Topic > The Madoff Case: The Madoff Ponzi Scheme Around the World

After 8 years the SEC finally discovered that the scheme was controlled by Madoff. In December 2008 Madoff was found guilty; however, he remained under house arrest until his trial in March 2009. He was not arrested due to the $10 million payment that allowed him to remain under house surveillance until his trial. While at home, he and his wife shipped valuables such as jewelry and jewelry to family members. In March 2009, Bernard Madoff was finally found guilty and sentenced to 150 years in prison. On the day of his arrest, the FBI found 100 checks totaling $173 million, issued to friends, family and others.