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Justice Peter Madoff Gets 10 Years Spencer Platt/Getty

Peter Madoff Gets 10 Years

Peter Madoff was sentenced to 10 years in prison on Thursday— the maximum punishment allowed by law—for aiding his brother’s Ponzi scheme. Madoff had admitted to aiding Bernard Madoff’s fraud, but denied any knowledge of the Ponzi scheme, a situation Judge Laura Taylor Swain described as “frankly, not believable.” Swain also sentenced Madoff to a year of probation after his release and approved a forfeiture order under which Madoff must give up all of his assets up to $143.1 billion. Swain also told Madoff to cooperate with investigators, saying, “I challenge you to be honest about all that you have done and all that you have seen.”

December 21, 2012 7:27 AM