Bernard Lawrence Madoff

Bernard Lawrence Madoff  was an American market maker, investment advisor, financier, and convicted fraudster who served a federal prison sentence for offenses related to a massive Ponzi scheme.

 He was at one time non-executive chairman of the NASDAQ stock market, the confessed operator of the largest Ponzi scheme in world history, and the largest financial fraud in U.S. history.

 Prosecutors estimated the fraud to be worth $64.8 billion based on the amounts in the accounts of Madoff's 4,800 clients as of November 30, 2008.

Madoff founded a penny stock brokerage in 1960 which eventually grew into Bernard L. Madoff Investment Securities. He served as its chairman until his arrest on December 11, 2008.

 The firm was one of the top market maker businesses on Wall Street, which bypassed "specialist" firms by directly executing orders over the counter from retail brokers

He had criminal charge:  Securities fraud, investment advisor fraud, mail fraud, wire fraud, money laundering, false statements, perjury, making false filings with the SEC, theft from an employee benefit plan. On march 12, 2009 he was pleaded guilty and got 150-year prison term and forfeiture of US$17.179 billion

He had 2 children

• Mark Madoff (1964–2010)
• Andrew Madoff (1966–2014)

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