Prosecutors have not said whether criminal cases are also being prepared against Bernard Madoff son, Andrew, who was co director of trading, or his niece, Shana, who was a compliance officer at the firm.
About a dozen people have now been implicated in criminal wrongdoing related to the Madoff firm.
Federal prosecutors on Wednesday revealed in a letter that Peter Madoff had been criminally charged with participating in his brother fraud. He is the first Madoff family member to be arrested and charged.
The arrest of Peter Madoff had been expected as Adidas Men's Duramo Trail he is due in federal court in Manhattan later Friday to plead guilty to charges related to his brother decades long fraud.
Peter Madoff was chief compliance officer at Bernard L. Madoff Investment Securities LLC when his brother was arrested on Dec. 11, 2008.
Bernard Madoff, 74, is serving a 150 year prison sentence Adidas Duramo 6 Mens Black
2009 and has been praised by prosecutors for his cooperation. He has yet to be sentenced.
Peter Madoff was arrested at his lawyer office, Federal Bureau of Investigation spokesman Peter Donald said.
Between 1993 and 2008, Peter Madoff was paid over $36 million in salary and bonuses, Picard said, and the firm funded his lavish lifestyle, including $140,000 for a Ferrari in 1995 and a home on Manhattan upscale Park Avenue.
He is also charged with falsifying records.
Bernard Madoff's brother arrested
The FBI said on Friday it had arrested Peter Madoff, the younger brother of swindler Bernard Madoff, who is serving a 150 year prison sentence for his multibillion dollar Ponzi scheme.
after pleading guilty to the Ponzi scheme in March 2009.
Peter Madoff also agreed to forfeit about $143.1 billion, including all real and personal property, the letter said. The amount is symbolic, being more than twice the estimated size of the fraud.
Lawyers for Andrew and Shana Madoff did not immediately return calls seeking comment.
Five have pleaded not guilty: Annette Bongiorno, Daniel Bonventre, Joann Crupi, Jerome O and George Perez.
The letter, filed in federal court in Manhattan, said Peter Madoff was expected to plead guilty to charges of conspiracy to commit securities fraud and falsifying records as well as other charges. He agreed not to seek a sentence other Adidas Energy Boost Shoes Review
In May, Irving Picard, the trustee seeking money for victims of the Ponzi scheme, named members of Madoff family in an expanded $255.3 million lawsuit, claiming they should have detected Bernard Madoff Ponzi scheme at the firm that operated if it were their family piggy bank. addition to Madoff brother Peter, Picard sued Andrew Madoff, who was co director of trading; the estate of son Mark, co director of trading who committed suicide in December 2010; and Shana Madoff.
Picard is seeking $90.4 million from Peter, $81.3 million from Mark Madoff estate, $73.8 million from Andrew and $15.3 million from Shana.
Frank DiPascali, the former chief financial officer often called Bernard Madoff right hand man, pleaded guilty in August Adidas Duramo 7 Men's Running Shoes
John Wing, a lawyer for Peter Madoff, did not immediately respond to a request for comment.
than 10 years in prison, the letter said.
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