Monday, June 29, 2009

Bernie Madoff Isn't Going Anywhere For Awhile

Today, disgraced Wall Street financier Bernie Madoff was sentenced to 150 years in prison. He had plead guilty last March to 11 felonies including fraud, theft, money laundering, perjury, filing a false statement with the SEC. It is estimated that Madoff defrauded his investors to the tune of $65 billion. As Madoff himself said, "It's one big lie."

It would not surprise me if his lawyers were to appeal his sentence and successfully get it reduced. But even if they are successful their client will never see the light of day. He is safer inside prison than out of it.

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