Peter Madoff pleaded guilty to enabling his brother Bernard Madoff to pull off the biggest Ponzi scheme in U.S. history -- though Peter denied knowing the business was a sham until the firm collapsed.
Peter Madoff, who pleaded guilty to aiding Bernard Madoff’s fraud while claiming he didn’t know his older brother was running a vast, decades-long Ponzi scheme, was sentenced to 10 years in prison.
Five former employees of Bernard L. Madoff on trial for allegedly aiding his $17 billion Ponzi scheme were kept in the dark about the fraud and duped by his personality and reputation, a jury was told.
"I challenge you to be honest about all that you have done and all that you have seen."
- Peter Madoff on Dec 20, 2012