Peter Madoff, the younger brother of the convicted fraudster Bernard L. Madoff, is expected to plead guilty to securities fraud, according to a court filing made by prosecutors on Wednesday.
On Friday, according to the government, Mr. Madoff is expected to appear in Federal District Court in Manhattan and admit to, among other things, falsifying records, making false statements to securities regulators and obstructing the work of the Internal Revenue Service.
He has agreed to a prison term of 10 years, the government said.
Peter Madoff’s brother, Bernard Madoff, is serving a 150-year prison sentence at a federal penitentiary in North Carolina after pleading guilty to orchestrating a huge Ponzi scheme that swindled his investors of about $20 billion.
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