Ponzi schemer Bernie Madoff dies in prison: AP

CGTN

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Ponzi schemer Bernie Madoff has died at the age of 82 in a federal prison, believed to be from natural causes, AP reported.

Madoff was arrested in December 2008 for running a multi-billion-dollar Ponzi scheme – an investment fraud promising high returns, with early investors paid off with money from later ones.

The financial swindler has been serving his 150-year sentence in a federal prison in Butner, the U.S. state of North Carolina, since July 2009, after he committed crimes including fraud, money laundering and perjury.