Peter Madoff, brother of disgraced financier Bernie Madoff, has been released from federal custody. He served a 10-year sentence in a federal prison in Miami for his involvement in his brother’s Ponzi scheme, which was worth almost $65 billion — the largest in history and one that inflicted heavy financial losses on investors, many of them Jewish.
In June 2012, under a plea deal, he admitted guilt to charges of conspiracy and fabricating investment records. He was sentenced the following December and was transferred from the Miami federal prison to home confinement in November 2019. Bernie Madoff, 82, pleaded guilty to 11 crimes in 2009 and is currently serving a 150-year sentence at a federal prison in Butner, NC.