Bernie Madoff, infamous Ponzi scheme mastermind has passed away at 82 in federal prison. According to the Associated Press, the disgraced financier died of natural causes. Madoff is possibly the most infamous Ponzi schemer in the world after ripping off more than 37,000 people across 130 countries accruing to over $65 billion before he was sentenced to 150 years in federal prison in what the judge called “one of the most egregious financial crimes in history.”

Last June, he asked for compassionate release claiming he was dying from kidney disease but was denied.

The New York Post reports:

A Queens native, Madoff founded his eponymous financial firm, Bernard L. Madoff Investment Securities, in 1960 and began as “market maker” who accepted buy and sell orders from brokerage houses.

Instead of charging a commission, Madoff pocketed the 12-1/2 cents spread between the bidding and asking prices, and raked in massive profits by paying brokerages a few cents per trade to provide him with a huge volume of orders.

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The Securities Exchange Commission was repeatedly warned about Madoff as early as 1992 — including in a 21-page, 2005 analysis by independent account expert Harry Markopolos titled “The World’s Largest Hedge Fund is a Fraud” — but Madoff successfully duped investigators during five inquiries.

A 2009 inspector general’s report later found that “a thorough and competent investigation or examination was never performed,” leading to the discipline of eight SEC employees.

Madoff was finally busted in 2008 by the FBI for securities fraud. His scheme led one son to commit suicide and his other son blamed Madoff for his cancer returning which he would eventually pass away from.