Bernie Madoff, who orchestrated the largest Ponzi scheme in history, died in a federal prison Wednesday. The 82-year-old inmate was reported dead at the Federal Medical Center in Butner, North Carolina, apparently from natural causes.
Madoff pleaded guilty to a Ponzi scheme whereby he swindled thousands of clients out of billions of dollars in investments. He was a former chairman of the Nasdaq stock market and counted among his clients such powerhouses as Steven Spielberg and Sandy Koufax.
Here is a video report on the financial swindler from The History Channel. The piece is entitled, “Ripped Off: Madoff and The Scamming of America.”