Bernard Madoff Sentenced to 150 Years in Prison

June 29th, 2009

We still don’t know who his accomplices were, or where the money went.

Via: 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.

2 Responses to “Bernard Madoff Sentenced to 150 Years in Prison”

  1. Eileen says:

    With this verdict – and how much do you want to bet? Bernie is scheduled to have his “heart attack” here soon. He will henceforth go to the “cemetary” wherein Ken Lay resides.
    Still don’t know what happened with Ken’s ill gotten cash either.
    I’m thinking of all that cash in a bank on an island subject to the rising seas of global warming (its all an illusion folks – not happening- that rising water is all of the sun’s fault) getting soggy and wet. Maybe Ken and Bernie can make a life raft out of paper dollar maiche that will rescue them when their “Treasure Island” is flooded and sinking?
    One can only wish.
    150 years. Sure. A “sudden death” just waiting to happen.

  2. Eileen says:

    P.S. Did Madoff actually say he didn’t ask for forgiveness?
    Holy crap. Brass BALLS.

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