Disgraced financier Bernard “Bernie” L. Madoff died at the age of 82 in prison, according to The Associated Press.
Madoff was the now infamous architect of “an epic securities swindle that burned thousands of investors, outfoxed regulators and earned him a 150-year prison term” according to the AP.
The late former senior statesman of Wall Street was confirmed by the Bureau of Prisons, who indicated that the Ponzi scheme creator died at the Federal Medical Center in Butner North Carolina.
Madoff’s attorney’s petitioned for him to be released from prison during the height of the coronavirus pandemic due to his end-stage renal disease and other medical conditions, but his request was denied.
During a recent phone interview with The Washington Post Madoff offered his remorse over his misdeeds, saying that his time swindling the innocent was a “terrible mistake.”
“I’m terminally ill,” he said. “There’s no cure for my type of disease. So, you know, I’ve served. I’ve served 11 years already, and, quite frankly, I’ve suffered through it.”
One of Madoff’s attorney’s indicated on Wednesday that they believe the financier-turned inmate died of natural causes related to his failing health.
According to The New York Times, Madoff plead guilty to his financial crimes early in 2009, including securities fraud and other money schemes. He said at the time he was “deeply sorry and ashamed.”
“He stole from the rich. He stole from the poor. He stole from the in between. He had no values,” former investor Tom Fitzmaurice told the judge at the sentencing. “He cheated his victims out of their money so he and his wife … could live a life of luxury beyond belief.”