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Bernard Madoff Facts

Former American stockbroker, entrepreneur, and investor

  • Bernard Lawrence Madoff was born on April 29, 1938.
  • He is the son of Sylvia and Ralph Madoff. His grandparents were Jewish emigrants from Poland, Romania and Austria
  • Bernie Madoff served as the executive chairman of the NASDAQ stock market
  • He is known for his infamous Ponzi scheme, which he admitted to begin in early 1990s. However, it is widely believed that the fraud began as early as in the 1970s.
  • His fraud is considered as the biggest financial fraud in the history of U.S..
  • Madoff pleaded guilty to defrauding thousands of investors of billions of dollars. He pleaded guilty to 11 federal felonies in March 2009.
  • Bernie Madoff was sentenced to 150 years of prison on June 29, 2009.
  • His 150-year sentence is the maximum punishment allowed. His lawyers have originally asked for a 7 year sentence considering his old age.
  • He founded the Wall Street firm Bernard L Madoff Investment Securities LLC in 1960. Bernie served as its chairman until his arrest on December 11, 2008
  • Film actor Robert De Niro is set to star in a movie produced by HBO based on Bernard Madoff
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