Ponzi scheme fraudster Bernie Madoff dies in prison aged 82

Madoff was convicted of defrauding thousands of investors, ranging from celebrities to normal working people, after his £65bn Ponzi scheme collapsed during the financial crisis in 2008. He was sentenced to 150 years in jail in 2009 after admitting the large scale fraud, the report said. His death was announced by the US Bureau of Prisons. Madoff started the Ponzi scheme in the early 1990s. The report added firm was investigated eight times by the US Securities and Exchange Commission because it made "exceptional returns". Suspicions were only aroused when investors caught in the gl...