Warren2ThaG Posted June 29, 2009 Report Share Posted June 29, 2009 http://2.bp.blogspot.com/_NE-72ZXux-g/SUSsqu0xM_I/AAAAAAAAHII/XBU9cY1-Sxg/s400/madoff.jpgBernard Madoff Gets 150 Years in Jail for Epic Fraud June 29 (Bloomberg) -- Bernard Madoff was sentenced to 150 years for masterminding the largest Ponzi scheme in history, six times longer than the penalties meted out to the chief executives of WorldCom Inc. and Enron Corp. Madoff appeared in court today before U.S. District Judge Denny Chin for the first time since his March 12 guilty plea for an epic swindle that may have reached $65 billion. “I don’t ask for any forgiveness,” Madoff, 71, told Chin. He said he deceived his brothers, his two sons and his wife, none of whom was in the court. The courtroom burst into applause as Chin imposed the sentence. Madoff pleaded guilty to securities fraud, mail fraud, wire fraud, investment adviser fraud, three counts of money laundering, false statements, perjury, false filings with the SEC and theft from an employee benefit plan. Madoff today was led into the 11th floor courtroom in Manhattan federal court wearing a suit and flanked by federal marshals. Seated beside defense attorney Ira Sorkin, Madoff sat silently as nine former investors assailed him for a fraud that cost many their life savings. Madoff has shown “no remorse,” said victim Carla Hirschhorn, of Manalapan, New Jersey, at the hearing. She told Chin her life is a “living hell,” her mother is dependent on social security and her daughter works two jobs to pay tuition. “Don’t fail us,” she told the judge. ---http://www.bloomberg.com/apps/news?pid=20601087&sid=aSJSnxrMRRrk Quote Link to comment Share on other sites More sharing options...
OldChili Posted June 29, 2009 Report Share Posted June 29, 2009 Congrats to him. Quote Link to comment Share on other sites More sharing options...
Cobb Posted June 29, 2009 Report Share Posted June 29, 2009 LOL, at him getting 150 years. Quote Link to comment Share on other sites More sharing options...
CaliCurbStomppa Posted June 29, 2009 Report Share Posted June 29, 2009 He will be dead by then... Quote Link to comment Share on other sites More sharing options...
Art Posted June 29, 2009 Report Share Posted June 29, 2009 Can you say scapegoat... There were plenty of wrongdoers in the financial crisis, this guy was just one; The thought that one man can ruin a financial market is absurd. Quote Link to comment Share on other sites More sharing options...
The Goods Posted June 29, 2009 Report Share Posted June 29, 2009 Deserved, what a prick. Quote Link to comment Share on other sites More sharing options...
SRV Posted June 29, 2009 Report Share Posted June 29, 2009 Nice...why 150 years though? Why can't they call it life in prison? Quote Link to comment Share on other sites More sharing options...
platoon793 Posted June 29, 2009 Report Share Posted June 29, 2009 He will be dead by then...WHAT? ARE YOU KIDDING ME? I thought people lived till they are 250 years old. 150 years doesn't sound that bad. Quote Link to comment Share on other sites More sharing options...
Mike Hawk Posted June 30, 2009 Report Share Posted June 30, 2009 Can you say scapegoat... There were plenty of wrongdoers in the financial crisis, this guy was just one; The thought that one man can ruin a financial market is absurd. Only difference is he took your money illegally,While Obama does it legally by raising your taxes, these taxes have gone to hell. Quote Link to comment Share on other sites More sharing options...
Jesse The Body Posted June 30, 2009 Report Share Posted June 30, 2009 I think he'll make it. Quote Link to comment Share on other sites More sharing options...
Warren2ThaG Posted June 30, 2009 Author Report Share Posted June 30, 2009 I think he'll make it. Does he have to eat their jail food? Quote Link to comment Share on other sites More sharing options...
Jesse The Body Posted June 30, 2009 Report Share Posted June 30, 2009 Does he have to eat their jail food? We can throw that in, if it makes you feel better :o So does anyone wanna start placing bets down? If he can make it or not? Quote Link to comment Share on other sites More sharing options...
fly3rs18 Posted June 30, 2009 Report Share Posted June 30, 2009 There were plenty of wrongdoers in the financial crisis, this guy was just one; The thought that one man can ruin a financial market is absurd. he obviously didnt ruin it himself, but he screwed over many many people. a lot of people lost a lot of money because of him Quote Link to comment Share on other sites More sharing options...
Jesse The Body Posted June 30, 2009 Report Share Posted June 30, 2009 Since I have no clue who this guy is and what he did can someone explain to me what he did to get his punishment? I know he stole money but how? Quote Link to comment Share on other sites More sharing options...
EastCoastNiner Posted June 30, 2009 Report Share Posted June 30, 2009 Can you say scapegoat... There were plenty of wrongdoers in the financial crisis, this guy was just one; The thought that one man can ruin a financial market is absurd. I really don't think you know what you are talking about. He is a THIEF. He screwed MANY people over. Quote Link to comment Share on other sites More sharing options...
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