FBI takes Peter Madoff into custody in NYC

Financier Bernard Madoff, left, and his brother Peter Madoff during July 2002 in Montauk, NY. / GI/BM/Getty Images

(AP) NEW YORK - The FBI has taken Bernard Madoff's brother, Peter, into custody as a federal judge in New York prepares to accept his plea to criminal charges.

FBI spokesman J. Peter Donald says Madoff was taken into custody at his lawyer's Manhattan office around 7 a.m. EDT Friday.

The procedure was a prelude to a court appearance scheduled a few hours later.

Madoff is scheduled to enter a plea to conspiracy and falsifying records. The government told a judge that he has agreed to serve 10 years in prison and relinquish his fortune.

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The plea by the 66-year-old chief compliance officer at the Madoff investment business comes three years after his brother admitted to mammoth fraud.

Bernard Madoff is serving a 150-year prison term. He has insisted he carried out his fraud alone for decades, cheating thousands of people of billions of dollars.

[bodettes]

It's about time. Take back all of their stolen fortune as they probably couldn't have earned it anywhere else. Take it all....

[honest_pols]

REAL, SERIOUS SEIZURES OF ASSETS, MONIES, PROPERTIES, PERSONAL ITEMS BETTER BE CARRIED OUT

... or these and other financier/parasites who destroyed millions of lives and wrecked America, will get away with only relatively small, disproportionate-to-their-crime, and unjust givebacks.

Our Law Enforcement arms, agencies, departments, etc, must not only hunt these unproductive financial swindlers down. They must locate their hidden and overseas assets, monies, gold, properties and other of their 'operations' and businesses as well!