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White criminal who bilked billions from Americans passed away while serving his 150 year sentence.
Bernie Madoff, best known for swindling Americans died in federal time out at the age of 82-years old.
His death Wednesday was at the Federal Medical Center in Butner North Carolina.
In February 2020, his lawyers petition the federal court to give him an early release because he's having terminal kidney failure and a life expectancy of less than 18 months.
The U.S. Attorney's office for the Southern District of New York said that Madoff's actions were "unprecedented in scope and magnitude" and it was reason enough to deny him an early out.
Judge Danny Chin who imposed the 150 years (LIFE) denied the request. He said that the people he swindled from are still struggling. He said that people committed suicide because of his actions.
It was "one of the most egregious financial crimes of our time," and one that continued to take "a staggering human toil."
Madoff and his family raked in millions off this ponzi scheme where he managed to charm investors into buying property and then he would end up trying to quick sell it and backtrack funds into his personal account. It was alleged that his wife, Ruth brother Peter and sons and niece all made millions off this scam,
Madoff who access to big names in politics, entertainment and social elites managed to charm them into making investments.
The feds figured his scam out and he was arrested on 11 federal charges. He was convicted of securities fraud, wire fraud, mail fraud, money laundering, making false statements, perjury, theft from an employee benefit plan and making false filings to the SEC.
The federal sandwich was heavy.
For a white collar criminal, Madoff got the most time ever for a non-violent criminal.
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