Madoff Sentenced to 150 Years for Fraud!

Madoff Sentenced to 150 Years for Fraud!

www.msnbc.msn.com

Bernard Madoff was sentenced Monday to 150 years for the multibillion-dollar fraud scheme he perpetrated.

Before the sentencing, Madoff apologized to his family and to the victims of his multibillion-dollar fraud scheme Monday at a hearing for his sentencing for the investment swindle.

The 71-year-old financier said at the hearing that he “will live with this pain, this torment, for the rest of my life.”

(visit the link for the full news article)


[edit on 29-6-2009 by burntheships]

Madoff said he will live the rest of his life with this torment...

One person in the room wore a bloddy butchers flock, as his life savings was lost, and has returned to work as a butcher.

Madoffs' Lawyer said he thought 12 years would be fair!

Earlier, victims of the fraud described their ruined lives Monday to the judge sentencing the 71-year-old former Nasdaq stock market chairman.

Several hundred spectators crowded the courtroom in Manhattan to witness the sentencing of Madoff for the fraud scheme that wiped out fortunes, ruined charities and foundations and pushed some investors to commit suicide....

......“The sheer scale of the fraud calls for severe punishment,” the prosecutors wrote.


Now if we could just audit the FED!




msnbc.com
(visit the link for the full news article)


[edit on 29-6-2009 by burntheships]

Now you just know you have been bad to be sentenced for 150 years.

I can't get over this...150 years...

I was hoping for public flogging followed by a public hanging by his gonads! But that might be considered too harsh in some circles!!
Zindo

[edit on 6/29/2009 by ZindoDoone]

Madoff will never serve any hard time.

His lawyers will file appeal after appeal and he will remain free on bond to spend his hidden riches while the retired people he defrauded have to go back to work.

I hope I'm wrong.

He should be sentenced to live and work with the homeless, aids patients, till he dies. Perhaps then he could experience what it is really like in the real world.


Even if he does have to serve some time it will be in one of those cushy federal pens where they play vollyball all day.

There is no justice in America!



[edit on 29-6-2009 by whaaa]

I kind of see it useless that a 71 year old man is sentenced to 150 years in jail. He will be there until he dies ( Unless he lives to 221 then he won't ever see the outside of the jail ever.

Why not sentence him to 50 years, since he will be dead by then anyway. I just fail to see the use of sentences that obviously will be way beyond his expiry date... Who has lived to 221 anyway?

P.S - I do not have any nice feelings towards this guy, he did terrible things, which drove (I have no clue how many) people towards suicide. I just fail to really see the point of sentencing people for 150 years, despite that most people are considerably lucky to even get to 100, let alone 221..

You have to look at all the movies Kevin Bacon made, and I'm sure I could find out how much he is worth.
Apparently that kind of money just isnt enough for some people. Greed can only breed more greed. It furiates me to see these people play the victims...
I dont condone scamming people out of their money, but these people were already filthy rich...I say they got what they deserved.

Originally posted by whaaa
Madoff will never serve any hard time.

His lawyers will file appeal after appeal and he will remain free on bond.

I hope I'm wrong.

He should be sentenced to live and work with the homeless, aids patients, till he dies. Perhaps then he could experience what it is really like in the real world.


Even if he does have to serve some time it will be in one of those cushy federal pens where they play vollyball all day.


[edit on 29-6-2009 by whaaa]

I think the people that invested their money with this guy could use a good dose of the same treatment..

reply to post by Mailman


A large percentage of investors were not private individuals but many folks 401K's and pension funds. In this case many if not most had no idea about where their money was placed. Simply because a few who thought they wanted to protect what they have worked for doesn't mean they deserve the scorn of being the greedy. They where pointed out in the MSM as examples of those that where scammed to give a recognizable face to what he did!

Zindo

Did he declare he was guilty so they didn't involve others who were complicit to the crime.

His wife withdrew $15million whist he was on bail and his two sons must be millionaires as well; they all need to be lynched.

I lump a man like this into the same cesspool as serial rapists, pedophiles, and deviant perverts in general because all of their victims are left to live their lives in shambles after the crime while the perps. continually got their kicks for years prior to getting caught.

I'm with Zindo regarding his idea of public punishment and humiliation for the likes of Madoff an others like him.

Please somebody make this fool serve some of that prison time before he dies. That sentence is useless if he never serves a day of it before he dies.

I also believe they need to go after his family's money and overseas accounts.

The main reason he got 150 years is to allow people to focus on him and make him symbolic of all the other fraudsters on Wall Street, thus expiating their guilt. A scapegoat...similar to the "sin-eaters" of old. He's eating Wall Street's sins for them. Case closed, let's go back to partying again.

However, if it's a start, then good. Now let's get Geithner, Bernanke, Paulson, Lewis, Goldman-Sachs, and the rest of the elite New York financial criminal class.

Here's the problem I have with the whole Madoff scam:

When Bernie Madoff takes money from later investors to pay off earlier ones, it's called a "Ponzi Scheme" and is illegal.

When the US Government does it, it's called "Social Security".

I fail to see the distinction. Can someone please enlighten me, or should the people in charge of SS also be going to jail for the same reasons?

Originally posted by ZindoDoone
I was hoping for public flogging followed by a public hanging by his gonads! But that might be considered too harsh in some circles!!
Zindo

Apparently the 150 years is the maximum allowed. So...
Madoff Gets the Max: 150 Years in Jail

A sizable roster of public school teachers, farmers, mechanics and other middle class folk are also among the victims. Many had been enjoying a comfortable retirement until Madoff's arrest in December. Now, nest eggs gone, they are struggling to pay the bills.

www.nbcnewyork.com...

[edit on 29-6-2009 by burntheships]

reply to post by Aoxoa


50 years. 150 years. Whats it matter either way? He should die in prison period.

Im glad he got this. However, our current government is not held accountable at all - and even praised still. Hypocrisy drives me insane.

This is a great example of why my [now dead] rich grandfather buried a lot of his money in various places - he did not trust anyone handling his hard earned money.

Who cares 150 years or 30 years or 1 million years its all worhtless.

The judge should have given him a real incentive to talk about the other people everyone knows are involved and in help recouping the money.

I am sure the investors would rather have madoff serve 12 years or even the full 150 in a club fed if it meant that the other parties involved also where reprimanded and/or that the money they lost was recouped in a larger %.

Step right up and see the freak show!

To the door on my left we have a bazillionair investor who lost all his money and faked all the returns!

To the door on my right we have a defunct SEC who can not regulate the markets to protect shareholders and investors!


Step right up and see for yourself which the American public choose to focus their eye on. Step right up and see 300 million people stay distracted from the real cause of this problem! Watch as we make another 500,000 jobs disappear! Be mystified when they turn against the only democratic institution they have! Behold as they digest lie after lie! Watch them slowly die!

Step right up and see the freak show! Only in America! Admission is FREE!

I actually believe a great punishment in conjunction with his prison term would be to SERVE PEOPLE. He should be forced to work in shelters/food banks 8hrs a day - no pay - and feed and help the needy. Than he can go back to his cell at night.

They just threw more tax payer dollars down the drain with this trial. It was all a sham and once again the public fell for it.

His family was able to keep huge sums of the money which he will also enjoy because he will never do a day of hard time. His high priced lawyers will make sure of that. I wonder where the money is coming from to pay them?

The public has been screwed again