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Bernard Madoff, Mastermind of Giant Ponzi Scheme, Dies at 82

  • Investors lost more than $19 billion when his firm collapsed
  • His clients included sports owners, economists, billionaires
Bloomberg business news
Bernard Madoff Dead at Age 82
Updated on

Bernard Madoff, the Manhattan investment adviser who promised stellar returns to his A-list clients and instead defrauded them of more than $19 billion in history’s largest Ponzi scheme, has died. He was 82.

He died Wednesday, according to an emailed statement from Brandon Sample, Madoff’s attorney. No cause was given. Madoff’s home since July 2009 was the Butner Federal Correctional Complex in Butner, North Carolina, where he was serving a 150-year term. He requested compassionate early release, citing end-stage kidney disease, in February 2020.