Bernie Madoff, a former chairman of NASDAQ and investment advisor, was sentenced to 150 years in prison for orchestrating the largest Ponzi scheme in history. The scheme, which began in the late 1990s, defrauded thousands of investors, including many high-profile names in business, politics, and entertainment, of an estimated $65 billion. Madoff’s scheme relied on false performance reports and promises of consistent returns, which attracted investors seeking to protect and grow their wealth.