Bernard Lawrence Madoff was an American financier and con artist who was the admitted mastermind of the largest-known Ponzi scheme in history, worth an estimated $65 billion. He was at one time chairman of the Nasdaq stock exchange. PonzikingBernieMadoff has died in federal prison at the age of 82. His wife, Ruth Madoff, hasn’t spoken publicly in a decade.Officials said BernieMadoff had 37,000 victims in 136 countries in his scheme that started back in the 1970s. Bernard Madoff, whose name became synonymous with financial fraud, died while serving a 150-year sentence in Federal Prison. He was 82 years old. BernieMadoff: Who He Was, How His Ponzi Scheme Worked - Investopedia. InfamousPonzi schemer BernieMadoff is asking to be released early from prison, claiming he’s terminally ill. And while Madoff seeks to avoid spending the rest of his life behind bars, the victims of his scheme still haven’t fully recovered, more than a decade after his arrest and guilty plea. BernieMadoff Dead At 82: Everything To Know About InfamousPonzi Schemer. The man behindthe largest Ponzi scheme in history has passed away in prison at age 82. Here’s what you need to know. Victims of BernieMadoff’sinfamousPonzi scheme have now recovered nearly 94% of their proven losses. Department of Justice announced that the Madoff Victim Fund (MVF) has distributed its final batch of payments, totaling $131.4 million.