Bernie Madoff’s brother was taken into FBI custody Friday morning in Manhattan, where he’s expected to admit to taking part in the nation’s most notorious Ponzi scheme.Peter Madoff is expected in court later this morning, where he is scheduled to plead guilty to conspiracy and falsifying records, the AP reported.
As part of his plea deal, Peter Madoff has agreed to serve 10 years in prison and give up his fortune, according to the AP.
Bernie Madoff is currently serving a 150-year sentence for defrauding thousands of investors out of billions of dollars.
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