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Ponzi Scammer Bernie Madoff Dies In Federal Prison

Bernie Madoff died in a federal prison early on Wednesday morning. That news comes from Zeke Miller with the Associated Press, who said his source believes Madoff passed away from natural causes.

He was 82 years old.

Whoever the source, they aren’t at liberty to discuss the matter publicly. But they did tell the AP that Madoff died at the Federal Medical Center in Butner, North Carolina, and confirmed that it was from natural causes.

Madoff is most known for scamming thousands of clients with his notorious Ponzi scheme. He reportedly stole a total of $17.5 billion over several decades. He pleaded guilty to security fraud back in March of 2009, saying publicly that he was “deeply sorry and ashamed” of his actions.

U.S. District Judge Denny Chin sentenced Madoff to a maximum of 150 years in federal prison.

“He stole from the rich. He stole from the poor. He stole from the in between. He had no values,” former investor Tom Fitzmaurice told the judge back in 2009, via the AP. “He cheated his victims out of their money so he and his wife … could live a life of luxury beyond belief.”

Follow Clint Lamb on Twitter @ClintRLamb.

Written by Clint Lamb

Clint Lamb is a College Football Writer for OutKick. Managing Editor for Roll Tide Wire. Sports radio host for The Bullpen on 730/103.9 The UMP. Co-host for The 'Bama Beat podcast through The Tuscaloosa News and TideSports.com.

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  1. Bobby Bonilla benefited greatly from the Met’s owners and their greed due to the inflated financial statements from Madoff. About the only silver lining in this saga. (Another pay day for Bobby coming July 1.)

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