The brother of imprisoned financier Bernard Madoff was sentenced Thursday to 10 years in prison for crimes committed in the shadow of his notorious sibling.
Peter Madoff, 67, agreed to serve the time in prison when he pleaded guilty in June to conspiracy and falsifying the books and records of an investment adviser. About 40 of the thousands of investors who lost the $20 billion they invested in the family's private investment business wrote victim impact statements that were submitted to U.S. District Judge Laura Taylor Swain.
Two spoke during the proceeding.
Peter Madoff told the court he was ashamed of his actions.
Source: AP. Read full article. (link)