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Madoff: 150 years

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Madoff:  150 years Empty Madoff: 150 years

Post  Cincy Fan 44 Mon Jun 29, 2009 1:45 pm

http://news.yahoo.com/s/ap/us_madoff_scandal

NEW YORK Historic swindler Bernard Madoff was sentenced to 150 years in prison Monday for a fraud so extensive that the judge said he needed to send a symbolic message to potential imitators and to victims who demanded harsh punishment.

Scattered applause and whoops broke out in the crowded Manhattan courtroom after U.S. District Judge Denny Chin issued the maximum sentence to the 71-year-old defendant, who said he lives "in a tormented state now, knowing all the pain and suffering I've created."

Chin rejected a request by Madoff's lawyer for leniency and said he disagreed that victims of the fraud were seeking mob vengeance.

"Here the message must be sent that Mr. Madoff's crimes were extraordinarily evil and that this kind of manipulation of the system is not just a bloodless crime that takes place on paper, but one instead that takes a staggering toll," Chin said.

The judge said the estimate that Madoff has cost his victims more than $13 billion was conservative because it did not include money from feeder funds.
Seems like a light sentence for all the pain he has caused. Tell ya' what, if my last name was "Madoff" I'd be looking to legally change it if I hadn't done so already.
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Post  floridafun Tue Jun 30, 2009 9:53 am

what i want to see next is trials for those in SEC who ignored the many whistle-blower occasions requesting maddof be looked into. they were co-conspirators to what he got away with. and i dont really care how many years he got long as it covers the rest of his life.
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Post  Markwes Wed Jul 01, 2009 8:30 am

I'm thinking there has to be more to this. The sons, including one in charge of compliance, knew nothing about what their father was doing?
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Post  floridafun Wed Jul 01, 2009 1:11 pm

its been in the news for a while now that bernie wasnt the only one who would be taken down, that other investigations were expected to bring more charges to others.
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