George S. May Business Blog

Peter Madoff under fire from Manhattan U.S. Attorney’s office

Another member of the Madoff family has found themself on the hot seat.

The New York Post reports that Peter Madoff, brother of the infamous Ponzi Schemer, Bernard, is under federal investigation by the Manhattan U.S. Attorney’s office.

Peter Madoff was the former Chief Compliance Officer at Bernard L. Madoff Investment Securities. According to Irving Picard, the trustee for Madoff victims, Peter saw massive returns on his investments.

Peter Madoff has already been accused of receiving far too much money on returns from microscopic investments. Example?

How about this one:

Long story short, Peter put $14 down and withdrew over $16.25 MILLION!

Then again, to enjoy such returns you would have to have the fourteen dollars just laying around to invest. Unbelievable.

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