Update: On June 29th, 2012, Peter Madoff plead guilty to numerous crimes but denied having any knowledge of his brother, Bernie's, Ponzi scheme. In a deal cut with the FBI, Peter could spend 10 years in prison.
As chief compliance officer dealing with the Securities and Exchange Commission (SEC), Peter Madoff signed off on the firm's bogus filings. Trustee Picard alleges that Peter milked nearly $61 million from Madoff accounts, splurging on a $275,000 Aston Martin and other goodies, and bent the corporate plastic for everything from fishing tackle to a $1,600 New Year's dinner at Chez Jean-Pierre in Palm Beach, Florida. After 1995, he allegedly deposited a total of $14 in one of his Madoff accounts and withdrew more than $16 million. (Why $14? Just one of life's little mysteries.)