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Tax Fraud Charges Could be Filed Soon against Madoff's Sons, Brother

The heads aren't done rolling over at Bernard L. Madoff Investment Securities. Charges of tax fraud could be on deck for Madoff's brother and two sons, according to individuals close to the ongoing case.

Since Madoff's tangled financial web was uncovered, federal authorities have been working persistently to unravel the details. As more questions are answered, there have been more charges.

Four others employed by Madoff, as well as an accountant outside the business, are currently facing charges for their role in helping carry out a Ponzi scheme that cost investors billions.

Fair or not, Bernie Madoff and his family have become one of the major public faces of financial disregard that drove the country to its current state. Madoff's harsh prison sentence of 150 years paved the way for more severe white collar crime penalties and longer prison sentences.

Many accused of fraud have found themselves forced to plea bargain or risk years behind bars. It represents a strong shift in public sentiment and a desire to "get" those accused of crimes like tax fraud.

During the case, few have stood up for the Madoff family. Rather, many have demanded that authorities focus a sharper eye on Madoff's wife and two sons. While Ruth Madoff is not expected to be charged, as she had no official role in the Madoff business, both Andrew and Mark Madoff held positions in their father's company.

Peter Madoff, Bernard's brother, served as chief compliance officer at the company.

Thus far, the specifics of any pending tax fraud charges have not disclosed, though family members have been implicated in charges filed against Daniel Bonventre, operations chief under Bernie Madoff. While criticizing Bonventre's role in the Ponzi scheme, the charges reference millions in improper loans and payments to family members.

The tax fraud charges are excepted to be filed later this year.

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