Ponzi schemer Bernard Madoff was sentenced yesterday to a prison term of 150 years Reuters reports:
Bernard Madoff’s victims gasped and cheered when he was sentenced to 150 years in prison, but they walked away knowing little more about how he carried out the biggest robbery in Wall Street history.
In one of the most dramatic courtroom conclusions to a corporate fraud case, the 71-year-old swindler was unemotional as he was berated by distraught investors during the 90-minute proceeding.
And why did he do it?
Madoff called his crime “an error of judgment” and his “failure,” reiterating previous statements that he alone was responsible for the $65 billion investment fraud.
It is simply impossible for me to believe that Mr. Madoff, now a 71 year old man, was able to perpetuate this massive a fraud for this long of a period of time (10 years) without help.
Will the U.S. be satisfied with putting Madoff away for life or will they now redirect their efforts to finding his accomplices?
Stay tuned.
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1 10 Others to Be Charged in Madoff Fraud Case, AP Source Says // Jun 30, 2009 at 9:19 am
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