Madoff Brother Gets 10 Years
New York, N.Y. – Peter Madoff was not believable--he was told during sentencing--when he claimed he was as surprised as anyone to learn his brother had blown $20 billion of investor money.
Peter Madoff was sentenced to ten years Thursday for is involvement in a multi-billion dollar Ponzi scheme.
He pleaded guilty to charges of conspiracy and falsifying books and records.
His brother Bernie is already serving a 150-year prison term for the massive Ponzi scheme that lasted decades.
The disbelief was a recurring theme at the sentencing proceeding Thursday for the 67-year-old former Chief Compliance Officer before U.S. District Judge Laura Taylor Swain in Manhattan.
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