Bernie Madoff's Brother Is Headed To Prison

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with hard time for another Madoff.

(SOUNDBITE OF MUSIC)

INSKEEP: This time, it's Bernie Madoff's brother heading to prison. A federal judge sentenced Peter Madoff to the maximum sentence, 10 years, after he pleaded guilty to charges including conspiracy. Mr. Madoff maintains that his first knowledge of his brother's massive Ponzi scheme came only just before Bernie Madoff's arrest. The sentencing judge said that story was quote, "frankly, not believable."

A different sibling is already serving time, related to that scheme. Transcript provided by NPR, Copyright NPR.