Bernie Madoff cause of death, net worth, wife, sons and education

Bernie Madoff cause of death, net worth, wife, sons and education
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Bernie Madoff has been in the news because Netflix recently released a docuseries named “Madoff: The Monster of Wall Street,” based on his life, know his cause of death and net worth

The world watched in horror as many of Wall Street’s leading institutions, investment companies, and financiers were exposed to everything from fraud and risky lending to predatory lending at the peak of the financial crisis in 2008.

Bernie Madoff cause of death, net worth, wife, sons, education, scandal

Bernard “Bernie” Madoff, who at the time was adored in the stock and investing world and served as chairman of Bernard L. Madoff Investment Securities, was one of many who fell from popularity during this period.

Despite the fact that much time has passed, he recently gained a lot of attention because “Madoff: The Monster of Wall Street,” the newest Netflix docuseries, delves deeply into the life and misdeeds of Madoff. He is remembered as the brains behind the biggest Ponzi scheme in history.

Since then, he has become the talk of the town, with many people trying to find out everything about him. So, let’s find out everything about him:

Who is Bernie Madoff?

Bernie Madoff was a notorious American fraudster and the mastermind behind the largest Ponzi scheme in history. He has been in the news because Netflix recently released a docuseries named “Madoff: The Monster of Wall Street,” based on his life.

His full name was Bernard Lawrence Madoff. He was born on April 29, 1938, in New York City, New York, U.S. His mother’s name is Sylvia Muntner, who was a homemaker, and his father’s name is Ralph Madoff, who was a plumber and stockbroker. He has two siblings, whose names are Sondra Weiner and Peter Madoff.

He did his schooling at Far Rockaway High School. Later, he attended the University of Alabama. However, after one year, he transferred to Hofstra University, where he graduated with a Bachelor of Arts in political science. He also attended Brooklyn Law School but dropped out after one year.

He married Ruth Alpern in 1959. They had two sons: Mark and Andrew. Later, both sons worked in the trade department with Charles Weiner, a paternal relative.

He died on April 14, 2021, in Butner, North Carolina, U.S. He was 82 years old when he died.

His Career

In 1960, Bernie Madoff established a penny stock firm that later developed into Bernard L. Madoff Investment Securities. The company served as a third market trading provider, executing retail brokers’ over-the-counter orders without the assistance of exchange-specialized companies.

He participated actively in the National Association of Securities Dealers (NASD), a body that self-regulates the securities sector. He was a member of the board of governors and the chairman of the board of directors.

On December 10, 2008, Mark and Andrew Madoff reported to authorities that their father had admitted to them that his company’s asset management division was a large Ponzi scam. The Federal Bureau of Investigation’s agents detained Bernie Madoff the following day and filed one case of securities fraud against him.

On March 12, 2009, Madoff acknowledged turning his wealth management company into a massive Ponzi scam and entered a plea of guilty to 11 federal charges. He received the maximum punishment of 150 years in jail on June 29, 2009.

Bernie Madoff’s death cause

He passed away from chronic renal disease on April 14, 2021, at the Federal Medical Center in Butner, North Carolina.

Net worth of Bernie Madoff

He had an estimated net worth of about $64.8 billion. In 2009 after his arrest, court filings determined that Madoff and his wife Ruth owned net assets worth between $823 million and $826 million with Bernie ending up with a net worth of $-17 billion.

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