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Tag Archives | Bernard Madoff

Bernard Madoff sentenced to 150 years in prison

Convicted swindler Bernard Madoff will spend the rest of his life behind bars. Today a New York Judge sentenced 71-year-old Madoff to the maximum term, 150 years. Many of Madoff’s victims, who were in court, broke out in applause when the sentence was announced. Earlier in the proceedings, Madoff apologized to his victims for what is estimated to be at least a $50 billion fraud. Madoff was convicted of running the largest Ponzi scheme ever. In court today, some of his victims spoke bitterly of how the scheme had wiped... Read More →

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Bernard Madoff: Big time swindler goes to jail

Court sketch of Bernard Madoff (middle/gray tie)  by Shirley Shepard/Reuters photo by Carolyn Cole/ Los Angeles Times   Some justice today for victims of that reported $65 billion Ponzi scheme ran by disgraced financier, Bernard Madoff. In a New York federal court this morning, the 70-year-old Madoff pleaded guilty to all 11 counts against him while many of the investors he cheated looked on. Madoff, reading from a prepared statement, apologized for what he admitted was a worldwide scheme, which started during the 1990s: “When I began the Ponzi scheme I believed... Read More →

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