Question Description
Bernie Madoff
On July 24, 2009, convicted Ponzi schemer and formerly wealthy investment counselor Bernard (Bernie) Madoff arrived by prison bus at the federal correctional institution in Butner, North Carolina, to begin serving a 150-year sentence.i The 71-year-old Madoff had been convicted only days earlier of multiple fraud and securities violations stemming from a scheme in which he exploited thousands of clients who had entrusted him with their money for over 20 years. Among his victims were very wealthy people from places as diverse as New York City and Palm Beach, Florida.ii
Some estimates put losses to investors as high
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