Tuesday, June 30, 2009

ZenTiger 150 year fixed term deposit

A federal judge rejected Bernard Madoff's plea for leniency Monday, sentencing the 71-year-old swindler to spend the rest of his life in prison for an "extraordinarily evil" fraud that took a "staggering toll" on thousands of victims.

So Madoff gets 150 years in prison with no parole (none of that concurrent sentencing nonsense we get in NZ) and his wife walks away with "only" 2.5 million, losing the 80 million she felt was rightfully hers.

And maybe there's a Swiss Bank Account, and maybe there isn't.

For all those that lost their life savings, it may be a small comfort. I wonder exactly where those billions ended up. Some people have made money out of this somewhere.

Related Link: Bernie Maddoff in 150 year fixed term deposit

2 comment(s):

I.M Fletcher said...

It doesn't seem like much of a punishment to me. The guy is 71 now: his life is almost over, and he's lived it in luxury using other people's money to finance his yachts, houses, cars, etc. If he'd been 30 I would have said it was a punishment, but now I can't see how he'd care too much...

MathewK said...

If only we could get a similar sentence for rapists, murderers and pedophiles.

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