Bernie Madoff, infamous investment broker and economic advisor behind the biggest fraud scheme in American history, has died in prison at the age of 82.
“Madoff was serving a 150-year sentence at the federal prison care center in Butner, North Carolina, where he was being treated for what his attorney called terminal kidney disease,” reports CNBC.
BREAKING: Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, has died in a federal prison, AP source says. https://t.co/pfJvAcltxZ
— The Associated Press (@AP) April 14, 2021
“He pleaded guilty in 2009 to a scheme that investigators said started in the early 1970s and defrauded as many as 37,000 people in 136 countries over four decades by the time Madoff was busted on Dec. 11, 2008 — after his two sons turned him in. Victims included the famous — director Steven Spielberg, actor Kevin Bacon, former New York Mets owner Fred Wilpon, Hall of Fame pitcher Sandy Koufax and Nobel Peace Prize winner Elie Weisel — and ordinary investors, like Burt Ross, who lost $5 million in the scheme,” adds the financial website.
“I thought this would be only a short-term trade which could be made up once the market became receptive,” Madoff once claimed. “The rest is my tragic history of never being able to recover.”
This is a developing story. Check back for updates.
JARRETT ON HANNITY: Feds Believe Michael Avenatti the ‘Bernie Madoff of Lawyers’
Fox News’ Gregg Jarrett stopped by ‘Hannity’ Thursday night to weigh-in on recent charges against celebrity lawyer Michael Avenatti; saying the attorney better “throw away the Armani suits and get used to a jumpsuit” if federal allegations are proven true.
“He deserves the presumption of innocence and due process,” said Hannity.
“Absolutely he does. I’ve read through the 61-page indictment, if the Feds can prove just a fraction of this then Avenatti better throw away the Armani suits and get used to a jumpsuit. The Feds say he was essentially the Bernie Madoff of lawyers… The pyramid eventually just came crashing down around him,” added Jarrett.
Watch Jarrett on ‘Hannity’ above.
AVENATTI UPDATE: Michael Avenatti Speaks with Reporters after Arrest in LA
Celebrity lawyer Michael Avenatti spoke with reporters Wednesday night after his sudden arrest on charges of ‘Felony Domestic Violence,’ saying he would “never strike a woman” and will be “fully exonerated” in time.
“I am not going to be intimidated from stopping what I am doing,” said Michael Avenatti Wednesday night after he was arrested on suspicion of domestic violence earlier in the day. https://t.co/WtVskGeTxu pic.twitter.com/p9lTq2BFIH
— CBS News (@CBSNews) November 15, 2018
“I have never struck a woman. I never will strike a woman. I have been an advocate for women’s rights my entire career and I’m going to continue being an advocate. I’m not going to be intimidated from stopping what I’m doing,” said Avenatti.
“I’m the father to two beautiful, smart daughters. I would never disrespect them by touching a woman inappropriately or striking a woman. I am looking forward to a full investigation at which point I am confident I will be fully exonerated,” he added.