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Old 03-12-2009, 02:13 PM
 
Location: Michigan
29,391 posts, read 55,584,379 times
Reputation: 22044

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Applause broke out in a Manhattan courtroom today when a judge denied admitted Ponzi scheme operator Bernard Madoff's request to return to his luxury penthouse, and instead ordered him handcuffed and taken straight to jail. Madoff pled guilty to 11 felony counts Thursday including securities fraud, mail fraud, wire fraud, money laundering, and perjury. He faces a 150 year sentence.

ABC News: Bernie Madoff Pleads Guilty to Ponzi Scheme, Goes Straight to Jail, Says He's 'Deeply Sorry'
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Old 03-12-2009, 05:47 PM
 
Location: the beach
30 posts, read 47,210 times
Reputation: 31
Financial Advisor Scam

The whole investment industry is a mess....
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Old 03-12-2009, 09:08 PM
 
1,233 posts, read 1,218,160 times
Reputation: 452
Oh,... do they do that to they who are not the little people?

How tempting it must have been for the lawyers, prosecutors, politicians, and judges to not accept bribes and let the fool out. Damn the recession and all!... Could'a been a contender!
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Old 03-12-2009, 09:15 PM
 
Location: Virginia
931 posts, read 3,802,758 times
Reputation: 447
Wait, They don't really care about me or my retirement?
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Old 03-13-2009, 02:14 PM
 
Location: state of enlightenment
2,403 posts, read 5,240,234 times
Reputation: 2500
Quote:
Originally Posted by thecapitalistpig View Post
Financial Advisor Scam

The whole investment industry is a mess....
The whole investment industry is a scam.
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Old 03-13-2009, 04:32 PM
 
939 posts, read 3,385,469 times
Reputation: 620
Quote:
Originally Posted by John1960 View Post
Applause broke out in a Manhattan courtroom today when a judge denied admitted Ponzi scheme operator Bernard Madoff's request to return to his luxury penthouse, and instead ordered him handcuffed and taken straight to jail. Madoff pled guilty to 11 felony counts Thursday including securities fraud, mail fraud, wire fraud, money laundering, and perjury. He faces a 150 year sentence.

ABC News: Bernie Madoff Pleads Guilty to Ponzi Scheme, Goes Straight to Jail, Says He's 'Deeply Sorry'
If he was truly sorry and remorseful he'd give his $826 million in assets to those he stole from.

Madoff Family Had $826 Million Net Worth, Filing Says (Update1) - Bloomberg.com
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