The Long Island estate of Peter B. Madoff, the younger brother of Bernard L. Madoff, has been sold for several million dollars less than its original asking price, after years of efforts to find a buyer.
Peter Madoff will serve 10 years in prison for his role in his older brother's multibillion-dollar Ponzi scheme, a U.S. judge said Thursday.
Bernard Madoff’s brother, Peter Madoff, should get a 10-year prison term for his role in perpetuating the multibillion-dollar fraud, U.S. prosecutors said.
Peter Madoff pleaded guilty Friday to enabling his brother Bernard Madoff to pull off the biggest Ponzi scheme in U.S. history - though Bernie's brother denied knowing the business was a sham until the firm collapsed.
CNBC's Mary Thompson reports.