Peter Madoff Admits Aiding Brother’s Ponzi Scheme
This article is for subscribers only.
Peter Madoff pleaded guilty to enabling his brother Bernard Madoff to pull off the biggest Ponzi scheme in U.S. history -- though Peter denied knowing the business was a sham until the firm collapsed.
The chief compliance officer of Bernard L. Madoff Investment Securities LLC, or BLMIS, who helped his brother run the firm for four decades, Peter Madoff pleaded guilty yesterday in Manhattan federal court to one count of conspiracy to commit securities fraud and one count of falsifying records. The plea came three years to the day after his brother was sentenced to 150 years in prison.