 2010, Madoffs belongings were auctioned. The proceeds from that went to his victims. Among other things, his slippers then went under the hammer. They brought in 6,000 dollars.