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Peter Madoff Pleads Guilty, Faces 10 Years

Aaron Smith
June 30, 2012

Bernard Madoff’s younger brother pleaded guilty Friday to federal charges that he helped cover up the biggest Ponzi scheme in history.

Peter Madoff, 66, pleaded guilty to charges of conspiracy and falsifying investment records in U.S. District Court for the Southern District of New York. He was accused of lying to clients and obstructing the Internal Revenue Service.

“I know my conduct was wrong and I’m deeply ashamed,” said Peter Madoff, during his court appearance.

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