Court papers: Brother of Wall Street swindler Bernard Madoff scheduled to plead guilty in NYC

NEW YORK, N.Y. – The brother of Ponzi scheme king Bernard Madoff is scheduled to plead guilty in New York in the criminal case resulting from the multibillion-dollar fraud.

Peter Madoff is the former chief compliance officer at the private investment arm of Bernard Madoff’s business.

Court papers signed by a federal judge in Manhattan on Wednesday show Peter Madoff will plead guilty.

Madoff also agreed to the criminal forfeiture of $143.1 billion, including all of his real and personal property.

Madoff agrees to serve 10 years in prison.