Tuesday, June 30, 2009

Madoff sentenced to 150 years

As reported on June 29th, 2009 by Aaron Smith, CNNMoney.com

NEW YORK (CNNMoney.com) -- A federal judge sentenced Bernard Madoff, the convicted mastermind of the largest and most sweeping Ponzi scheme ever, to the maximum sentence of 150 years in federal court Monday. Shortly before receiving his sentence, Madoff offered an apology, which he delivered facing Judge Chin.
"I live in a tormented state for all the pain and suffering I created," he said. "I left a legacy of shame. It is something I will live with for the rest of my life." Madoff said he was not asking for forgiveness and not offering any excuses for his behavior. "How can you excuse betraying thousands of investors?" he asked. "How can you excuse deceiving hundreds of employees? How can you excuse lying to and deceiving your wife who still stands by you?" Madoff then said, "I apologize to my victims. I will turn and face you." Addressing the victims in the courtroom directly, he offered, "I am sorry. I know it will not help you."
Lawyer Ira Lee Sorkin, who represents Madoff, asked for a 12-year sentence. In a letter to the judge, Sorkin explained that his 71-year-old client "has an approximate life expectancy of 13 years" and isn't likely to outlive the requested sentence by more than a year.

Editor Rozek’s Notes: Well…12 years,…150 years…potato/ pototo! It seems that many people are a little angry with him. I’m not sure why no one seemed to fall for this sociopath’s apology? He felt bad…I mean…really bad!…that his wife was going to have to return her fur…and that he got caught. His lawyer figured out his exact life expectancy in order to request one year free before he died? That’s so nice! The judge must’ve been working with a different team of doctors. Apparently he is expected to live until age 222…that way he’ll get that extra free year that he wanted so badly to go bungee jumping…and to go to Disneyland!

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