Jail time for Madoff’s brother

Peter Madoff is heading to jail for his role in brother Bernie’s multibillion-dollar Ponzi scheme, reports The Financial Times.

The 67 year old pleaded guilty to charges including conspiracy to commit securities fraud. He was formerly chief compliance officer and a senior managing director at Bernard L. Madoff Investment Securities.

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Schneiderman scores $210M settlement over Madoff losses

Fraudsters pocket $15 million in “Madoff deal”

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.