Madoff Finally Get What He Deserves (Update with Video added)

Posted on June 29th, 2009 by Blowfish

Today, U.S. District Judge Denny Chin sentenced the heartless thief to a maximum of 150 years in prison for one of the largest Ponzi Schemes committed by a single person.

For years, Benard Madoff has been basically robbing his clients blind and leading them to believe that their life investments were being well taken care of. NOT! This man obviously has no soul and felt no remorse for swindling people out of their money. What I would like to know is, was this man given some type of psychological evaluation, because I don’t believe anyone in their right mind would steal from people the way this man did and not think twice about it.

The 71 year old has been running this Ponzi scheme since the early 90’s and fabricated gains of approximately $65 billion. Madoff ran his scheme so smoothly that he was able to convince celebrities such as Steven Spielberg, Kevin Bacon, and Sandy Koufax to entrust him with their money and produced double digit returns for them.

60 Minutes did a great story on the Whistle Blower, Harry Markopolos, and Bernie Madoff several month ago. (Notice how easy it was to figure out that Madoff was a fraud, yet the SEC couldn’t figure this out for years.) Watch the video:

Watch CBS Videos Online

For years Madoff seemed to have it all from a $7 million Manhattan apartment, $11 million estate in Palm Beach, Fla., and a $4 million home in Montauk just to name a FEW things until he decided to reveal his scheme to his two sons last December, telling them it was all a big lie.
I want to know why this man felt like he had the right to take other people’s money and spend it on a lavish lifestyle for him and his wife who supposedly knew nothing of her husband’s heinous crime.

Then, I wonder how his sons must have felt after learning of their father’s scheme. That has to be hard; discovering one of your parents is involved in such a ruthless, cold hearted, criminal act. I must say one thing about Madoff, when asked if he had anything to say, he had the decency to stand and face his victims and apologize. Wow, that really helps them out of their financial woes caused by him.

And one other thing, Madoff had the nerve to request leniency however that request was denied.

Tags: Corporate Wrongs, Domestic Issues, Economy // View Comments

  • Scott -

    Everyone on Wall Street knew what Bernie was doing. That is the sad part of this equation that no one is talking about.

    Thanks for your thoughts.
  • ecthompson
    Scott -

    Everyone on Wall Street knew what Bernie was doing. That is the sad part of this equation that no one is talking about.

    Thanks for your thoughts.
  • Scott
    I think there is more to this. Where was all the protections of the SEC and the other groups calling BS to Madoff. I guess there arent any ethics in business.
  • Scott
    I think there is more to this. Where was all the protections of the SEC and the other groups calling BS to Madoff. I guess there arent any ethics in business.
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