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Key Madoff Employee Pleads Guilty; Fined $170 Billion

A long-time employee of mega-swindler Bernie Madoff who turned government informant in 2009 has agreed to a plea deal with prosecutors. This marks the final prosecution in the more than six-year long Bernie Madoff case, who first admitted to his gigantic fraud back in late 2008. Irwin Lipkin, 77, agreed he owes the government a Rolex watch, a well-known painting by Red Skelton and $170 billion cash on Monday, and was sentenced to six months in jail Wednesday on charges of conspiracy and making false statements in employment records. More on ValueWalk here.

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