`` Everything I 've been doing is all a big lie , '' family recalls Madoff saying . Madoff is in prison for swindling investors in the largest Ponzi scheme in U.S. history . He is serving a 150-year sentence after bilking investors out of their money by masquerading as the head of a legitimate investment firm while using funds from new investors to send payments to his earlier investors , falsely portraying them as proceeds when they were actually stolen money , prosecutors said . The FBI has said it believes that Madoff, who was arrested on December 11, 2008, may have used his position at investment firm Bernard L. Madoff Investment Securities to commit fraud. Andrew Madoff : `` What he did to me , to my brother , and to my family is unforgivable ''
`` Everything I 've been doing is all a big lie , '' family recalls Madoff saying . Madoff is in prison for swindling investors in the largest Ponzi scheme in U.S. history . The FBI has said it believes that Madoff, who was arrested on December 11, 2008, may have used his position at investment firm Bernard L. Madoff Investment Securities to commit fraud. Andrew Madoff : `` What he did to me , to my brother , and to my family is unforgivable ''