No matter how many years he gets it wont help all those people he robbed and ruined their lives.
Bernard Madoff sentenced to 150 years
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 traveling surf |
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Posts: 220 (06/29/2009 12:25 PM) |
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Kerlin48 |
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Posts: 406 (06/29/2009 12:31 PM) |
LisaChasez wrote: The people investing with him didn't know their money was going into a ponzi scheme. He lied to them about what they were investing in. |
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IdDoJC100Ways |
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Posts: 26934 (06/29/2009 12:45 PM) |
LisaChasez wrote:With a ponzi scheme, all the documentation and paperwork is there for. It all looks like legitimate investments. It's a situation where Madoff made it sound like he was a great investor in the stock market with a knack for picking the right things at the right times. Although all the paperwork was of course fake, it appeared real...right down to fake filings with the SEC and everything else. He stole from a whole gamut of income ranges. Normally I'd agree and say if it's too good to be true it likely is, but he had all the backing and proof for years and years. It was basically a situation where people of all income ranges look for a financial advisor to invest their money. Whether it's millions in stocks/bonds or whatever or maybe just a $40k rollover from a 401k or IRA. It all looked like he was just another financial firm like Merrill Lynch or Edward Jones. |
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TYCP Sha |
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Posts: 97211 (06/29/2009 2:47 PM) |
Good. Let him rot in prison.
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orangepeel19 |
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Posts: 12133 (06/29/2009 3:56 PM) Friendliest JJBer '09
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I just wish Madoff was younger so that he'd be in there for a longer number of years out of the 150. But YAY!
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jrngirl |
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Posts: 537 (06/29/2009 4:31 PM) |
Kerlin48 wrote: Yeah but they never once questioned how he could be getting them 10%-15% returns on their investments at a time when no one else, no other fund, was earning that kind of interest. They also never thought it suspicious they weren't able to access their statements online. The ones who were unknowingly investing with him I feel somewhat sorry for, the others who knew they were doing business with him? They didn't want to know how their hamburgers were made, so to speak, just that they were on their plates fat and juicy. |
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tiawani |
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Posts: 3656 (06/29/2009 9:56 PM) |
thats not even enough to pay back the families fortunes he played around with. he 70 he will die soon too
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Samantha James |
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Posts: 14406 (06/30/2009 2:04 AM) |
Gooooooooooooodamn.
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