Bernard Madoff sentenced 150 Years in Prison

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Bernard Madoff sentenced 150 Years in Prison

Bernard Madoff, Notorious Ponzi scammer, was sentenced 150 Years in Prison. This is for $65 billion fraud that swindled his many devastated victims. The court said that this is the message for the other people who will try to do what he did. According to abc news, Judge Denny Chin said that this sentence was a symbolic one for a crime that showed “extraordinary evil” and “took a staggering human toll.”

People who attended the court directly make the big applause when Bernard Madoff was sentenced 150 years in prison. Judge Denny Chin said that Bernard Madoff, who is 71 years old, have to live in suffer for the rest of his life.

Judge Denny Chin refuse Madoff’s lawyer to get the legal leeway. The judge predicted that Bernard Madoff has made more than US$ 13 billion fraud. This is the biggest froud in US history.

Carla Hirshborn, one of Mandoff’s victims, said that she lives in hell and she feels like having a nightmare and she couldn’t wake up again. that is because of Mandoff.

Another Mandoff’s victims, Tom Fitzmaurice, said that Mandoffs stole from the rich man, the poor man and middle class man so he and his wife could live in the luxury life.

The court decision is also followed with his assets confiscation for about US$171 billion which is includeshomes, properties, real estate, investment, and US$ 80 million assets on his wife, Ruth.

Bernard Madoff was the symbol of Wall Street’s greed. He was famous for his great reputation as investment manager with Midas touch. His clients were famous and rich people like Steven Spielberg until and actor like Kevin Bacon. For several decades, Madoff got the double digit profit. However, Mandoff’s investment was just a big lie. At the end of last year, Bernard Mandoff was caught and US federal police took him in jail.

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