1. Justice

    Peter Madoff Gets 10 Years

    NEW YORK, NY - DECEMBER 20: Brother of convicted Ponzi king Bernard Madoff ,67-year-old Peter Madoff, arrives at U.S. District Court in Manhattan on December 20, 2012 in New York City. A plea agreement makes a 10-year prison term all but certain for Madoff who was convicted after he pleaded guilty to conspiracy and falsifying books and records of an investment adviser. (Photo by Spencer Platt/Getty Images)

    Spencer Platt/Getty

    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.”

    Read it at Bloomberg