Monday, June 29, 2009

Bernie Madoff gets 150 years

From The AP:



Bernard Madoff gets maximum 150 years in prison
NEW YORK — Bernard Madoff has been sentenced to the maximum 150 years in prison for his multibillion-dollar fraud scheme. U.S. District Judge Denny Chin handed down the sentence in New York on Monday.

Defense attorneys had sought 12 years, while prosecutors wanted the maximum. The federal probation department had recommended 50 years. Chin called the fraud "staggering" and noted that it spanned more than 20 years. He says "the breach of trust was massive."

(enlarge photo)Michael De Vita, a victim of Bernard Madoff's ponzi scheme, speaks to reporters before Madoff's sentencing outside Manhattan federal court in New York, Monday, June 29, 2009. (AP Photo/Seth Wenig)
The 71-year-old former Nasdaq chairman pleaded guilty to securities fraud and other charges in March and has been jailed since.


He's only a cog. I want all the rest of them that helped him pull off his scam.

1 comment:

ed said...

Isn't a Ponzi scheme just like Social Security.
Check out my take and stick around for more good content.
http://libertarianhumor.com/2009/06/29/not-so-fresh-fish/