X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Bernard Madoff exits Manhattan federal court in 2009. Photo: Louis Lanzano/AP Bernard Madoff exits Manhattan federal court in 2009. Photo: Louis Lanzano/AP

Bernie Madoff, the architect of one of the largest Ponzi schemes in American history, which  defrauded tens of thousands of investors of more than $65 billion, died in prison Wednesday at age 82.

Madoff was a fixture on Wall Street for decades, including presiding as the one-time chairman of the Nasdaq Stock Market. But when the 2008 financial crisis hit, many of his clients sought to liquidate their investments. That was a problem because without any new investments coming in with an amount sufficient to cover those liquidation claims, Madoff’s fraud was uncovered.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.