Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Thursday, June 28, 2012

Peter Madoff Expected to Plead Guilty Today

Peter Madoff, brother of Bernard, will plead guilty to criminal charges and accept a prison term of 10 years today.  He has agreed to forfeit $143 billion.  The plea does not involve any admission that Peter knew about the illegal Ponzi scheme, but confirms allegations that he was a sham compiance officer who exercised no effective oversight over the firm's operations.

NYTimes, Madoff’s Brother Sets Plea Deal in Ponzi Case

http://lawprofessors.typepad.com/securities/2012/06/peter-madoff-expected-to-plead-guilty-today.html

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