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FBI takes Peter Madoff into custody in NYC

8:46 AM, Jun 29, 2012   |    comments
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LARRY NEUMEISTER
Associated Press

NEW YORK (AP) - The FBI has taken Bernard Madoff's brother, Peter, into custody as a federal judge in New York prepares to accept his plea to criminal charges.

FBI spokesman J. Peter Donald says Madoff was taken into custody at his lawyer's Manhattan office around 7 a.m. EDT Friday.

The procedure was a prelude to a court appearance scheduled a few hours later.

Madoff is scheduled to enter a plea to conspiracy and falsifying records. The government told a judge that he has agreed to serve 10 years in prison and relinquish his fortune.

The plea by the 66-year-old chief compliance officer at the Madoff investment business comes three years after his brother admitted to mammoth fraud.

Bernard Madoff is serving a 150-year prison term. He has insisted he carried out his fraud alone for decades, cheating thousands of people of billions of dollars.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Associated Press

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