Bernie Madoff's Sentencing

[Joesitz (RIP)]

One big question: Will he be sent to one of those lenient jails like Leona Helmsley? If he still has access to the money, he can redecorate his cell which will only be locked up at night, and he can watch TV which he bought. During the day he can roam aound the prison grounds and maybe do business with other convicts. He might get weekends off if he behaves.

What about his wife and the couple of millions she got out of this? Will she have to give it up? And one of the sons is in trouble.

What about the poor dupes, will they get at least some money back, or is it tucked away in Switzerland?

 

[Ptichka]

Madoff is likely to be placed in a medium security prison - he has a term over 25 years, which normally means high security except that it's different for non-violent offenders. So not quite the low security like Martha but not quite what he deserves either.

As for money - that's the billion(s) dollar question. Technically his wife got to keep 2.5 million and has had to give back 80. I don't think anyone buys the "innocent wife" act. I understand that with a non-violent crime the investigators didn't have that much to work with but still perhaps if they weren't that quick to accept his plea, they might have had more to work with to recover the money. It almost seems that the feds were so embarrassed about letting this go on this long that they wanted the case to just go away ASAP.

 

[heyang]

I read that the most of their assets are to be sold off and repaid to investors. The tricky part is for people to prove how much money they had given him.

Also, the people who worked for him and who introduced him to clients are being investigated to determine if they were part of the scam or unwitting pawns.