Peter Madoff Pleads Guilty, Says Ponzi Scheme Shocked Him

Law360, New York (June 29, 2012, 2:02 PM ET) -- Peter Madoff, the brother of convicted Ponzi schemer Bernard Madoff, pled guilty Friday to charges related to his job at his brother's firm, though he maintained he did not know Bernard was a fraud.

Peter Madoff, the former chief compliance officer at Bernard L. Madoff Investment Securities LLC and a 38-year employee of the firm, told a packed courtroom that he only learned his older brother was running his massive scheme the night of Dec. 9, 2008, two days before Bernard Madoff confessed to authorities....
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