Manhattan Federal Court Judge Denny Chin threw the book at Bernie Madoff, he gave him the maximum penalty, 150 years in prison.
“Here, the message must be sent that Mr. Madoff’s crimes were extraordinarily evil,” Chin said. “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.”
Bernie Madoff, engineered a $65 billion dollar fraud scheme that rocked the financial world to its core.
Madoff’s sentence will be little consolation to his many victims, who include Hall of Fame pitcher Sandy Koufax, Mets owner Fred Wilpon, talk show host Larry King, studio exec Jeffrey Katzenberg, actor Kevin Bacon and famed director Pedro Almodovar.
Madoff also ripped off millions from major Jewish organizations, including Yeshiva University, the Elie Wiesel Foundation for Humanity and the Gift of Life Foundation, a Jewish bone-marrow registry.
As one victim put it, Bernie Madoff stole from the rich, the poor and the in between, he even stole from a Nobel Prize-winning Holocaust chronicler Elie Wiesel.
Here’s a link to the NY Daily New’s article ” Bye, Bye Bernie.”
Out of the thousands that were affected by history’s biggest Ponzi scheme, scores of them were golfers, as was Madoff himself. He used his many golf club memberships as a venue to fleece many of the game’s fat cats, whose trust (and trusts) was the lifeblood of his ploy.
Here’s the full article from Golf.com Bernie Madoff’s golf memberships provided the perfect venue to run the largest Ponzi scheme in history.
So, now he’ll spend the rest of his life in prison, being supported by the tax payers dollars and the thousands of investors he screwed over will recover little or nothing of what Bernie Madoff took from them. I know this is “justice” but I can’t help but feel like this is an empty victory for all those affected.
There’s one 86 year old woman who’s gone from millionaire to maid and now had to spend the rest of her days working to put food in her belly. Imagine what it feels like to work your whole life to be able to live comfortably in the end and wake up one morning realizing that you’ve got nothing to show for it.
Sure, 150 years in prison is quite a lot of time, but he’s 70 years old, that means he’ll serve what, 10-15 before he kicks the bucket? I think they should make him work the toughest, dirtiest most labor intensive jobs for the remainder of his life and all of the wages he earns must be sent to all those he screwed over. I know it does not begin to scratch the surface of what he’s swindled, but at the very least he can suffer right along with many of those he cheated.
Just my thoughts… Dave for President anyone?
Loading ...
I think for us hackers this would be a great addition to the arsenal. Think about it… Who spends the most of their time in the trees?