Bernard Madoff is the former president of the Bernard L. Madoff Investment Securities financial advisory firm. On March 12, 2009, Madoff pleaded guilty to charges of security fraud involving a $65 billion Ponzi scheme. Madoff has been in jail since entering his guilty plea and was sentenced to 150 years in prison on June 29, 2009.http://money.cnn.com/2009/06/26/news/economy/madoff_sentence/index.htm?postversion=2009062622&eref=rss_topstories

On Tuesday, July 28, 2009, Madoff was interviewed by lawyers looking to sue him, and candidly stated that he couldn't believe that he got away with his scheme for so long.http://finance.yahoo.com/career-work/article/107431/madoff-cannot-believe-fraud-lasted-so-long.html;_ylt=Al2FigR017jJ1xbOUABSdb.7YWsA?sec=topStories&pos=2&asset=&ccode= On October 29, 2009, a lawsuit claiming that Madoff had used company money and resources to obtain cocaine and prostitution was filed in New York.http://www.mahalo.com/bernie-madoff-sex-and-drugs

On December 11, 2010, on the second anniversary of his father's arrest, Mark Madoff was found dead in his New York City apartment. His death was called a suicide by his attorney, Martin Flumenbaum. Mark Madoff reportedly hanged himself. He was 46 years old.http://www.reuters.com/article/idUSTRE6BA1GE20101211 http://www.latimes.com/business/la-fi-mark-madoff-suicide-20101212,0,481816.story

An attorney for Mark Madoff stated that Mark had been distraught over the continued allegations and innuendos about his involvement in the fraud carried out by his father. People defrauded in the Ponzi scheme perpetrated by Bernard Madoff have long felt that Madoff's sons and wife were involved in the crime. Mark and his brothers were never charged with any crimes in connection with their father's crimes, but investigations had continued. Lawsuits were pending from victims of his father's crimes against Mark Madoff and other family members. This was an effort to recover money lost to the Madoff family.http://www.reuters.com/article/idUSTRE6BA1GE20101211 http://www.latimes.com/business/la-fi-mark-madoff-suicide-20101212,0,481816.story

On June 16, 2009, it was announced that he had partially settled a civil complaint against him which has been brought by the U.S. Securities and Exchange Commission (SEC). Included in the settlement, Madoff does not have to admit to any wrongdoing, although he is "barred from working with any broker, dealer or investment adviser."http://www.reuters.com/article/domesticNews/idUSTRE55F77420090616

On May 21, 2009, an auction was held in Dania Beach, Florida, which included some of Madoff's personal processions. Items included were Picasso and Marc Chagall artwork as well as family jewelry and antiques. The money raised from the auction is supposed to go to the victims of Madoff's Ponzi scheme.http://www.wctv.tv/news/headlines/45807167.html

Madoff appeared in court on March 12, 2009, and pleaded guilty to 11 criminal counts including wire fraud, securities fraud, mail fraud and three counts of money laundering. The judge ordered that Madoff be jailed until his sentencing date of June 29, 2009, on which he was sentenced to the maximum 150 years in jail.http://money.cnn.com/2009/03/12/news/newsmakers/madoff_courtappearance/index.htm

On December 13, 2008, companies from around the globe began reporting losses related to the Madoff fraud case, including more than $4 billion from Geneva-based banks.http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSLD12500520081213

1. Fairfield, Connecticut: $42 millionhttp://www.bloomberg.com/apps/news?pid=20601087&sid=aSZMu0okayJU&refer=home
2. Robert I. Lappin Charitable Foundation was forced to close on December 13, 2008http://www.reuters.com/article/domesticNews/idUSTRE4BC1QO20081213
3. Carl and Ruth Shapiro, almost $145 millionhttp://www.reuters.com/article/domesticNews/idUSTRE4BC1QO20081213
4. Avram and Carol Goldberghttp://www.reuters.com/article/domesticNews/idUSTRE4BC1QO20081213
5. Stephen Finehttp://www.reuters.com/article/domesticNews/idUSTRE4BC1QO20081213
6. Several Geneva-based banks including Banque Benedict Hentsch and Union Bancaire Privee lost more than $4.22 billionhttp://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSLD12500520081213
7. Royal Bank of Scotlandhttp://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5337735.ece
8. BramDean Alternativeshttp://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5337735.ece
9. BNP Paribashttp://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5337735.ece
10. J. Ezra Merkin, chairman of GMAChttp://www.nytimes.com/2008/12/13/business/13investors.html?em
11. Norman Braman, owner of the Philadelphia Eagleshttp://www.nytimes.com/2008/12/13/business/13investors.html?em
12. New Jersey Senator Frank Lautenberghttp://www.abcnews.go.com/GMA/story?id=6463587&page=1
13. Publisher Mort Zuckerman's charitable foundationhttp://www.nypost.com/seven/12142008/news/regionalnews/daily_news_owner_mort_zuckerman_madoff_v_144237.htm
14. Director Steven Spielberg's charity Wunderkinderhttp://www.nypost.com/seven/12142008/news/regionalnews/daily_news_owner_mort_zuckerman_madoff_v_144237.htm
15. HT Foundation charity was forced to close its doors in January 2009http://www.jehtfoundation.org/news/
16. Picower Foundation, with Madoff-managed assets of $1 billion, announced its closure on December 19, 2008http://www.nytimes.com/2008/12/20/business/20foundation.html?ref=business

On February 4, 2009, a 162-page list of Madoff's presumed victims was released. Among the people and institutions allegedly defrauded was actor John Malkovich, Hall of Fame pitcher Sandy Koufax and Columbia University.http://www.cnn.com/2009/CRIME/02/05/madoff.victims/index.html

The trustee liquidating Madoff's assets told news media on February 20, 2009, that Madoff had not bought any securities for at least the past 13 years.http://www.reuters.com/article/newsOne/idUSTRE51J4DI20090220

Internal Revenue Service Commissioner Douglas Shulman told the Senate Finance Committee on March 17, 2009 that victims of Bernard Madoff's elaborate Ponzi scheme would be able to claim theft losses as tax deductions when they file their taxes for 2008.http://www.bloomberg.com/apps/news?pid=20601087&sid=ahzD9jfm1nlA&refer=home

On March 21, 2009, several possible refund options were announced for victims, including money being distributed from the $1 billion held by Madoff's company. The IRS will be giving tax refunds expected in the billions, and an investor guarantee fund may pay up to $500,000 per client. There is also a chance that those that profited from the scam will be required to forfeit the money so it can be redistributed to those that did not.http://wcbstv.com/local/bernie.madoff.refund.2.964632.html