Bernie Madoff Statement Before Getting Slammed With 150 Yr Sentence

Judge Denny Chin has sentenced Bernard L. Madoff to 150 years in prison. Chin gave Madoff the maximum of 20 years on several of the counts, which will be served consecutively. For a brief moment, the courtroom erupted with applause.

Just prior to sentencing, the notorious Ponzi scammer made this brief statement;

"Your Honor, I cannot offer you can excuse for my behavior," Madoff says. "How do you excuse lying and deceiving thousands of investors. How do excuse lying and deceiving over 200 employees. How do you
excuse lying and deceiving a wife of 50 years, who still stands by you."

"There's no excuse for that, and I don't seek any forgivenenss," he says. "I live in an almost tormented state now thinking about all of the pain and suffering I've created. I've left a legacy of shame to my
family and my grandchildren. That's something I will live with for the rest of my life."

"People have accused me of being silent and not being sympathetic. That is not true . . . My wife cries herself to sleep at night thinking of all the pain and suffering I've caused. She has been advised by my attorneys not to speak, but today she will make a statement. I'd like you all to listen to it."

"But apologizing . . . is not enough. You should know I feel sorry for everything that I've done. [This] is a horrible thing to live with. But there is nothing that I can do that will make your lives better."

Judge Denny Chin then responded;

"I simply do not get the sentence that Mr. Madoff has done all that he could or told all that he knows," Chin said. As it became clear that Madoff's scheme was unraveling, Chin cited the jewelry Madoff mailed to family members and other disbursements made to those close to him.

Chin says he didn't agree with the position of Madoff's lead counsel, Ira Sorkin, that victims were seeking "mob justice." By any monetery measure, Chin called Madoff's fraud "unprecedented."

"The breach of trust was massive--individuals, charities, pension funds, institutional clients--were all repeatedly lied to when told their [assets] were in stock when they weren't," Chin said. "Investors
made important life decisions based on these fictitious account statements. Madoff also repeatedly lied to the SEC and other regulators by creating false documents to cover up his scheme."

While Madoff tried to pay back investors, Chin says the presentencing memo shows that Madoff withdrew millions of dollars for the personal expenses of family and friends, such as "the acquisition of two yachts and four country club memberships."

While Madoff also turned himself in to the FBI, Chin said it was apparent that Madoff knew he was going to be caught soon and sought to turn himself in beforehand.

Chin also noted that not a single letter had been submitted by friends for family members attesting to Madoff's support of charitable endeavors. Chin called the abscence of such letters and endorsements
"telling."

"This is not a bloodless financial crime that just takes place on paper, but one that takes an enormous human toll," said the judge. "Symbolism is important not only to send a message that individuals will be sentenced to the fullest extent under the law . . . but also for the victims. Mr. Madoff's betrayal struck at the rich and not-so-rich."

"The victims put their trust in Mr. Madoff and that trust was broken, leaving those victims to doubt our financial system and the government's ability to protect its citzens," Chin said.

After Chin rendered his sentence, Sorkin asked the judge to make a recommendation to the Bureau of Prisons to have Madoff serve his sentence in the northeastern U.S. Chin agreed.

Chin asked Madoff to rise once again and informed him of his right to appeal. Madoff was then led out of the coutroom by U.S. marshals.

Judge Chin then adjourned the proceedings.

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[enigmatically]

the entire financial system is a ponzi scheme

[mmeredith82]

Lol investors were warned years ago about Madoff being a ponzi. This is another example of what a burden the government is. You don't think the free markets would have weeded this guy out within the first month of his Ponzi? We'd do a lot more DD if we didn't think the gov't was doing it for us. The same can be said with the FDIC insurance.

[abonawas]

@reza4 yeah right....but bernie madoff stole from jews too....no one was spared....man has no soul......but he is a stand up guy who took all the blame without snitching on his accomplices who must have been many

[abonawas]

@WW3Revolution i like bernie madoff cos he was a speacial thief who did not discriminate in the least...he stole from all without exception....old ladies ...invalids.....charity organisations.....mom and pop retiremnt money savings.....he even stole the little todlers lollypop in the park......man has no soul...and moses said to god ....there is nothing i can do about the children of israel....they are evil doers....hence god took away thier souls and shut the gates of heaven for them....

[abonawas]

@WW3Revolution u see u have a snotty kid just out of college working for the sec and u send him over to bernie to check the books.....bernie just pulls out a 100 grand cash bundle infron of the kid and the kid takes it and walks out....signs a few forms saying all is well.....now the kid comes back every so often oncea year and takes more money.....25 yrs later u investigate and u cant prove shit the kid helped in the scam....time erased a crime for many that worked with bernie

[abonawas]

@WW3Revolution well he did pay many 10 percent a year for 25 years......its the new comers that got hit bad...but most deserve it and some were embarresed to tell they were victims....a lot of people with easy money got hit....but the suprise and the talent of a great scammer was his ability to keep 200 employeess inline as they must have worked out that this was a scam and everything was not on the up and up....he pampered them and gave them a cut for sure....u cant say i did not know what up

[midarkmind]

BEAT THAT ASS! I said rip that friggen ass hole through, and wrap that towel around the neck in the shower and pump that MOFO for every penny he is worth prision style. Fuck you for life Berine, and your whole generation too! No one will ever look decent upon your people. The shit stained Madoffs will always stank to the heavens. Sit there in your stinky cell waiting for the next life, because that is all the love you will know until you blacken in the pit! FUCKKKKKKK YOUUUUU FUCK OOOOOOOOOOOO!

[michaelwright999]

hang the yid. in public.

[reza4]

The Talmud "goyim" (meaning cattle or beast). The following are exact quotes from the various books of "The Talmud." the most sacred book of jews.

Sanhedrin 59a: "Murdering Goyim is like killing a wild animal."

Abodah Zara 26b: "Even the best of the Gentiles should be

killed.

Libbre David 37: "If a Jew be called upon to explain any part of

the rabbinic books, he ought to give only a false explanation. Who ever

will violate this order shall be put to death.

There is more where that came from .

[returnoftheramble3]

you do what they all do. This is kali yuga. The problem is that they have demons that they can get you with. You'll wish you're dead after they come. Satan sex -- death ray, wasn't bad but the fallen sure were. My fault for mocking theirs. So were the thoughts that repeated themselves over and over again.

[GianniBarbarona]

I really admire the Jews -- they are all extremely cunning when it comes to money!!! Superb work , Bernie!!! I wish I were as intelligent as you!!!