Peter Madoff Pleads Guilty But Says He Knew Nothing About A Ponzi Scheme

Could the $50 billion Bernard Madoff scandal turn out to have been a family affair? Close relatives of Bernard L. Madoff who held senior positions at his investment firm all say they had no inkling anything was amiss until he stunned them in December by saying that Bernard L. Madoff Investment Securities LLC was a Ponzi scheme.

NEW YORK — The brother of Ponzi scheme king Bernard Madoff (MAY’-dawf) is scheduled to plead guilty in New York in the criminal case resulting from the multibillion-dollar fraud. Peter Madoff is the former chief compliance officer at the private investment arm of Bernard Madoff’s business.

By Laurence Fletcher LONDON (