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Madoff Scandal: The Final Minions Meet Their Fate. After more than six years and 15 convictions, the Bernie Madoff Ponzi scheme, which cost his investors an estimated $50 billion, is finally coming to close. Continue Reading Below.
March 20, 2009 - An appeals court rules that Madoff will remain in jail until sentencing. April 1, 2009 - Federal marshals seize Madoff's yacht, a smaller boat, and one of his homes in Florida as court-ordered seizures of the financier's assets begin. June 29, 2009 - Madoff is sentenced to 150 years in prison.