# Bernard Madoff gets maximum 150 years in prison



## cheerio (May 16, 2009)

http://news.yahoo.com/s/ap/us_madoff_scandal

I believe he deserves every year he gets as long as he does not go to one of those country club prisons


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## Joe Paul Jr. (Feb 12, 2009)

If anyone truly needed a Kindle....


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## Dori (Oct 28, 2008)

If you think the returns you are getting on investments are too good to be true,  THEY PROBABLY ARE.


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## Kind (Jan 28, 2009)

I wonder if he actually is going to jail. Maybe he'll go to "jail" for the media but a few months later, just enjoy the rest of his life in some exotic place. He had PLENTY of money to bribe the people involved in the case. If I were in his position, that's what I would be trying to do.


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## Forster (Mar 9, 2009)

I don't want to get too political here, but a much more fitting punishment would be for him and anyone in his family that benefited from the misdeeds forfeit *every worldly possession* that they have control of until what was stolen was paid in full or they become penniless, whichever comes first. I don't care if they end up on the street living off of charity or in homeless shelters.

Too many investment schemers such as Madoff and corrupt CEO's have done far too much damage to too many people to let them or their families keep anything. Where the heck is the deterrent if they know their families will be able to keep 10 homesteads in 10 different states etc., etc., etc. Give them the same treatment as drug dealers who forfeit all property.

Still smarting from my WorldCom stock going to zero and a more local Montana Power Company fiasco/theft. 

Sorry rant off.


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## cheerio (May 16, 2009)

Joe Paul Jr. said:


> If anyone truly needed a Kindle....


lol


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## Kathy (Nov 5, 2008)

Forster said:


> I don't want to get too political here, but a much more fitting punishment would be for him and anyone in his family that benefited from the misdeeds forfeit *every worldly possession* that they have control of until what was stolen was paid in full or they become penniless, whichever comes first. I don't care if they end up on the street living off of charity or in homeless shelters.
> 
> Too many investment schemers such as Madoff and corrupt CEO's have done far too much damage to too many people to let them or their families keep anything. Where the heck is the deterrent if they know their families will be able to keep 10 homesteads in 10 different states etc., etc., etc. Give them the same treatment as drug dealers who forfeit all property.
> 
> ...


I believe I read that they are not allowing Mrs. Madoff to keep any of the property including her apartment, cars and boat. She is going to have about $2 million left. Poor thing, I hope she can make it on that.


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## Tippy (Dec 8, 2008)

It would be interesting to know why they left her $2 million.  I don't see this as a political issue, but a criminal issue.  Sounds like Madoff got what he deserved.  It also sounds like the government is going after others who benefitted from Madoff's schemes and may have known what he was doing.

Parole was abolished in Federal Court.  However, Madoff will receive roughly, but not quite, 2 months per year good time.  Counting good time, he should spend 125 years in jail.  Shortly before he can be released, he would be sent to a halfway house and finally released.  

Of course, he can  

1) appeal the sentence.  The Court of Appeals could determine the length of the sentence is too great.  I don't what circuit they are in.  My circuit court of appeals is very conservative and a reduction unlikely.  

2) Perhaps he could cooperate with the authorities in their prosecution of his cronies.  I have seen this happen and a 50% reduction in sentence would result in 75 years in prison.  

It sounds to me like Madoff will probably die in prison.


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## Kathy (Nov 5, 2008)

This is the story I saw about the money.

"Ruth Madoff will feel some of her husband's pain as well. Last week, a judge issued a preliminary $171 billion forfeiture order stripping Madoff of all his personal property, including real estate, investments, and $80 million in assets she had claimed were hers. The order left her with $2.5 million. "

Link: http://www.cbsnews.com/stories/2009/06/29/business/main5122176.shtml


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## Ann in Arlington (Oct 27, 2008)

My understanding is 150 was the maximum he could get.  His lawyers were asking for 12 or something.  Before sentencing the scuttlebutt was that he'd get 25 or 30.  But it sounds like the judge was not sympathetic.  Maybe he'll get a reduction if he gives up some of the people that helped him steal the money.  Either way I guess he'll die in jail. . . .


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## cytorath (Jun 27, 2009)

I heard they even took the bedsheets.


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## Ann in Arlington (Oct 27, 2008)

Suddenly, I have an image of that scene in "A Christmas Carol", where on a "Christmas yet to come" the lady who's supposed to be prepping him for burial is stealing the drapes from his bed.


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## Sweety18 (Feb 14, 2009)

I'm glad he got 150 years!!  He truly deserves it!


