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Essay / The Ponzi scheme: the biggest crimes? - 1653
Middle uses the money he stole for his luxurious personal lifestyle as well as his family and friends. Invest investigators describe Madoff's con game as an inside man. In order to maintain his scam, he had to “work with others who would help him carry out his complex criminal activity and who he could trust not to betray him” (Lewis, 2013 p. 289). He works with his family members, such as his brother Peter, who later committed suicide during the trial. In May 2002, the SIPC trustee filed a $255.3 million lawsuit against the Madoff family. Madoff's BLMIS business ended on December 11, 2008 when he was arrested for stealing his client's money. For over 50 years, Madoff stole people's money and on June 29, 2009, he pleaded guilty "to 11 counts and was sentenced to one hundred and fifty years in prison" (Lewis, 2013