Madoff in Jail: Plead Guilty to 11 Counts

  • Thread starter Thread starter Ivan Seeking
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Bernard Madoff pleaded guilty to 11 counts, including fraud and money laundering, admitting that his Ponzi scheme began in the early 1990s during a recession. He expressed remorse but faced skepticism from victims. Discussions highlighted that Madoff continued his scheme despite knowing it would eventually be discovered. Elie Wiesel's controversial call for a federal bailout for charities affected by Madoff's actions sparked debate, with many arguing against government intervention. The conversation also scrutinized Madoff's wife, Ruth, who withdrew significant funds shortly before his arrest, raising questions about her complicity. Madoff's potential sentencing of up to 150 years in prison was discussed, with speculation about his prison conditions and the possibility of clawbacks from investors who profited from his scheme. The thread emphasized the complexity of the case, including the involvement of other fund managers and the broader implications for victims and the financial industry.
  • #31
If I were Madoff, I would have secreted money away and planned the greatest prison escape in history.
 
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  • #32
Why isn't Ruth Madoff being pursued? It's not like she was a babe in the woods. She's an accountant and financial advisor, and she and Madoff started a financial-services business back then they were first married. The story that she didn't know what was going on is pretty thin, especially since she was a prime beneficiary of the ill-gotten gains. The prosecution left her with "only" $2.5M to live on. Poor thing!
 

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