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## Bren S. (May 10, 2009)

Forster said:


> I don't want to get too political here, but a much more fitting punishment would be for him and anyone in his family that benefited from the misdeeds forfeit *every worldly possession* that they have control of until what was stolen was paid in full or they become penniless, whichever comes first. I don't care if they end up on the street living off of charity or in homeless shelters.
> 
> Too many investment schemers such as Madoff and corrupt CEO's have done far too much damage to too many people to let them or their families keep anything. Where the heck is the deterrent if they know their families will be able to keep 10 homesteads in 10 different states etc., etc., etc. Give them the same treatment as drug dealers who forfeit all property.
> 
> ...


I agree 100%!


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## Bren S. (May 10, 2009)

Joe Paul Jr. said:


> If anyone truly needed a Kindle....


lol needs but definitely doesn't deserve


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## Bren S. (May 10, 2009)

Kathy said:


> I believe I read that they are not allowing Mrs. Madoff to keep any of the property including her apartment, cars and boat. She is going to have about $2 million left. Poor thing, I hope she can make it on that.


That's $1,999,999.99 more than she deserves.


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## jpmorgan49 (Feb 10, 2009)

Now if they'd just put him in a Real prison like Stateville, and not a "Country Club" prison that the White Collar criminals actually serve their time.  I believe his crime was much worse than a man that robs a store and shoots someone so he can provide for his family. Bernard literally ruin many, many lives.  He deserves a REAL prison.
jp


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## Tippy (Dec 8, 2008)

Sugar said:


> lol needs but definitely doesn't deserve


Definitely needs, but can't afford. . . OR one of the other inmates will steal it from him. I think even a 'country club' prison will be tough on him. Can't imagine he is well loved anywhere. Also, wait until the Financial Litigation Unit takes in after Mrs. Madoff. Ughhhh She's gonna hate that.


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## Cowgirl (Nov 1, 2008)

I want to know who else was in on this.  I have my securities license and I know what is involved in buying and trading stocks and producing statements.  He didn't do this alone. Auditors, SEC all looking the other way or in on it I know what I have to go through to keep my licenses current.  There is a lot of oversite.  If I had so much as a DWI my license would be pulled.  I just don't see how this happened without a lot of people knowing about it.


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## koolmnbv (Mar 25, 2009)

I watched this earlier and I forgot to check when I got home what his sentence ended up being. 

I hope his wife was truly un-involved.


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## Bren S. (May 10, 2009)

koolmnbv said:


> I watched this earlier and I forgot to check when I got home what his sentence ended up being.
> 
> I hope his wife was truly un-involved.


I hope so too,but I seriously doubt it.


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## Bren S. (May 10, 2009)

Cowgirl said:


> I want to know who else was in on this. I have my securities license and I know what is involved in buying and trading stocks and producing statements. He didn't do this alone. Auditors, SEC all looking the other way or in on it I know what I have to go through to keep my licenses current. There is a lot of oversite. If I had so much as a DWI my license would be pulled. I just don't see how this happened without a lot of people knowing about it.


I suspect not only did a lot of other people know about,I think a lot of people were involved,and benefited from it.


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## Rasputina (May 6, 2009)

I don't have a problem with the sentence, however I heard a quote from the judge said he was giving him that amount of time partly to "send a message". IMO ones sentence should be based on the crime and the law, not on "sending a message" to others.


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## Forster (Mar 9, 2009)

Rasputina said:


> I don't have a problem with the sentence, however I heard a quote from the judge said he was giving him that amount of time partly to "send a message". IMO ones sentence should be based on the crime and the law, not on "sending a message" to others.


It was based on the law and given the egregious nature of the crime(s) I think it fitting that the sentence is the maximum allowed by the law. There is also nothing wrong with the sentence being used as a deterrent to other would be Madoffs. Were is the deterrent factor if the worst that will happen to them, if they get caught, is spend a few years in jail and still be set financially for life when they get out?


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## kindle zen (Mar 18, 2009)

Joe Paul Jr. said:


> If anyone truly needed a Kindle....


i'd gladly give madoff my KK absolutely free of charge...plus the battery for $60 billion.


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## MineKinder (Jan 5, 2009)

Notice-how he kept "His" two sons uninvolved, but thought nothing of the thousands of other families, he devastated.
And his Wife


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## Susan in VA (Apr 3, 2009)

Rasputina said:


> I don't have a problem with the sentence, however I heard a quote from the judge said he was giving him that amount of time partly to "send a message". IMO ones sentence should be based on the crime and the law, not on "sending a message" to others.


Agreed, but because of his age, anything over 20 years is really just "sending a message". I guess they have to make it much more so that the next guy doesn't think if he gets caught he'll only do 20 years too.


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## koolmnbv (Mar 25, 2009)

kindle zen said:


> i'd gladly give madoff my KK absolutely free of charge...plus the battery for $60 billion.


hmmm I could really use that money so I would probably give mine away too. Even though he doesn't deserve it and really I would just be taking someone elses hard earned money. Maybe my moral conscience wouldn't let me make that deal in the end.


