Bernard Madoff, American hedge-fund investment manager is arrested by the FBI at his home on December 11, 1988.
He was tried, found guilty and sentenced to up to 150 years in prison for operating the largest Ponzi scheme in history worth an estimated $65 billion. Madoff pleaded guilty in March 2009 to 11 federal felonies, including securities fraud and money laundering, and was subsequently sentenced to 150 years in prison, dying in 2021