Bernie Madoff, financier behind largest Ponzi scheme in history, dies in prison

Bernard Madoff, the one-time Wall Street titan who orchestrated one of the largest frauds in history, has died in prison aged 82.

Madoff, known as Bernie, was a former chairman of the Nasdaq stock exchange, and was regarded for years as an investment sage. But unbeknown to his thousands of victims, he was running a Ponzi scheme that wiped out at least $17.5bn in savings.

Imposing a 150-year sentence in 2009, judge Denny Chin called Madoff’s crimes “extraordinarily evil”. His criminal behavior devastated the lives of his victims, leading to suicides, bankruptcies and home losses.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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