Madoff Gets 150 Years In Prison

June 29. 2009

In what marks a fitting end to the terrible Madoff ponzi scheme criminal case, the fraudster received 150 years in prison for his financial crimes that have destroyed many people's life savings.

His wife is being required to cede all their property, including their new York City home. However, she is being left with $2.5 million dollars, which I think is wrong. People lost their homes, bank accounts, trust funds and businesses because of them. She should be required to start over from scratch, enduring the same financial damage they inflicted on others.

Side Bar: why do some journalists refer to thieves like Bernard Madoff and R. Allen Stanford as billionaires, when it's other people's money and assets they stole that falsely granted them that title.

Bernard Madoff sentenced to 150 years in prison

Mon Jun 29, 2009 2:35pm - NEW YORK (Reuters) - Disgraced financier Bernard Madoff was sentenced to 150 years in prison on Monday for perpetrating Wall Street's biggest and most brazen investment fraud, the maximum punishment for what the judge called an extraordinarily evil crime.

Cheers and applause came from the courtroom -- filled with his fleeced investors -- as the judge handed down the penalty.

Madoff, 71, stood passively with his hands clasped at his waist, showing no reaction when he heard the sentence that will send him to prison for the rest of his life.

http://www.reuters.com