NY defense: Peter Madoff will be 'jobless pariah'

Published on NewsOK Modified: December 17, 2012 at 6:02 pm •  Published: December 17, 2012
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"In short, Peter Madoff has accepted responsibility and attempted to atone for his misconduct by entering a guilty plea and consenting to a massive forfeiture that will effectively render him penniless for the rest of his life," Wing said. "Peter's life has been shattered by his brother's Ponzi scheme as well as his own conduct and guilty plea, and he will almost certainly live out his remaining days as a jobless pariah, in or out of prison."

Wing said Peter Madoff was ruined by his brother, who had mistreated him when he was growing up in Queens. Bernard Madoff, eight years older than Peter, was viewed as "the prince" by their mother and "Peter longed for the love and approval of his brother and family," the lawyer said.

"Peter had a large build, and Bernie ridiculed him mercilessly, calling him 'Rollo,' which hurt Peter deeply. One friend recalled that even as an adult, Peter's friends were struck by his view of himself as 'a fat boy who always wanted to do the right thing, a little fat boy who wanted so much to please his father, and his older brother,'" Wing said.

Bernard Madoff pleaded guilty to fraud charges and is serving 150 years in prison in Butner, N.C.