Prosecutors Seek 150-Year Sentence for Madoff

Source: NYTimes

<snip>

"Federal prosecutors asked Judge Denny Chin on Friday evening to sentence the convicted swindler Bernard L. Madoff to prison for 150 years or at least for the rest of his life.

Mr. Madoff, who admitted to running an enormous Ponzi scheme, is scheduled to be sentenced on Monday in Federal District Court in Manhattan.

The prosecutors noted that federal sentencing guidelines called for a 150-year sentence for the felony charges on which Mr. Madoff was convicted, and they asserted that “he engaged in wholesale fraud for more than a generation.”

Prosecutors have estimated that Mr. Madoff’s Ponzi scheme reached a total of $65 billion.

“The scope, duration and nature of Madoff’s crimes render him exceptionally deserving of the maximum term allowed by law,” the prosecutors wrote in their sentencing memorandum to Judge Chin."

Read more: http://dealbook.blogs.nytimes.com/2009/06/26/prosecutors-seek-150-year-sentence-for-madoff/

That's exactly what he deserves. :shrug:

proposed jail term as a payment against time he'll have to serve. Prosecutors just might go for such a deal coming from a numbers whiz of Bernie's stature.

With that kind of accounting, he could serve no jail time at all.

The real trick will be getting other defendants to pay him money to provide the same kind of expert service in their cases.

;)

Have Bernard pay back every last cent to his victims, and have him banned from having any job related to finance for life.

It's a lot better than sending him to jail for, if you ask me.

sounds about right.

This guy should be thrown in with the general public crimminals.

Game over.

from the rich. When they steal from the little people or the public fisc, they get a big freakin' bonus!

Cunningham's jail.

you KNOW he's got them.

or at least, that would seem to be what the Obama administration's "Justice" Department figures at this point.

or pass out more sentences like it to the parties who deserve it. The "let's make one guy hurt real bad and then hope that'll appease everyone" approach is not going to cut it.

that there was massive fraud going on.

A good bet would be that there are literally hundreds of people- in and out of government who have violated federal statutes of one sort or another in this case alone.

Especially on the "in this case alone" part. It boggles the mind.

at least

.

Last I heard the Feds were not moving against the two Madoff sons - who just happened to 'borrow' $30M from dad before the scam was unveiled. Some loss victims were attempting to sue for that money, but did not hear if a case is advancing.

If they are such good sons, perhaps they can help out Mamma Ruth, with her measely $2.5M.