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Tag: Peter Madoff

Possibility of Charging Madoff Relatives Fading

Mark Madoff committed suicide/facebook photo

By Allan Lengel
ticklethewire.com

Nearly three years after the feds began investigating world-class swindler Bernie Madoff, it appears less and less likely charges will be filed against his brother, son and niece, the Associated Press reports.

AP reported that “people with knowledge of the case” said potential evidence against brother Peter Madoff, son Andrew Madoff and niece Shana Madoff was turned over to prosecutors in the spring and that a decision was expected by summer’s end.

“The U.S. attorney’s office in Manhattan hasn’t taken any action, suggesting any potential criminal evidence gleaned from a massive paper trail and the testimony of cooperators isn’t strong enough to conclusively prove that the three knew that Madoff spent decades orchestrating the largest Ponzi scheme in history, said the people, who spoke on condition of anonymity because a final decision hasn’t been announced,” AP wrote. “All three family members have denied any wrongdoing.”

AP reported that prosecutors have decided not charge Madoff’s wife Ruth. His son Mark, a former executive with the company, committed suicide last year, AP reported.

 

No Shocker: Madoff’s Brother Peter Under Criminal Investigation

Bernie Madoff/facebook photo

Bernie Madoff/facebook photo

By Allan Lengel
ticklethewire.com

It may come as little shock to most that ripoff king Bernie Madoff’s brother Peter Madoff is in trouble.

Bloomberg news service is reporting that Peter Madoff, the chief compliance officer at Bernard L. Madoff Investment Securities LLC, is the subject of a criminal investigation. The news came out in a civil suit.

The United States Attorney’s Office “has informed us that Peter Madoff is a subject of its criminal investigation,’’ attorney Charles Spada wrote to U.S. Magistrate Judge Madeline Cox Arleo in Newark, according to Bloomberg.

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