Bernard Lawrence "Bernie" Madoff (/'me?d?f/;[3] born April 29, 1938) is an American convicted of fraud and a former stockbroker, investment advisor, and financier. He is the former non-executive chairman of the NASDAQ stock market,[4] and the admitted operator of a Ponzi scheme that is considered to be the largest financial fraud in U.S. history.
Bernard Lawrence "Bernie" Madoff (/?me?d?f/;[3] born April 29, 1938) is an American convicted of fraud and a former stockbroker, investment advisor, and financier. He is the former non-executive chairman of the NASDAQ stock market,[4] and the admitted operator of a Ponzi scheme that is considered to be the largest financial fraud in U.S. history
Bernard Lawrence "Bernie" Madoff (/?me?d?f/;[3] born April 29, 1938) is an American convicted of fraud and a former stockbroker, investment advisor, and financier.
It's stealing on a grand level, which is highly illegal. That is a criminal issue though, and criminal system cannot impose civil restitution penalties like what you suggested.
He was sued as well civilly in regards to restitution by the people that he defrauded, but that is really symbolic since he will never even remotely have the money necessary to pay everything back
He'll be in jail for the rest of his life, the courts have seized and liquefied all of his assets, his family wants nothing to do with him anymore...he really has nothing of value for the rest of his life.
Mr. Madoff was convicted both in criminal court and civil court.
Primary, criminal court found him guilty of a crime. For this, his punishment was imprisonment.
Then, civil court found him guilty of fraud. For this, his punishment was restitution - which he is never going to make in full.
No, folks who lost money because of his scheme is never going to feel content or be made whole - ever again. That money is long gone. The best our system can do is throw him in jail and make him suffer.
If he just lost 500k of mine, and now I'm going to have to work till I kick off??? You bet he should go to prison.
And if they decide to execute him in 'olde sparky', sign me up for the pool (to pull the switch).
He was a crook and a scammer. In Iran, he would be thrown off a cliff.
Why do people like this go to prison? The main damages suffered by these individuals is solely monetary. wouldn't restitution be a better fit? By doing this I just don't see how these individuals feel content. It puts them in a position where there is no ossible way they will ever see a dime again
