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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.
Well, Bernie, I mean, he didn't have anything that really made money, says Lou Pearlman by phone about Wall Street pariah Bernie Madoff, sounding level-headed and upbeat in his first prison interview since his 2009 incarceration in Texas at the low-security Federal Correctional Institution (FCI) Texarkana.Madoff is serving a 150-year sentence for a Ponzi scheme worth $18 billion, the costliest in U.S. history.). PHOTOS: From Boy Band Mogul to Convict (via THR). He didn't have any real way to make money, Pearlman repeats, but I had the music. The Backstreet Boys each made well over $50 million apiece.