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via BBC News

The brother of disgraced Wall Street financier Bernard Madoff has been sentenced to 10 years in prison for his role in his brother’s Ponzi scheme.

Peter Madoff, 67, said he was “deeply ashamed” of his conduct and accepted full responsibility for his actions.

In June he pleaded guilty to charges of conspiracy to commit securities fraud and falsifying books.

His brother was convicted in 2009 and sentenced to 150 years in prison for running a $65bn (£40bn) fraud scheme.

Some experts estimate that investors lost about $20bn.

At Thursday’s sentencing hearing in New York, Peter Madoff said: “I am deeply ashamed of my conduct. I accept full responsibility for my actions.”

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Article courtesy bbc.co.uk

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