FROM Diana Henriques
$7 Billion Settlement for Madoff's Victims Bernie Madoff's ponzi scheme defrauded investors of some $20 billion, and a trustee for the victims wants to recover $32 billion, including punitive damages. Today, Preet Bharara, the US Attorney in New York, announced a $7 billion settlement with the widow of Madoff investor Jeffrey Picower. Diana Henriques is senior financial writer for the New York Times .
Bernie Madoff Receives the Maximum Sentence of 150 Years There was a burst of applause in a Manhattan courtroom today when federal Judge Denny Chin gave financial swindler Bernard Madoff the maximum term of 150 years in prison. For a 71-year-old man, even the minimum would have been a life sentence. Judge Chin said he was sending some messages. One of Madoff's victims, Burt Ross, told reporters he lost $5 million and cited Dante's Inferno, which assigns violators of trust to the lowest depths of hell. Diana Henriques is senior financial writer for the New York Times .
Bernard Madoff: Behind Bars After pleading guilty to 11 felony counts in federal court today, Bernard Madoff did not go home to his Upper East Side apartment, but to jail, until he is sentenced on June 16. In the courtroom, he explained how his scheme worked and what he did with the money. Madoff cheated 4800 people out of billions of dollars. Is it possible he did it alone? How could the SEC have investigated and found nothing wrong? Is it enough to blame him? What's being done to make sure this doesn't happen again?
Bernard Madoff: Behind Bars Bernard Madoff told a federal court he was "ashamed" and "sorry," but that his massive Ponzi scheme was designed to "satisfy" his "clients." The judge accepted Madoff's guilty plea to 11 felony charges , revoked his bail and sent him to jail to await sentencing on June 16. Madoff cheated 4800 people out of billions of dollars. Is it possible he did it alone? How could the SEC have investigated and found nothing wrong? Is it enough to blame Madoff? What's being done to make sure this doesn't happen again?
Madoff Gets to Stay Home...for Now Bernard Madoff is accused of running a $50 billion investment-fraud scheme and he's violated conditions of his release on $10 million bail. But a US magistrate judge today refused the government's request to imprison Madoff until his trial. Diana Henriques is the senior financial writer for the New York Times .
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