Mr. Madoff, 66, agreed to serve 10 years in prison and forfeit all his assets. But in his guilty plea, he emphasized that at no time was he aware that his brother, Bernard, was orchestrating the largest Ponzi scheme in history.
NEW YORK — Peter Madoff will serve 10 years in prison for his role in his older brother’s multibillion-dollar Ponzi scheme, a U.S. judge said on Thursday.
Peter Madoff, 67, pleaded guilty in June to criminal charges including conspiracy to commit securities fraud for falsifying the books and records of the investment advisory company founded by his brother, Bernard Madoff.
I am deeply ashamed of my conduct. I accept full responsibility for my actions
NEW YORK — JPMorgan Chase & Co., already beset by other costly legal woes, has agreed to pay US$1.7 billion to settle criminal charges accusing the bank of ignoring obvious warning signs of Bernard Madoff’s massive Ponzi scheme, federal authorities said Tuesday.
The settlement includes a so-called deferred prosecution agreement that requires the bank to acknowledge failures in its protections against money laundering but also allows it to avoid criminal charges. No individual executives were accused of wrongdoing.
FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. Eight Lessons Investors Should Learn From Madoff's Ponzi Scheme (WealthManagement.com)
Jan. 4 (Bloomberg) -- The Treasury Department’s inspector general has threatened to punish JPMorgan Chase & Co. for failing to turn over documents to regulators investigating the bank’s ties to Bernard Madoff’s Ponzi scheme.