Ponzi scheme bernie madoff biography
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Ponzi scheme bernie madoff biography
Bernie Madoff
(1938-)
Who Was Bernie Madoff?
In 1960, Bernie Madoff used $5,000 he earned from lifeguarding and installing sprinkler systems to found his investment company.
Madoff's firm offered reliable returns, and his client list included celebrities like Steven Spielberg. Arrested for running an elaborate Ponzi scheme in December 2008, Madoff pleaded guilty to 11 felony counts in March 2009. That summer, the 71-year-old was sentenced to 150 years in prison.
READ MORE: Bernie Madoff: 6 Famous Victims of His Ponzi Scheme
Early Life
Bernard Lawrence Madoff was born on April 29, 1938, in Queens, New York, to parents Ralph and Sylvia Madoff.
Ralph, the child of Polish immigrants, worked for many years as a plumber.
Ponzi scheme bernie madoff biography wikipedia
His wife, Sylvia, was a housewife and the daughter of Romanian and Austrian immigrants. Ralph and Sylvia married in 1932, at the height of the Great Depression. After struggling financially for many years, they became involved in finance.
Records of Madoff's fi