Bernie Madoff, di Wall Street con artist don die
Bernie Madoff, di Wall Street con artist wey mastermind di largest Ponzi scheme for history and cheat thousands of investors out of billions of dollars, don die for prison.
E die at di age of 82.
Di Federal Bureau of Prisons confam Madoff death on Wednesday. He die for di Federal Medical Center in Butner, North Carolina.
Oga Madoff bin dey serve 150-year sentence afta im admit in 2009 say im defraud investors through one Ponzi scheme, wey pay out afta Im use dia money rather than any profits. Di gbege burst during di financial crisis of 2008.
Who be Benie Madoff? and how im take scam pipo?
Oga Madoff set up im mago-mago firm Bernard L Madoff Investment Securities in 1960.
Di company became one of di largest market-makers - matching buyers and sellers of stocks - and Mr Madoff serve as chairman of di Nasdaq stock exchange.
US Securities and Exchange Commission begin investigate di company eight times because e dey make plenti gains.
But na di global recession come effectively cause Oga Madoff end as investors wey di recession hit try to withdraw about $7bn from im funds and e no fit get di money to cover am.
E later confess di problem to im sons, who later go report am to authorities.
Di list of those wey im scam include film director Steven Spielberg charitable foundation, Wunderkinder.
UK Banks also dey among those wey lose money, wit HSBC Holdings wit money of about $1bn. Oda corporate victims na Royal Bank of Scotland and Man Group and Japan Nomura Holdings.
No be just di elite and large firms be victims of di fraud.
School teachers, farmers, mechanics and many others also lose money.
"We think say na god im be. We trust everything for im hands," Nobel Peace Prize winner Elie Wiesel, wey im foundation lose $15.2 million, tok in 2009.
For court, Oga Madoff say wen e start di scheme for di 1990s, e hope say e go be a limited time.
"I no fit adequately express how sorry I be for wetin I don do," Oga Madoff tok for March 2009, wen e plead guilty.
"I realise say my arrest and dis day go definitely come."
Na about $65bn dey tied up for di scam. Na only one fraction dem fit recover.
Last year, Oga Madoff bin ask for early release from prison sake of health problems, plus kidney disease. For one interview wit The Washington Post, e tok say "im make terrible mistake."
"I dey terminally ill," e tok. "My type of disease no get cure. So, you know, I don serve. I don serve 11 years already, and, quite frankly, I don suffer through am.”
Judge Denny Chin deny Oga Madoff' request, say many victims still dey suffer due to dia financial losses.
"I also believe say Oga Madoff no truly dey remorseful, and dat im only dey sorry say im life wey im don sabi dey collapse around am,” e write.
