On June 29, 2012, the Peter Madoff, the brother of convicted felon Bernie Madoff, plead guilty to the following charges:
- One count of conspiracy to commit securities fraud
- One count of falsifying records
Mr Madoff agreed to the forfeiture of more than $143.1 billion which represents all of the investor funds that were paid into BLMIS from 1996 through 2008. Additionally, Mr Madoff could face a 10 year prison sentence.
For further fascinating information about the actual charges and history of the case, read the full text of the government’s charges that were filed against him.