Bernard Madoff has been sentenced to 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, June 29.
The 71-year-old former Nasdaq chairman was arrested
late last year after confessing to his sons that his secretive investment advisory business was a "big lie."
He pleaded guilty to securities fraud and other charges in March and has been jailed since.
Minutes before the sentence was handed down, Madoff apologized to his family and to the victims of his multibillion-dollar fraud scheme. The financier said that
he "will live with this pain, this torment, for the rest of my life." Madoff says that he dug himself "deeper into a hole" as the scheme progressed.
Madoff had pleaded guilty to securities fraud and other charges in March and has been jailed ever since.
Madoff, wearing a dark suit, white shirt and a tie, sat and listened as emotional witnesses described how he spoiled their security, and they urged Judge Chin to send him to prison for life.
"Life has been a living hell. It feels like the nightmare we can’t wake from," said Carla Hirshhorn.
"He stole from the rich. He stole from the poor. He stole from the in between. He had no values," said Tom Fitzmaurice. "He cheated his victims out of their money so he and his wife Ruth could live a life of luxury beyond belief."
Read more here….Businessweek.com
"He stole from the rich. He stole from the poor. He stole from the in between. He had no values" That’s Bernard Madoff for you. I think he’s ruthless, heartless… he has no conscience. He got his sentence.
However it is so apalling to know that there are still some people who are just like Maldoff, but always get away with it. Even more amazing sometimes, they go places… (they can even go abroad!) living on other people’s hard-earned money! Such disgusting parasites! How? How can they live such a life? How can such trash even exist at all? I pity the people who work so hard to earn for a living and trust their money to trashy criminals like these who definitely deserve to be put in prison for the rest of their lives!
Bernard Madoff is just one person. Now he’s paying for his crime. But there are still plenty out there, one I know (actually there are two of them… it runs in their blood), lurking in the streets, watching and waiting for that opportunity to swindle another trusting, innocent person… BEWARE! Don’t be deceived! Dont be too naive and too gullible! He may get to you with his smooth-talking and "know-it-all" disguise! Once he does get to you, you might never have the chance to get back what belongs to you ever again…because he always runs and gets away with it all the time!