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+-   Madoff Sentenced to 150 Years-> on Monday June 29 2009, @05:09PM selven

Submitted by selven on Monday June 29 2009, @05:09PM
business
selven writes "Bernard Madoff's victims gasped and cheered when he was sentenced to 150 years in prison, but they walked away knowing little more about how he carried out the biggest robbery in Wall Street history. In one of the most dramatic courtroom conclusions to a corporate fraud case, the 71-year-old swindler was unemotional as he was berated by distraught investors during the 90-minute proceeding.

Many former clients had hoped he would shed more light on his crime and explain why he victimized so many for so long. But he did not. Madoff called his crime "an error of judgment" and his "failure," reiterating previous statements that he alone was responsible for the $65 billion investment fraud. His victims said they did not hear much new from Madoff in his five-minute statement. They also said they did not believe anything he said. As he handed down the maximum penalty allowed, U.S. District Judge Denny Chin indicated that he did not think Madoff had been fully candid or cooperative with authorities still investigating the fraud and what happened to investors' billions.

"I simply do not get the sense that Mr. Madoff has done all that he could or told all that he knows," Chin said."
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