Peter Madoff sentenced to 10 years in prison
NEW YORK, NY – When there`s a lot of money involved and a lot of money lost, tensions will rise. And it was certainly tense in a Manhattan courtroom as Peter Madoff went face-to-face with investors who lost their savings in a Ponzi scheme.
Peter is Bernard Madoff`s brother, the guy who was behind the huge Ponzi scheme that put Bernie behind bars for 150 years.
In June, Peter plead guilty to criminal charges, including conspiracy to commit securities fraud and for falsifying books and records for his brother`s company. Peter`s plea deal guarantees him a 10-year-prson sentenced and a $143 billion fine.
You know how they say the apple doesn`t fall far from the tree. Well, it looks like sometimes two rotten apples fall close together.