Peter Madoff arrested for securities fraud
Peter Madoff, brother of Bernard Madoff, was arrested on Friday more than three years after his brother confessed to running the largest Ponzi scheme in history, The New York Times reported.
The Federal Bureau of Investigation arrested Madoff, 66, at his lawyer’s office in Manhattan, according to a spokesman for the agency. He is expected to appear later on Friday in U.S. District Court in Manhattan to plead guilty to criminal charges.
The formal charges against Madoff will include falsifying documents, filing false tax returns and lying to regulators.
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