The intricate fraud scheme involving Bernard L. Madoff Investment Securities was revealed in late 2008, after sole owner, Bernard Madoff admitted to a global Ponzi scheme that had been going on for decades, erasing approximately $65 billion from investors’ accounts. Bernard has presently completed his third year of his 150-year prison sentence and continues to claim that he acted alone. Despite Bernard’s claims, prosecutors have charged 13 defendants; Peter Madoff is the eighth to plead guilty. Peter began working for his brother’s brokerage firm in 1970 after he graduated from Fordham Law School. The brothers worked together to develop the
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