Peter Madoff Pleads Guilty

ALL IN THE FAMILY

Updated Apr. 21, 2017 4:39PM EDT / Published Jun. 29, 2012 1:07PM EDT

Bernie Madoff’s younger brother Peter pled guilty on Friday to conspiracy in Berine’s massive conspiracy theory. Peter admitted Friday that he lied to investors and falsified documents while he was chief compliance officer of his brother’s hedge fund. Under the terms of the plea agreement, Peter faces 10 years in prison and his $143 million fortune must be paid in criminal forfeiture. The court-appointed trustee said Peter pocketed $61 million for himself.

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Peter Madoff Pleads Guilty