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Ar-RaYYan
06-29-2009, 10:45 PM
Bernard Madoff has been given the maximum prison sentence of 150 years for masterminding a massive fraud that robbed investors of $65bn (£40bn).

The sentence, which means Madoff will spend the rest of his life in jail, was greeted with cheers and applause in the packed courtroom.

US District Judge Denny Chin said he wanted to send a message that Madoff's crimes were "extraordinarily evil".

Madoff's lawyer had sought a more lenient sentence of 12 years.

Judge Chin gave Madoff the maximum sentence on all 11 charges, which included securities fraud and money laundering.

http://news.bbc.co.uk/1/hi/business/8124838.stm
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The_Prince
06-30-2009, 02:33 AM
thats not gonna be fun.
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AntiKarateKid
06-30-2009, 02:56 AM
Rot in this life. Rot in the next. Along with the lawyer who tried to help him.
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Joe98
06-30-2009, 03:59 AM
format_quote Originally Posted by AntiKarateKid

Along with the lawyer who tried to help him.

The most important role of a lawyer is to try to find holes in the legal system.

It might mean that one criminal gets off but it also means the hole is plugged by the governemt and then all of society is better off.

-
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Beardo
06-30-2009, 04:29 AM
He so close to death anyway, and 150 years doesn't even make sense. For such a hideous crime, wouldn't a more strict punishment be necessary?
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nocturne
06-30-2009, 04:55 AM
He could not hang him and this is the next best alternative. How much did he cheat ppl off?

I heard he had 170 billion in assets, that the govt is seizing.
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aadil77
06-30-2009, 08:20 AM
format_quote Originally Posted by nocturne
He could not hang him and this is the next best alternative. How much did he cheat ppl off?

I heard he had 170 billion in assets, that the govt is seizing.
Nah man, I don't think anyone can have soo much in assets, cars, mansions, yahts and even planes don't add up to that much

He frauded people out of 13 bn I think, and the police are seizing his mansions and other stuff which add up to around 150 million
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czgibson
06-30-2009, 09:40 AM
Greetings,

The guy is 71 and he'd been getting away with his Ponzi scheme for 18 years. At least he'll be spending the rest of his life in jail.

Peace
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aamirsaab
06-30-2009, 11:59 AM
:sl:
what's the point in giving him 150 years? It fails as a deterrant and a punishment; he lives tax-free for ''150'' years after committing FRAUD?! Sure, his old ass is stuck in a prison cell, but so freakin what? and 150 years - what the hell for; he's costing you MORE money!
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Beardo
06-30-2009, 12:21 PM
^ true =\

But just to answer the above, it IS 171 billion $$. His wife got away with 2.5 billion or something. He spent cash like dirt. Man.... Just looking at his face makes me so mad.

Hanging to the best alternative-- hmm maybe he should serve some time in some horrible prison and then get hung.
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czgibson
06-30-2009, 12:39 PM
Greetings,
format_quote Originally Posted by aamirsaab
:sl:
what's the point in giving him 150 years? It fails as a deterrant and a punishment; he lives tax-free for ''150'' years after committing FRAUD?! Sure, his old ass is stuck in a prison cell, but so freakin what? and 150 years - what the hell for; he's costing you MORE money!
What's the alternative?

Peace
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aadil77
06-30-2009, 01:10 PM
format_quote Originally Posted by eHafiz
^ true =\

But just to answer the above, it IS 171 billion $$. His wife got away with 2.5 billion or something. He spent cash like dirt. Man.... Just looking at his face makes me so mad.
Are you sure that figure was his assets? or how much he frauded people out of?
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aamirsaab
06-30-2009, 01:52 PM
format_quote Originally Posted by czgibson
Greetings,


What's the alternative?

Peace
Pay back all the money he stole to those he stole it from, for starters. And don't give him some obscure sentence of 150 years - it's pointless.

Tho, as far as punishments go, I can't think of an alternative, mainly considering his age of 71 (any form of labour/servitude is out of the question; same goes for physical punishment). Yet at the same time, I don't see how locking him up will act as a form of punishment or deterrant, again given his age: this guy wasn't found guilty until he was well above retirement age.
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Ar-RaYYan
06-30-2009, 02:25 PM
Im surprised his sons are not found guilty. I mean their father was doing this for like 18 years and yet they were 'not aware of it'.yeah right!
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Fardosa
06-30-2009, 02:50 PM
format_quote Originally Posted by Ar-RaYYan
Im surprised his sons are not found guilty. I mean their father was doing this for like 18 years and yet they were 'not aware of it'.yeah right!
From what I've read it said that he confessed to his sons first on December 10, 2008, that the asset management arm of his firm was a giant Ponzi scheme—as he put it, "one big lie.", Apparantly they then passed this information to authorities.The following day, Federal Bureau of Investigation agents arrested Madoff and charged him with one count of securities fraud.

But who knows Allahu A'lem.

Assalaam alaikum
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Whatsthepoint
06-30-2009, 03:28 PM
format_quote Originally Posted by aamirsaab
:sl:
what's the point in giving him 150 years? It fails as a deterrant and a punishment; he lives tax-free for ''150'' years after committing FRAUD?! Sure, his old ass is stuck in a prison cell, but so freakin what? and 150 years - what the hell for; he's costing you MORE money!
Life in jail is a detterant and it is cheaper than the death penalty.
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AntiKarateKid
06-30-2009, 03:33 PM
format_quote Originally Posted by Whatsthepoint
Life in jail is a detterant and it is cheaper than the death penalty.
Cheaper than the death penalty? What the hell is wrong with the world when it costs more to kill a criminal than it does to keep him alive for his whole life?

A simple bullet to the head or the traditional stoning is better than whatever royal treatment they're getting even in death. Let the family of the guy who committed suicide because of Madoff pull the trigger.
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Whatsthepoint
06-30-2009, 03:39 PM
format_quote Originally Posted by AntiKarateKid
Cheaper than the death penalty? What the hell is wrong with the world when it costs more to kill a criminal than it does to keep him alive for his whole life?

A simple bullet to the head or the traditional stoning is better than whatever royal treatment they're getting even in death. Let the family of the guy who committed suicide because of Madoff pull the trigger.
It gets costly due to appeals etc and also it takes years do get from the courtroom to the chair.
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AntiKarateKid
06-30-2009, 03:41 PM
format_quote Originally Posted by Whatsthepoint
It gets costly due to appeals etc and also it takes years do get from the courtroom to the chair.
A simple bullet to the head would speed the line up. And is cheap cheap cheap.
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Whatsthepoint
06-30-2009, 03:47 PM
format_quote Originally Posted by AntiKarateKid
A simple bullet to the head would speed the line up. And is cheap cheap cheap.
Yeah I agree and in Madoff's case it is clear he did it purposefully and with a clear mind.
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Layla454
06-30-2009, 03:48 PM
Its the least he deserved
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