Securities Law Prof Blog

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

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

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