Bernie Madoff goes directly to jail

New York Times

Bernard Madoff pled guilty today to 11 counts of fraud, money laundering, perjury and theft.  He was immediately handcuffed and taken to jail.  At age 70, he’s looking at a possible 150 years. Sentencing is set for June 16.

“He has incentive to flee, he has the means to flee, and thus he presents the risk of flight,” Judge Chin said. “Bail is revoked.”

Finally, Madoff is treated like the criminal he really is.

Mr. Madoff acknowledged that he had “deeply hurt many, many people, including the members of my family, my closest friends, business associates and the thousands of clients who gave me their money,” adding, “I cannot adequately express how sorry I am for what I have done.”

You might start by giving all that money back to your victims.  Just a thought…

Read the whole story here.

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3 thoughts on “Bernie Madoff goes directly to jail

  1. He’s sorry he “deeply hurt many, many people”?
    It’s not like he simply said mean things which weren’t
    true, he’s destroyed lives (though for some of his victims, tough titties for so naive and greedy).

    But there’s also the collusion of the SEC and others to look into. Madoff may be a poster-boy but others distributed the poster.

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