Peter Madoff Pleads Guilty in Brother Bernie's Scheme

Peter Madoff, the younger brother of Bernard Madoff, was has pleaded guilty to securities fraud related to his brother's infamous Ponzi scheme and will serve 10 years in prison. "The Madoff investment empire, built on a foundation of deceit, was a house of cards that grew to skyscraper proportions. As Peter Madoff has admitted today, he was one of the chief architects," FBI Assistant Director Janice Fedarcyk said. "Peter Madoff played an essential enabling role in the largest investment fraud...Full Story
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