Friday, June 29, 2012

Madoff brother held over Ponzi scheme link

Breaking news

The brother of convicted Ponzi scheme swindler Bernard Madoff has been arrested on charges relating to the multi-billion dollar fraud.

Peter Madoff, 66, will enter a plea to the charges in court in Manhattan, New York, later on Friday.

Bernard Madoff's Ponzi scheme, which had been running since the early 1990s, deprived thousands of investors of their savings.

He is serving a 150-year jail sentence after being convicted in 2009.



Source & Image : BBC

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