Peter Madoff

[Gentle Giant]

Bernie's brother: http://antifraudintl.org/showthread.php?21980


Peter Madoff, Bernie Madoff's Brother, To Forfeit $143.1 Billion On Fraud Charges

AP | By LARRY NEUMEISTER Posted: 06/27/2012 4:40 pm Updated: 06/27/2012 5:26 pm

NEW YORK (AP) — The brother of Ponzi scheme king Bernard Madoff (MAY'-dawf) is scheduled to plead guilty in New York this week in the criminal case resulting from the multibillion-dollar fraud.

Peter Madoff is the former chief compliance officer at the private investment arm of Bernard Madoff's business.

Court papers signed by a federal judge in Manhattan on Wednesday show Peter Madoff will plead guilty on Friday. Madoff also agreed to the criminal forfeiture of $143.1 billion, including all of his real and personal property.

Madoff agrees to serve 10 years in prison. (10 years? What??)

His attorney hasn't returned an email seeking comment.

Bernard Madoff pleaded guilty to fraud and is locked up in prison in Butner, N.C.

http://www.huffingtonpost.com/2012/0...n_1632124.html

[Spidey]

10 years?!?! Bernie got 150!

[Sphinx]

Peter has to pay back more than Bernie did. Imagine how proud their mother would be--two boys in prison at the same time.

[JoeNinety]

Neither of them are even close to having sufficient assets to cover the losses of their victims, which I why I think ten years is a ridiculously lenient sentence.
At 66 years of age, early parole or not, he is likely to die a free man. For me that is unjust.

[Jessica]

I agree. Peter needs 150 years or whatever it was like Bernie.

[Michael R]

I can't believe I missed this whole news story. I don't remember reading this in the paper or seeing it on TV. This obviously did not get as much press as Bernie's case.

[Kat]

http://www.huffingtonpost.com/2012/1...n_2341300.html

NEW YORK, Dec 20 (Reuters) - Peter Madoff will serve 10 years in prison for his role in his older brother's multibillion-dollar Ponzi scheme, a U.S. judge said Thursday.

Peter Madoff, 67, pleaded guilty in June to criminal charges including conspiracy to commit securities fraud for falsifying the books and records of the investment advisory company founded by his brother, Bernard Madoff.

He agreed at the time not to oppose a request by prosecutors for a maximum 10-year prison sentence and agreed to an order requiring him to forfeit a symbolic $143.1 billion. U.S. District Court Judge Laura Taylor Swain approved the sentence on Thursday.......