Credit crunch: Madoff sent down for 150 years

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The financial crisis’ biggest villain has been sentenced, getting 150 years in the slammer.  Vanity Fair got its teeth into this story early on, refused to let go – and gave us some excellent articles:

The Madoff Chronicles

Wikipedia has a lot of links to other stories.  It says:

 

Sentencing and prison life
“I have left a legacy of shame, as some of my victims have pointed out, to my family and my grandchildren. This is something I will live in for the rest of my life. I’m sorry,” he said simply. “I know that doesn’t help you,” Madoff said, after his victims recommended to the judge that he rot in jail.[73] Chin had not received any mitigating letters from friends or family testifying to Madoff’s good deeds. “The absence of such support is telling,” he said. [74] “I have a sense Mr. Madoff has not done all that he could do or told all that he knows,” said Judge Chin, calling the fraud “unprecedented” and “staggering”, and that the sentence would deter others from committing similar frauds. “Here the message must be sent that Mr. Madoff’s crimes were extraordinarily evil.” [75]

Sentencing and prison life

“I have left a legacy of shame, as some of my victims have pointed out, to my family and my grandchildren. This is something I will live in for the rest of my life. I’m sorry,” he said simply. “I know that doesn’t help you,” Madoff said, after his victims recommended to the judge that he rot in jail. Chin had not received any mitigating letters from friends or family testifying to Madoff’s good deeds. “The absence of such support is telling,” he said.  “I have a sense Mr. Madoff has not done all that he could do or told all that he knows,” said Judge Chin, calling the fraud “unprecedented” and “staggering”, and that the sentence would deter others from committing similar frauds. “Here the message must be sent that Mr. Madoff’s crimes were extraordinarily evil.”

 

The Guardian also thinks he won’t get some cushy jail cell – swindling $64 billion cannot be let off lightly:

 ‘It’s likely he’ll serve his time in a maximum security jail’

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