Final defendant in Madoff fraud case jailed

Bernie Madoff Firesale

The final defendant in the $68bn (£44bn) Bernard Madoff fraud case has been jailed.

BBC News reports that Irwin Lipkin, 77, pleaded guilty of helping to hide the fraud from US regulators by falsifying documents.

His sentence marks the end of a six-year prosecution saga.

A total of 15 people have been convicted for their parts in the Ponzi - pyramid - scheme orchestrated by Madoff that defrauded investors out of billions of dollars.

Madoff's fraud emerged in 2008. What was thought to be a fund worth $68bn turned out to be all but worthless having been paid as fake profit or stolen by Madoff and his associates.

To access the complete BBC News article hit the link below:

Madoff fraud saga sees last defendant jailed

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