Madoff pleads guilty
 

http://money.cnn.com/2009/03/12/news...ance/index.htm

All 11 counts. Guilty.

taking bets on his sentence,...

Well, they say it could be up to 150 years but really, at 70 years old he'd last what.. 10?

But since he's rich and all, I'd guess he's confined to his house or something stupid like that, to live out his days in the lap of luxury to pay for his crimes.

Besides, as the last sentences says... only a fraction of the money has been found. That would be the real punishment. Take that all away. But they will never find it all.

As I said in another thread I'm sure he has a deal where his sentence will get reduced for every billion he returns. The guy who founded all those boy bands got that kind of deal when he was sentenced.

interesting

the boy band guy was also a member of the dominating ethnic minority

Nice! :thumbsup

Thank god he's not going to drag this thing out and fight.

yeap.. .hes now going to get a life sentence.... but even if they were to give him 20 years (which is not possible at all I know) ... that would be life for him...

Also.. I hear he is going to a SuperMax because of the size of the fraud ... now thats crazy lol...

I hope they yank all assets and money from the wife and sons to.. "they didn't know" is full of shit.

Nice, applause to that!

FINALLY he's going to JAIL. No more penthouse apartment.

Simply put. The judge should say.. Give every dime back or you get 150 years in a STATE prison.. NOT FEDERAL CAMP CUPCAKE

he will not be put anywhere near "rapists"

and he will be allowed to spend your tax money worshipping his lord, which he seemed to forget about when committing his crime..

http://www.bloomberg.com/apps/news?p...d=aQfzxHFaj_Co

gotta love being placed in certain prisons becaue of your religion LOL

it's such bullshit.. like his bail / bond arrangement. He has to pay the state of new york X amount for guards, etc. The guy shoudl have NO MONEY AT ALL. Every fucking dime should be frozen and turned over.

If he was someone else and had stolen jewelry from a jewelry store and given it to his wife, the law would take it back. If someone stole a car from a dealership and gave it to their son, the law would take it back. So in my opinion all the assets he transfered to his family members gets seized to- it's not rocket science, it's STOLEN MONEY.

If they don't throw the book at this guy, which if what's been going on so far is any indication they won't, it provides 0 deterrent to curb other people from stepping right into his shoes.

Yah yah, old news by now.
Frankly I am surprised no one took revenge on this guy hired a hit man and wack him off. Maybe it will happen in jail.

http://money.cnn.com/2009/03/12/news...ance/index.htm

"I operated a Ponzi scheme," said Madoff to the packed courtroom, after U.S. District Judge Denny Chin told him to explain his crimes.

"I thought it would end quickly, but it proved impossible," said Madoff, who stole from more than 4,000 victims through his investment firm. "I am ashamed for these criminal acts. I always knew this day would come."

...

Richard Friedman, an accountant who said he lost $3.1 million to Madoff, told CNN that he hopes Madoff is sentenced to the full 150 years and that he "lives a very long life" in prison.

"The crime is really unimaginable," said Friedman. "It's not just a typical Ponzi scheme. It affects society as a whole. You don't just have to be a Madoff investor to be affected by this."

Friedman also blamed the Securities and Exchange Commission for allowing the scheme to go undetected for so long, and said that Madoff's family members are probably complicit and should go to prison.

"There's no way he could have acted alone," said Friedman. "There had to be other people involved. The whole family, as far as I'm concerned, once proof becomes available, should be thrown in jail."

150 years won't get that money back
but will be a good example for the future Madoffs

he's already dead (over 70yo) so smaller sentence will make no sense
big sentence will be a message not to fuck with other peoples' money like he did...

anyone who thinks the wife is not in on this is the same ones whod fall for Ponzi scheme.

he was mailing her stuff while waiting to be arrested !!! :1orglaugh

"heres 4 mil in cash and a bag of diamonds and rubys, stash em for me"

agreed :thumbsup