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The Madoff family

About a half century ago, Bernard L. Madoff started in business on Wall Street with $5,000, some of which he earned as a lifeguard at Rockaway Beach. In time he became a chairman of the Nasdaq Stock Market. In March 2009, Madoff, 71, pleaded guilty to charges that his operation was a multibillion-dollar Ponzi scheme, and was sentenced to 150 years in prison.