Bernard Madoff Fast Facts

Here's a look at the life of Bernard Madoff, serving 150 yea...

Posted: Apr 9, 2018 10:26 AM
Updated: Apr 9, 2018 10:26 AM

Here's a look at the life of Bernard Madoff, serving 150 years in prison for running a multi-billion dollar Ponzi scheme.

Personal: Birth date: April 29, 1938

Birth place: Queens, New York

Birth name: Bernard Lawrence Madoff

Father: Ralph Madoff

Mother: Sylvia (Muntner) Madoff

Marriage: Ruth (Alpern) Madoff (November 1959-present)

Children: Andrew and Mark

Education: Hofstra University, B.A. Political Science, 1960

Other Facts: Started his firm with $5,000 he saved from working as a lifeguard.

Madoff served as NASDAQ's chairman in 1990, 1991 and 1993.

Had many high-profile victims, including director Steven Spielberg, actors Kevin Bacon and Kyra Sedgwick, and New York Mets owner Fred Wilpon.

In 2008, Madoff controlled billions in investments. In 2013, he earned $40 per month doing prison labor.

16,519 investors have filed claims against Madoff.

Timeline: 1960 - Bernard L. Madoff Investment Securities is founded.

December 10, 2008 - Bernard Madoff allegedly confesses to employees of his company that the asset management portion of his firm is actually a large Ponzi scheme. Madoff says the business had lost about $50 billion and that he plans to turn himself in to authorities in a week.

December 11, 2008 - Madoff is arrested on one count of securities fraud for allegedly operating a multibillion-dollar Ponzi scheme from his investment advisory business. He is released on $10 million bail.

December 12, 2008 - A federal court in Manhattan issues a temporary order freezing Madoff's assets and appointing a receiver over him and his firm.

December 17, 2008 - Madoff is placed on house arrest. Several bids by prosecutors to jail Madoff are denied by the court.

February 9, 2009 - The SEC and Madoff reach a partial settlement agreement. Under the terms of the deal, Madoff will keep a previously reached agreement to freeze his assets and not to violate any other securities laws. This is separate from the criminal charge Madoff faces.

March 12, 2009 - Madoff pleads guilty to eleven felony charges including: money laundering, perjury, false filings with the SEC and fraud. There is no deal with the government associated with the guilty plea.
-- US District Court Judge Denny Chin orders Madoff to Metropolitan Correctional Center following his confession.

March 20, 2009 - An appeals court rules that Madoff will remain in jail until sentencing.

April 1, 2009 - Federal marshals seize Madoff's yacht, a smaller boat, and one of his homes in Florida as court-ordered seizures of the financier's assets begin.

June 29, 2009 - Madoff is sentenced to 150 years in prison.

July 14, 2009 - Madoff arrives at Butner Federal Correction Complex in North Carolina to begin serving his sentence.

October 2, 2009 - A $199 million lawsuit is filed against Madoff's sons, his brother Peter Madoff and his niece Shana Madoff, who all worked at Madoff's firm.

December 11, 2010 - Mark Madoff, 46, commits suicide in his Manhattan apartment.

February 15, 2011 - In an interview from prison, Madoff tells a New York Times reporter that some banks and hedge funds "had to know."

June 4, 2011 - Final auction of personal property belonging to Madoff nets $500,000. To date, the total recovery from the Madoffs has been approximately $24 million in property sales and $80 million in cash assets.

September 20, 2012 - Trustee Irving Picard announces that victims of Madoff's Ponzi scheme will receive another $2.5 billion in reimbursement of their stolen funds. This brings the total amount returned to investors to $3.6 billion. Approximately half of the victims have been repaid.

January 22, 2014 - CNBC reports receiving an email from Madoff in which he says he had a heart attack in December of 2013 and that he has stage 4 kidney disease.

March 25, 2014 - Trustee Irving Picard announces plans to pay out an additional $349 million to Madoff's victims. Approximately $9.8 billion has been recovered so far.

September 3, 2014 - Son Andrew, Madoff's last surviving child, dies of cancer at age 48.

February 2015 - Another $355 million in recovered funds is distributed to Madoff's victims. Approximately $10.5 billion has been recovered so far.

February 1, 2016 - Trustees announce that more than $11.079 billion of the $17.5 billion in principle investment has been recovered to date.

November 9, 2017 - The US Department of Justice announces that it will begin paying out $772.5 million to more than 24,000 victims of Madoff's Ponzi scheme. The money comes out of the Madoff Victim Fund, an account the US government put together in 2013 to assist investors recover their lost funds.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 307519

Reported Deaths: 7096
CountyCasesDeaths
DeSoto20772248
Hinds19888408
Harrison17489302
Rankin13311275
Jackson13097243
Madison9895210
Lee9856169
Jones8290160
Forrest7523146
Lauderdale7187237
Lowndes6262144
Lamar610584
Lafayette6027117
Washington5280132
Bolivar4769129
Oktibbeha455297
Panola4442103
Pearl River4419139
Warren4280118
Marshall4273100
Pontotoc416472
Monroe4057132
Union403675
Neshoba3987176
Lincoln3869108
Hancock372085
Leflore3468124
Sunflower329389
Tate322681
Pike3180104
Scott310572
Yazoo304368
Alcorn297764
Itawamba296776
Copiah292965
Coahoma289677
Simpson287484
Tippah284668
Prentiss275659
Marion265779
Wayne261341
Leake261073
Grenada254982
Covington254580
Adams245882
Newton244859
George237847
Winston225981
Tishomingo222067
Jasper219748
Attala213273
Chickasaw204857
Holmes186471
Clay182454
Stone179131
Clarke176876
Tallahatchie175240
Calhoun163230
Yalobusha158836
Smith158534
Walthall130543
Greene129433
Lawrence126223
Noxubee125933
Montgomery125542
Perry125138
Carroll120826
Amite120041
Webster113432
Jefferson Davis105432
Tunica102525
Claiborne101330
Benton97225
Kemper95226
Humphreys94332
Franklin81823
Quitman78916
Choctaw72817
Jefferson64828
Wilkinson64727
Sharkey49617
Issaquena1686
Unassigned00

Alabama Coronavirus Cases

Cases: 518899

Reported Deaths: 10712
CountyCasesDeaths
Jefferson753641487
Mobile37763798
Madison33859494
Tuscaloosa25266443
Montgomery23962565
Shelby23106238
Baldwin20631300
Lee15524165
Calhoun14284311
Morgan14139268
Etowah13662345
Marshall11957219
Houston10380278
Elmore9993200
Limestone9811147
Cullman9470188
St. Clair9426234
Lauderdale9215227
DeKalb8746181
Talladega8058171
Walker7087275
Jackson6754110
Autauga6723103
Blount6483135
Colbert6203130
Coffee5399112
Dale4767110
Russell428838
Franklin419982
Chilton4083109
Covington4053114
Tallapoosa3893146
Escambia387674
Dallas3527149
Chambers3499122
Clarke346360
Marion3065100
Pike305875
Lawrence295395
Winston272372
Bibb256258
Marengo248661
Geneva245875
Pickens232959
Barbour224755
Hale218775
Butler212266
Fayette208960
Henry187844
Cherokee182044
Randolph176941
Monroe171440
Washington164038
Macon154548
Clay149354
Crenshaw149257
Cleburne146041
Lamar139234
Lowndes136453
Wilcox124327
Bullock121340
Conecuh109028
Perry107926
Sumter102932
Coosa99228
Greene90734
Choctaw58724
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