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## Meemo (Oct 27, 2008)

Kathy said:


> I believe I read that they are not allowing Mrs. Madoff to keep any of the property including her apartment, cars and boat. She is going to have about $2 million left. Poor thing, I hope she can make it on that.


Yeah, bless her heart. 
She belongs in jail too.


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## Tippy (Dec 8, 2008)

The judge may have imposed a harsh sentence to 'send a message'.  However, he has also managed to keep Madoff in jail the rest of his life.  

Madoff may have 'protected' his sons.  But do you really believe they didn't have an idea about what was going on?  Maybe not enough to be charged, but they had to know something was not right.  If BM was that kind of a skunk to others, you can just about guess he wasn't the best father either.


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## Susan in VA (Apr 3, 2009)

Tippy said:


> Madoff may have 'protected' his sons. But do you really believe they didn't have an idea about what was going on? Maybe not enough to be charged, but they had to know something was not right.


I'm not saying that the sons and his wife weren't in on it, but it is certainly_ *possible*_ that they didn't know. I had a business partner for close to twenty years who was a low-life evil nasty toad, and even though I knew that his treatment of clients was sometimes less than customer-friendly (like holding them to fulfillment of a contract even though they had a family emergency), I did not know until after his death that he had been engaging in a number of ongoing shady business practices, all still _technically_ legal but seriously unethical. And we were in touch almost daily by phone, fax, email -- there was enough legitimate business that I never had any indication there were other things going on as well.

"Just sayin'..."


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## Ann in Arlington (Oct 27, 2008)

On the Daily Show last night, they joked that the judge gave Madoff a choice of sentences and he chose the 150 years.  His other option was to be let go to walk home with no security or bodyguards.


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## Susan in VA (Apr 3, 2009)

Ann in Arlington said:


> On the Daily Show last night, they joked that the judge gave Madoff a choice of sentences and he chose the 150 years. His other option was to be let go to walk home with no security or bodyguards.


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## Tippy (Dec 8, 2008)

Susan, I agree his sons and wife may not have known exactly what was going on.  I believe I took this a step too far by assuming they are guilty simply by association.


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## Susan in VA (Apr 3, 2009)

Tippy said:


> Susan, I agree his sons and wife may not have known exactly what was going on. I believe I took this a step too far by assuming they are guilty simply by association.


I think most people are assuming the same thing! You didn't go too far... I just wanted to point out that "t'ain't necessarily so".


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## Cowgirl (Nov 1, 2008)

Tippy...I get what you're saying.  They may or may not have been in on it but it is hard to believe that his wife while living in the same house didn't overhear or see something.  Maybe Bernie Madoff can give his wife a few tips on investing that 2.5 million she gets to keep.  She'll be cleaning houses for a living like several of the women he swindled.  Sorry...but I'm bitter about this whole mess.


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## Ann in Arlington (Oct 27, 2008)

My experience preparing tax returns for people has taught me that some people are, in fact, clueless and ignorant -- especially many older women:  they had been taken care of by their fathers until they got married and were then taken care of by husbands and never learned how to handle finances themselves.  When the husband dies, they really don't have any idea where money had come from or how their clothes and food were paid for.  In some cases, she has never written a check or paid a bill.  Happily, it is happening less and less often, but when I first started  -- over 20 years ago -- I saw several such cases a year.  Always silently blessed and thanked my parents for making sure I'd be able to deal with such things myself if I had to.  Of course, as it is, it might be my DH in that position when I'm gone!  LOL!


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## Susan in VA (Apr 3, 2009)

DD's dad still gets weekly (at least!) calls from his widowed dad who has no idea how to handle some of the routine financial things.  Apparently he went to work and his wife handled EVERYTHING else.  He'd never even written a check to pay a bill (and online ANYTHING is totally out of the question).  Three years after her death he still relies on his son to explain the paperwork every time something new arrives in the mail.

I think spouses would do each other a big favor if they made sure that the survivor knows how to deal with the routine daily tasks and paperwork...


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## Forster (Mar 9, 2009)

I don't care whether his wife and kids knew or not as far as reparations go, I might feel bad for them if they were ignorant, but not as bad as I feel for the victims.  The bottom line is if they spent more money than they had from legitimate sources, i.e. wifes inheritance or whatever, that money should be considered spent before the stolen money is considered spent.  If they spent more than what they had from legitimate sources and they are left destitute, well that is just too bad, better them than the victims who's money was stolen.


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## Dori (Oct 28, 2008)

Amen Forster.


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## sigrosenblum (Dec 22, 2008)

Re Mrs. Madoff: 

My understanding is that even though she has an agreement with the prosecutors, she will not be insulated from indictment if further evidence is uncovered. Nor will she be shielded from civil suits--and she can expect plenty of those.


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