Bernard Madoff sentenced to 150 years
Bernard Madoff the biggest con artist in the history who swindled billions of dollars from investors from his Ponzi Scheme got sentenced to 150 years in Prison.
I was able to catch the TV the episode “Ripped Off: Madoff and the Scamming of America” last month. And from financial analysts view it was impossible to keep a steady interest rate returns regardless of the state of the economy. As early as 10 years ago they were raising the questions about Madoff company and claiming it is a scam but they never gave it much attention. It wasn’t only when Madoff himself confessed it is a Ponzi scheme that people saw the truth. He likely has connections deep in the SEC who benefited from his scheme.
Madoff knew he couldn’t stop the scheme for the money involved was too big, he might have planned to run the Ponzi scheme till the day he dies, but the scheme got exposed early. His currently 71 years old, add the jail term, he’ll be 221 yrs old. Do you feel the term vindicates all the lives he has ruined with his scam. He might not even last a decade more.
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
Leave a comment