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Madoff sentenced to 150 years in prison
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| Contributor | Craverguy |
| Last Edited | Craverguy Jun 30, 2009 12:36am |
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| Category | Legal Ruling |
| News Date | Tuesday, June 30, 2009 12:00:00 AM UTC0:0 |
| Description | NEW YORK - Two weeks after Norma Hill and her husband invested their life savings with Bernard Madoff, she came to the then-trusted money manager with news her spouse suddenly died.
Madoff “put his arm around my shoulder and assured me my money was safe and I should not worry,” she wrote.
In the end, the widow lost everything.
U.S. District Judge Denny Chin cited Hill’s letter as one of the most stirring examples of an “extraordinarily evil” fraud, one worthy of a staggering sentence for Madoff: 150 years behind bars.
The sentence went far beyond the 12 years suggested by Madoff’s lawyers and virtually guaranteed that, at age 71, the financier-turned-felon would die while imprisoned. Chin said the term was meant to symbolically fit the crime — a multibillion-dollar fraud that’s been called the largest in history.
“Here, the message must be sent that Mr. Madoff’s crimes were extraordinarily evil and that this kind of irresponsible manipulation of the system is not merely a bloodless financial crime that takes place just on paper, but it is instead ... one that takes a staggering human toll,” Chin said. |
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