NEW YORK
(AP) -- The brother of Ponzi scheme king Bernard Madoff (MAY'-dawf) is
scheduled to plead guilty in New York in the criminal case resulting from the
multibillion-dollar fraud.
 |
| Peter Madoff |
Peter
Madoff is the former chief compliance officer at the private investment arm of
Bernard Madoff's business.
Court
papers signed by a federal judge in Manhattan on Wednesday show Peter Madoff
will plead guilty. Madoff also agreed to the criminal forfeiture of $143.1
billion, including all of his real and personal property.
Madoff
agrees to serve 10 years in prison.
The court
papers say he'll plead guilty to conspiracy to commit securities fraud and
other offenses including falsifying records.
His
attorney hasn't returned an email seeking comment.
Bernard
Madoff pleaded guilty to fraud and is locked up in prison in Butner, N.C.
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