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Posts Tagged ‘Bernard Madoff’

Madoff Sentenced To 150 Years

madoff.jpgIf one thing could push Michael Jackson‘s death off the front pages of news Web sites around New York, it is the sentencing of Ponzi scheme perpetrator Bernard Madoff.

Earlier today, a federal judge sentenced Madoff to 150 years in prison — the maximum sentence. Madoff’s attorneys had requested a 12-year sentence, citing his age of 71 years. But the seemingly endless sentence handed down today speaks to the seriousness of Madoff’s crimes, and there was reportedly applause in the courtroom when Judge Denny Chin announced his decision. Now, he will definitely be in jail for the rest of his life.

Prior to the handing down of his sentence, Madoff was confronted by a number of his victims, who spoke of their experiences after losing their life savings in the investor’s scheme. Of course, the New York — and international — media was there to capture it. Here are some stories currently circulating the Web (and we’ll bring you tomorrow’s front pages as well, which are no doubt going to be Madoff-heavy).


Where did you go to get more news about the Madoff sentencing?(polls)

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Spielberg One Of Many Victims Of Madoff Swindle

spielb.jpgSteven Spielberg was one of many ultra-rich Hollywood and Wall Street types whom Bernard Madoff scammed in a $50 billion Ponzi scheme, Associated Press reports.

The alleged victims who sunk cash into veteran Wall Street money manager Bernard Madoff’s investment pool include real estate magnate Mortimer Zuckerman, the foundation of Nobel laureate Elie Wiesel, and a charity of movie director Spielberg, according to the Wall Street Journal.

Among the world’s biggest banking institutions, Britain’s HSBC Holdings PLC, Royal Bank of Scotland Group PLC and Man Group PLC, Spain’s Grupo Santander SA, France’s BNP Paribas and Japan’s Nomura Holdings all reported that they had fallen victim to Madoff’s alleged $50 billion Ponzi scheme