Bernie Madoff dead at 82

Bernie Madoff, the financier who pleaded guilty to running the largest Ponzi scheme in history, has died at the age of 82.

The Federal Bureau of Prisons confirmed that he died Wednesday at the Federal Medical Center in Butner, N.C.

The Associated Press cited a source saying he died from natural causes. The Federal Bureau of Prisons declined to reveal the cause of death, citing a policy of not sharing that information with the public.

Madoff was serving a 150-year prison sentence after being arrested in 2008 and sentenced a year later for his crimes. He pleaded guilty to all charges.

The fraud scheme lasted decades, ending around the financial crisis of 2007. He defrauded more than 4,800 clients of nearly $65 billion in the process.

Madoff’s lawyers had asked for him to be released from prison in 2020 because he was suffering from renal disease and chronic medical problems, the AP reported. Their request was denied.

Updated at 11:58 a.m.

Tags Bernie Madoff Ponzi scheme

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