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Former Miami-Dade County Resident Sentenced to More than 8 Years in Prison for Bank Fraud and Money Laundering Schemes The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernie Madoff, the former NASDAQ Chairman and. On June 29, 2009, he was sentenced to 150 years in prison with restitution of $170 billion. According. 7 Recovery of funds; 8 Affected clients.
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