Peter Madoff Gets 10 Years Over Brother's Ponzi Scheme
He will probably lose all his assets, too
By John Johnson, Newser Staff
Posted Dec 20, 2012 5:38 PM CST
Peter Madoff arrirves at Manhattan federal court for his sentencing Thursday.   (AP Photo/ Louis Lanzano)

(Newser) – Bernie Madoff's younger brother got sentenced to 10 years in prison today after admitting to crimes such as falsifying documents and lying to regulators. But Peter Madoff, 67, continued to insist he didn't know about Bernie's massive Ponzi scheme, a claim the judge called "frankly not believable," reports AP. Peter Madoff's plea deal also calls for him to forfeit $143 billion. He doesn't have it, but the New York Times says it's a "clear signal that the government will seize all of his assets and distribute them to victims." Five others face trial next year for their alleged roles in the scheme.

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Showing 3 of 15 comments
Dec 21, 2012 9:13 PM CST
Everyone of the company officiers should be indicted.
Dec 21, 2012 1:53 AM CST
Man 143 mil,just think thats a lot of ramon noddles for the 8 1/2 years,a lot of soap on the rope,and alot of cooking for Big D..k Bob lol......Go in Peter and come out Pepe LOL
Dec 21, 2012 1:44 AM CST
Hello, this will not be a walk in the park for ole Peter,.he will have to do a little over 8 years in the fed system...He gets 54 days off a year for good time....He will do his time at a Club Fed prison camp...