Peter Madoff in 2002.
The younger brother of notorious financier and Ponzi fraudster Bernard Madoff was released from federal custody Thursday after being sentenced to ten years in prison for about nine years.
The Federal Bureau of Prisons confirmed in an email that Peter Madoff was released on August 13 after being transferred by the Federal Correctional Institution in Miami on November 19, 2019.
Peter Madoff, a lawyer by training and former compliance director of Bernie Madoff, pleaded guilty in 2012 to a number of falsified records and a number of conspiracies to commit securities fraud.
These crimes helped Bernie Madoff, scamming billions of dollars into one of the most famous Ponzi programs in US history.
Peter was sentenced to 10 years in prison and was due to be released in 2021. Bernie pleaded guilty in March 2009 and is serving a 150-year prison sentence.
More recently, a federal judge denied a motion in June to release Bernie Madoff early from prison despite his request to die of kidney disease.
Judge Denny Chin's ruling found that 82-year-old Bernie Madoff committed "one of the most egregious financial crimes of all time" and that "many people still suffer from it."
"When I sentenced Mr Madoff in 2009, it was my intention that he should spend the rest of his life in prison. His lawyers then requested a prison sentence of 12 to 15 to 20 years, particularly in the hope that Mr Madoff would live to & # 39; Seeing the light of day & # 39 ;, "wrote Chin in June.
"I wasn't convinced; I didn't think Mr. Madoff deserved that hope," he added. "Nothing has happened in the last 11 years that changed my thinking."
Bernie Madoff is currently being held in a federal medical facility in North Carolina.
– CNBC's Dan Mangan contributed to the coverage.
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