Ernie Madoff, 71, was convicted of operating a Ponzi scheme and defrauding thousands of investors. He pleaded guilty in March to 11 counts, including fraud, money laundering and perjury, and was sentenced to 150 years in prison. Prosecutors have said it was the largest investor fraud ever committed by one person, amounting in billions of dollars stolen from investors. Madoff once owned million dollar estates in Manhattan, Montauk on New York’s Long Island; Palm Beach, Florida; and in Cap d’Antibe, France.
Posts Tagged ‘money laundering’
October 23rd, 2009 AT2W Staff