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Bernie Madoff Sentenced to 150 years in Prison
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by albertacowpoke | June 29, 2009 at 07:41 am
446 views | 61 Recommendations | 11 comments
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The man who committed the 150 Billion Dollar fraud, Bernie Madoff, with his pyramid scheme has been sentenced to 150 years in prison. This is the statutory maximum for this crime. The judgesaid a message had to be send. The judge found the arguments of Madoff's defence less than compelling.
This sentence amounts to a life sentence for Bernie Madoff.
Prior to sentencing Madoff apologized to his victims and said he knew that it was no comfort to them but that he was truly sorry.
It is not known at this time if Madoff will appeal. His lawyer had recommended 12 years.
There were cheers and applause as the sentence was announced.
His wife of 45 years, who did not attend court today, has recently been permitted to keep 2 Million Dollars.
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Most RecentMost Recommended Comments (11)
at 08:40 on June 29th, 2009
Thanks for this, albertacowpoke. I am linking my story update Madoff sentenced to 150 Years for Ponzi Scheme.
at 09:32 on June 29th, 2009
Good idea, I should have done that:)
at 11:50 on June 29th, 2009
No problem, albertacowpoke! A link to jordan's story as well: Madoff Sentencing: Victim Impact Statements in Madoff Scandal.
at 11:32 on June 29th, 2009
He got off easy, I'd say. How many people committed suicide because of this MF?
at 11:44 on June 29th, 2009
He did indeed considering all that. Thanks for the video Blue Crush.
at 13:51 on June 29th, 2009
His wife still got to keep 2 and a half million dollars, nice for her!
at 13:55 on June 29th, 2009
She did indeed. Thanks for commenting Mark.
at 09:12 on June 30th, 2009
Madoff got what he deserved.
at 15:32 on July 3rd, 2009
AlvarezGalloso: Yes! Madoff indeed got what he deserved! But he's small potatoes and a two-bit hustler relative to those that really caused financial and economic ruin, on a global scale! The question of the century (and perhaps centuries to come) will be this: Why did small fries, like Madoff, get sentenced to 150 years in prison while those that are directly responsible for the world-wide financial and economic meltdown continue to live the good-life in partnership with the US government? Alot of sacrificial lambs have been thrown onto the fire by America's powers-that-be, throughout the years, in order to divert attention from those that are truly guilty of high crimes and misdemeanors. I've come to the conclusion, lately, that a number of America's past (and perhaps present) presidents are nothing but cartoon characters, in some good ol' boy/you watch my back and I'll watch yours/country club.
at 10:11 on July 3rd, 2009
Too bad the G didn't go after the rest of the financial swine like they did Madoff! But I can understand the G's reluctance. Afterall, why would any governmental entity want to incriminate itself along with its insider friends? Madoff is a bad guy, alright, but is he any worse than the others? Perhaps Madoff just wasn't big enough to not "fail" and his victims have more juice and their wheels squeak louder than the average investor. The millions of Americans that have recently lost their jobs, have seen their retirement nest egg shrink dramatically, and have seen their home-equity values ravaged to the point where they can't even give their homes away, should accept the fact that the US government (and in particular the Bush administration) has totally failed them and has abandoned them in an economic and financial desert. Millions of Americans, that planned to retire by the age of sixty-five, are now faced with the prospect of working full-time well into their seventies (and possibly into their eighties), in order to simply provide a roof over their heads and food on the table. It's rice and beans time for America! And about the only good thing that will come from the economic and financial havoc that American politicians (both Republican and Democrat) along with "too big to fail" corporations wreaked upon the American public, is that Americans will get a harsh-reality lesson in how the rest of the world lives . . . .
at 10:20 on July 3rd, 2009
Thanks for this.