In a packed federal courtroom in lower Manhattan this morning, US District Judge Denny Chin sentenced convicted master-fraudster Bernard Madoff to 150 years in prison.
Worth noting is the Judge's reasons for the maximum sentence allowed: "Objectively speaking, the fraud was staggering and the breach of trust was massive."
He described Madoff's crimes as "extraordinarily evil," adding that Madoff's was "not merely a bloodless crime that takes place on paper but one that takes a staggering human toll."
The Judge concluded, "No other white collar case is comparable in terms of the scope, duration and enormity of the fraud and the degree of the betrayal."
Monday, June 29, 2009
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