Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, has died aged 82.
Last year, Bernie Madoff requested early release from prison, citing health problems. In an interview with The Washington Post, he said:
“I’m terminally ill. There’s no cure for my type of disease. So, you know, I’ve served. I’ve served 11 years already, and, quite frankly, I’ve suffered through it.”
The request was denied.
Bernie Madoff dies aged 82
Bernie Madoff has died aged 82 and his death was announced by the Bureau of Prisons.
He had been serving a 150-year sentence after he pleaded guilty in 2009 to running a Ponzi scheme.
In a statement, Bernie Madoff’s lawyer said: “Bernie, up until his death, lived with guilt and remorse for his crimes.”
“Although the crimes Bernie was convicted of have come to define who he was – he was also a father and a husband. He was soft spoken and an intellectual. Bernie was by no means perfect. But no man is.”
Last year, Bernie Madoff’s lawyers filed court papers to try to get him released from prison, saying he had suffered from end-stage renal disease and other chronic medical conditions. However, the request was denied.
What is Bernie Madoff’s net worth?
Court records in 2009 showed that Bernie Madoff owned net assets of at least $823 million as of the close of 2008, ABCNews reported.
The statement, signed by Madoff on December 31st 2008, listed total assets between $823 million and $826 million, and total liabilities of $265,000.
The court broke down his assets as such:
- Property: Homes in Manhattan, Palm Beach, Montauk and France worth $22m (£19m)
- Cash: $17m (£15m)
- Four boats: $9.3m (£8m)
- Half ownership of a charter jet: $12m (£10m)
- His wife Ruth Madoff’s jewellery: $2.6m (£2.3m)
- A Steinway piano and silverware: $104,000 (£75.5k)
- Securities: $45m (£33m)
- Madoff’s ownership in his investment business: $700m (£608m)