By now you’ve probably heard the news that Bernard Madoff, 70, was charged today in a sweeping 11-count criminal information filing that spans more than 20 years of alleged felonious acts.
The 25-page document describes a “massive” Ponzi scheme that drained billions of dollars from the coffers of individual investors, charitable organizations, trusts, pension funds, and hedge funds, among others.
Joseph Demarest Jr., the acting U.S. attorney for the Southern District of New York, helpfully included a spreadsheet of all the charges and the attendant statutory maximum sentences. The sum total -- 150 years in prison -- raises “deterrence” to a whole new level.
Read on.
1 comment:
Ok listen up here's a plan that worked very well before so it might be used again. Madoff will fake his death like Ken Lay did and live the good life. Now before anyone says this couldn't happen. Think about the fact that Ken Lay was about to go to jail then died from an illness ne never had. The Police were called much later and were not allowed to see the body. The Corner was told not to report anything and not to let anyone see the body but take it directly to the funneral home. Within 48 hours Ken was buried and no press was allowed. Remember the trip Bush took to the Chicago bank that had the shareholders of Enrons money and Bush signed the release form. Now when Ken is picked up with Madoff I don't want to hear one word from those who believed the fact story of their deaths.
I noticed something else Madoff wasn't charged with the Rico Act but his actions gave a prima faca case for it. Now Jean Palfrey didn't commit a crime under the rules of Rico but was charged and convicted. All Jean's assets were taken when she was charged yet Madoff is giving his wife millions and the penthouse and no Prosecutor is asking for the money Madoff hid off shore. Who's in on this better yet who is the real criminal.
Post a Comment