Despised financial fraud Bernie Madoff may have one last scam in him.
Despised financial fraud Bernie Madoff may have one last scam in him. And this one may be the biggest and most infuriating of all. He may sleaze his way out of rotting away his last days in prison. Loud bells and whistles went off that that could happen when Madoff suddenly dropped any pretense of a court fight and said he'd plead guilty to every fraud, perjury, and embezzlement charge that the Feds could slap on him.
For the official record Madoff will be hit with an 11-count indictment. The maximum penalty is 150 years in prison. But that's just on paper. Bells sounded louder that Madoff could evade his full prison due when U.S. District Judge Denny Chin who presumably will sentence Madoff said that he'd sharply limit the number of Madoff victims who get to shake their fist in the swindler's face and tell him what a rat he is during an upcoming court hearing. Bells sounded even louder when Chin said that he would take weeks maybe even months to sentence Madoff. Meanwhile Madoff will continue to piddle about in his $7 million dollar Manhattan penthouse.
But the Madoff bells really went off the decibel chart when prosecutors said that they'd tap Madoff for $170 billion in criminal forfeitures. That sounds impressive but it may not be anywhere near the amount of money that Madoff stole, squandered, or stashed away in vaults and mattresses, in dummy accounts, and with friends, associates, wives and mistresses. If Madoff does indeed dupe the government hangman, it won't be much of a surprise.
For the official record Madoff will be hit with an 11-count indictment. The maximum penalty is 150 years in prison. But that's just on paper. Bells sounded louder that Madoff could evade his full prison due when U.S. District Judge Denny Chin who presumably will sentence Madoff said that he'd sharply limit the number of Madoff victims who get to shake their fist in the swindler's face and tell him what a rat he is during an upcoming court hearing. Bells sounded even louder when Chin said that he would take weeks maybe even months to sentence Madoff. Meanwhile Madoff will continue to piddle about in his $7 million dollar Manhattan penthouse.
But the Madoff bells really went off the decibel chart when prosecutors said that they'd tap Madoff for $170 billion in criminal forfeitures. That sounds impressive but it may not be anywhere near the amount of money that Madoff stole, squandered, or stashed away in vaults and mattresses, in dummy accounts, and with friends, associates, wives and mistresses. If Madoff does indeed dupe the government hangman, it won't be much of a surprise.
posted by Kangaroo Brisbane Australia at 4:32 PM
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