From: Breaking Legal News
Inside a packed Manhattan courtroom, Miriam Siegman and eight other
victims of Bernard Madoff directed their anger at the 71-year-old
disgraced financier. Madoff "discarded me like road kill," Siegman
said.Even before the one-time financier was sentenced to 150 years
in prison, Siegman, 65, hobbled out of the federal courthouse and
into the media scrum that has followed the secretive money manager
from his Upper East Side apartment seven months ago to this
sentencing Monday.There, anger toward Madoff appeared to have
shifted more to the regulators that many believe failed to stop the
massive fraud. Victims and nearby protesters took the government to
task for not preventing Madoff's Ponzi scheme. U.S. District Judge
Denny Chin said estimated losses for investors were more than $13
billion,...
Respond to this topic on your own blog
Click and press Ctrl+C to copy and paste this discussion on your blog or site
Related Articles
Bernard Madoff gets maximum 150 years in prison
Bernard Madoff has been sentenced to the maximum 150 years in
prison for his multibillion-dollar fraud scheme. U.S. District
Judge Denny Chin handed down the sentence in New York on Monday.
Defense attorneys had sought 12 years, while prosecutors wanted the
maximum. The federal probation department had recommended 50 years.
Chin called the fraud "staggering" and noted that it spanned more
than 20 years. He says "the breach of trust was massive."The
71-year-old former Nasdaq chairman pleaded guilty to securities
fraud and other charges in March and has been jailed since.
Convicted Ponzi-Schemer Madoff To Learn Fate Monday
Convicted Ponzi-scheme operator Bernard Madoff will learn Monday
morning whether he'll spend the rest of his life behind bars for
running a decades-long swindle that bilked thousands of investors
out of billions of dollars. Madoff, who admitted in March to
orchestrating one of the largest and longest-running white-collar
frauds in recent memory, is set to be sentenced at a hearing before
U.S. District Judge Denny Chin in Manhattan at 10 a.m. EDT Monday.
Prosecutors from the U.S. Attorney's office in Manhattan have asked
for the statutory maximum of 150 years or a sentence that will
effectively guarantee the 71-year-old Madoff spends the rest of his
life in prison. "He engaged in wholesale fraud for more than a
generation; his so-called 'investment advisory' business was a
fraud; his fraud...
Breaking: Madoff Gets 150 Years
Well, the question has been answered. Bernie Madoff has been
sentenced to years in prison. The matter now shifts to the Bureau
of Prisons, which will make the decision on where Madoff will be
sent. Possibilities might include the low- or medium-security
prisons near New York City like Fort Dix, N.J., Otisville, N.Y., or
Allenwood, Pa.
Madoff Hit With 150-Year Prison Sentence
Bernard Madoff, the once trusted money manager whose multibillion
dollar Ponzi scheme turned him into a symbol of Wall Street greed,
will find out how long he's going to prison for today. "The sheer
scale of the fraud calls for severe punishment," say prosecutors,
who are pushing for a 150-year sentence.
Fees for Madoff trustee's law firm top $50 million
A law firm employing the trustee winding down Bernard Madoff's
investment firm has won court approval to be paid $20.3 million of
additional fees, pushing its total to $50.9 million for 13-1/2
months of work.In an order made public on Thursday, U.S. Bankruptcy
Judge Burton Lifland in Manhattan authorized the additional payment
to Baker & Hostetler LLP, plus reimbursement of $390,200 of
expenses, covering the Oct. 1, 2009 to Jan. 31, 2010 period.Baker
& Hostetler has been awarded $59.8 million of fees overall, but
is deferring 15 percent, or $9 million, until the liquidation of
Bernard L. Madoff Investment Securities LLC is complete, court
records show.Irving Picard, the court-appointed trustee and a Baker
& Hostetler partner, has been trying to recover assets for
victims of Mad...
