Dear PGM CAPITAL Blog readers, In March 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme, which he started in early 1990, which defrauded thousands of investors of billions of dollars. On June 29, 2009, he was sentenced to 150 years in prison, the maximum allowed. The main reason why Madoff managed to[…]