Peter Madoff

Peter Madoff
Name	Peter Madoff
Birth date	1945-07-01
Birth place	New York City, New York, U.S.
Death date	2021-04-14
Death place	Westport, Connecticut, U.S.
Nationality	American
Occupation	Accountant, compliance officer
Employer	Bernard L. Madoff Investment Securities
Criminal charge	Securities fraud, accessory to fraud
Criminal penalty	10 years' imprisonment

Peter Madoff was an American accountant and compliance officer who worked at Bernard L. Madoff Investment Securities. He was a brother of Bernard Madoff and became implicated in the largest Ponzi scheme in U.S. history. His professional career intersected with several major financial firms and regulatory bodies prior to his conviction and incarceration.

Early life and education

Peter was born in New York City to a family that included brothers Bernard Madoff and Mark Madoff, and sister Ruth Madoff. He attended local schools on Long Island and pursued higher education at institutions in New York (state). During his formative years he had social and professional connections with figures in Wall Street circles and acquaintances that later included executives from firms such as Goldman Sachs, Morgan Stanley, Lehman Brothers, Bear Stearns, and JPMorgan Chase. His family's prominence in Lower Manhattan and networks with entities like the New York Stock Exchange and the National Association of Securities Dealers influenced his early exposure to the securities industry.

Career at Bernard L. Madoff Investment Securities

Peter joined Bernard L. Madoff Investment Securities, a firm founded by his brother, where he served in accounting and compliance roles. He worked alongside executives and managers connected to institutions such as Citigroup, Bank of America, Credit Suisse, UBS, and Deutsche Bank. Within the firm he interacted with compliance and auditing professionals from firms including PricewaterhouseCoopers, Ernst & Young, KPMG, and Deloitte. Peter's responsibilities placed him in contact with counterparties and service providers like Bankers Trust, Merrill Lynch, Wachovia, and custodial services used by investment firms such as Fidelity Investments and Vanguard Group.

Role in the Madoff investment scandal

Allegations against Peter arose during investigations led by entities including the Securities and Exchange Commission, the Federal Bureau of Investigation, and the U.S. Attorney for the Southern District of New York. As prosecutors and trustees, among them Irving Picard, examined the operations of Bernard L. Madoff Investment Securities, Peter was identified as having involvement in recordkeeping and compliance oversight. Civil and criminal inquiries referenced interactions with banks and financial intermediaries like HSBC, BNP Paribas, Societe Generale, Royal Bank of Scotland, and Nomura Holdings, and service providers including Madoff's back office contractors. Investigators reviewed communications and documents that implicated him alongside his brother and assessed connections with feeder funds and advisers linked to firms such as Fairfield Greenwich, J. Ezra Merkin, Ascot Partners, Kingate and Landslide Capital.

Legal proceedings and sentencing

Peter was arrested and charged as part of a wide-ranging enforcement effort that involved prosecutors and judges from the Southern District of New York and federal bodies like the United States Department of Justice. His case proceeded through the federal court system with involvement from judges and attorneys experienced with white-collar prosecutions, comparable to other high-profile cases involving defendants from institutions such as Enron, WorldCom, Tyco International, and Lehman Brothers. During proceedings, prosecutors presented evidence including accounting records, bank statements from institutions like J.P. Morgan Chase, and testimony referencing auditors and compliance professionals from firms like Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom. In 2012 he pleaded guilty to charges related to his role; in 2014 a federal judge sentenced him to ten years' imprisonment, a term also seen in sentencing decisions in cases involving defendants from entities like Bernie Ebbers and Martin Frankel.

Incarceration and release

Peter served his sentence at facilities operated by the Federal Bureau of Prisons. During incarceration he was subject to the Bureau's policies and programs that have been applied to other white-collar inmates detained with individuals from cases involving Martha Stewart and Jeff Skilling. His incarceration involved standard interactions with prison officials and medical staff; later motions and filings by his legal team, referencing precedents from cases such as those involving Alan Stanford and Allen Stanford, sought compassionate release and adjustments. He was released to home confinement and supervised release under terms set by federal authorities and reentry programs administered in coordination with agencies like the United States Probation and Pretrial Services System.

Personal life and death

Peter lived with family ties that connected him to New York social and philanthropic circles, which overlapped with organizations like The Jewish Federation of North America, cultural institutions such as the Metropolitan Museum of Art, and educational institutions including Columbia University and New York University. His relatives included siblings who were public figures in litigation and media coverage, with legal interactions alongside attorneys and firms known in major litigation. He died in 2021 in Westport, Connecticut; his death was reported amid ongoing civil recovery efforts overseen by trustees and courts including the U.S. Bankruptcy Court and federal receivers handling the aftermath of the fraud.

Category:1945 births Category:2021 deaths Category:American white-collar criminals Category:People from New York City