Madoff’s brother sentenced to 10 years for fraud
Peter Madoff, brother of shamed US financier Bernard Madoff, was sentenced Thursday to 10 years in prison for cooking the books at the family investment firm.
Peter Madoff, 67, pleaded guilty to conspiracy to commit securities fraud during his role as book keeper for Bernard Madoff’s once widely heralded, but in fact fraudulent Wall Street firm.
The brother has also been slapped with stringent penalties that strip him of virtually everything he owns. Bernard Madoff is serving a 150-year sentence after pleading guilty to the enormous pyramid scheme.