Bernard Lawrence “Bernie” Madoff (1938-alive), usually simply known as Bernard Madoff, is an American fraudster and a former hedge fund manager and financier.
He is famous for being the author of the greatest financial fraud of all times, the so-called Madoff Investment Scandal, happened in 2008 at the peak of the Great Recession.
In the past, Madoff has been the Chairman of the NASDAQ, as well as one of the major supporters of the launch of the same stock market in 1971; he has been also ad advisor to the Security and Exchange Commission and the founder of the investment firm Bernard L. Madoff Investment Securities, LLC.
After defrauding his clients for about $64 billion, Madoff was found guilty of eleven federal crimes, sentenced to 150 years in prison and to give back $170 billion to his former investors.
He is currently serving his sentence at the Federal Correctional Complex in Butner, North Carolina.