DealZone

Live coverage of Bernie Madoff sentencing

June 29, 2009

Welcome to our live coverage of the Bernie Madoff sentencing. Reuters journalists are outside and inside the Manhattan court where the admitted thief will hear his punishment for running Wall Street’s biggest and most brazen investment scheme. Reuters.com’s intern, Franz Strasser, is sending us updates from the scene that you can follow in the live headline box below.

(Editor’s note: Readers’ comments will appear in a smaller font.)

Update: The live coverage has now ended, but you can still leave a comment below.

Comments
17 comments so far | RSS Comments RSS

Bernie should spend the rest of his life in prison. There is no doubt about that. But why haven’t we heard anything about the SEC? Where is the outrage? They gave him the seal of approval not once but twice, giving investors who were sitting on the fence the green light to invest in his scheme. There should be criminal charges or at least an in-depth analysis of all responsible, naming names and assigning blame. If none are charged, these people should at least be publicly humiliated for their utter incompetence and the criminal neglect of their duties.

Posted by Patrick | Report as abusive
 

I vote for life in prison with periodic episodes of slow torture. Madoff is one of many maggots on Wall Street who bilk investors and the middle class out of their life savings.

Posted by Lisa | Report as abusive
 

This man and his co-criminals aka sons/wife, ruined tens of thousands of financial lives, completely. It’s nothing but insulting, that his lawyer should ask for 12yrs. I suggest that instead, maybe it would be easier, that he be allowed to push each retired (now penniless) victim to the ground, and kick each one, it would be less insulting and painful than even asking for the minimum sentence for this truly evil creature.

Posted by Mike C | Report as abusive
 

His victims want to hear the judge say the word “life”. I don’t think they’d settle for less.

Posted by actor212 | Report as abusive
 

Judge Chin is like all the rest, such a fraud. Scripted speech about staggering long term fraud. The judicial system makes me laugh.

Posted by David Smith | Report as abusive
 

Wouldn’t it be nice if Bernie did his time in an actual prison like most people would be doing their time. I would love to see Bernie with a new boyfriend or 12.

Posted by LazerSloth | Report as abusive
 

If not served as chairman of Nasdaq, he wouldn’t be able to steal so much time to perpetuate this scam with so many innocent victims. He already possessed a tell-tale name i.e.”made off”

Posted by Yamayoko | Report as abusive
 

When you find a cockroach, rest assured there are a thousand more hiding somewhere.

Posted by Sanford | Report as abusive
 

justice has been served! Now its time to pay for his sins..

 

Yes, he’s guilty. But what about the idiots who blindly invested with him and never bothered to check into the legitimacy of their investements. It’s very easy to do. These so-called “investors” have more of mom and dad’s money than they have sense. They need to spend a little time in prison for being stupid. After all, the scam could never have happened if investors were wise. As far as them getting their money back, it’s buyer beware, and they weren’t. I can easily say that I will never ever lose money in a ponzi scheme. This is not rocket science folks.

Posted by Frank | Report as abusive
 

Has justice been served? No!

Where did all the money go?? Return the money! Then, justice may be served.

Posted by dookh8r | Report as abusive
 

Isn’t a Ponzi scheme just like Social Security.
Check out my take and stick around for more good content.
http://libertarianhumor.com/2009/06/29/n ot-so-fresh-fish/

 

Ruth Madoff can keep 2.5 million. This is ridiculous!
According to this precedent, a spouse of every bank robber could keep a part of the loot when the robber is busted.

Posted by Joe Brown | Report as abusive
 

125 years-good-and all the money too. For those that ask where did it ALL go, there was no ALL to begin with, the nature of the scam.
the accomplice, his wife? Why is she not getting time? And if no time then put into the streets with zero money. None belongs to her-return to those from which she too stole.
Finally, those who partook, they are semi-culpable for their own greed – but they have suffered from their transgressions and have received their respective sentences.

 

why does Madoff’s wife get to keep two point five million dollars of investors money? Does US law favor rich swindler families? I think they should string him up over Wall Street by his heels and let the victims beat him until they are happy!

Posted by William | Report as abusive
 

what a joke.. what happened to all the partners in crime? namely – his sons, wife, relatives (it was a close knit ‘company’ – for a reason). and SEC etc etc?

Posted by Adil | Report as abusive
 

I do not understand how so many victims could have invested the majority of their assets with this man. Such action is contrary to the first principal of investing that every child learns from their parents. I sympathize to some degree, but feel that many victim were ignoring obvious signs that things were just too good to be true. To me this means there was a certain complicity in their silence.

 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/