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Bernard Madoff Sentenced To 150 Years
Finally, Ponzi schemer Bernard Madoff was sentenced to 150 year this morning, reports Gothamist: "In the courtroom, Madoff told [U.S. District Judge Denny] Chin, federal prosecutors and his victims that he thought he could "work his way out" of fraud and that he lives in a "tormented state." He added that he lied to his brother and sons and that his wife Ruth Madoff cries herself to sleep each night. However, Madoff did not turn around to address his victims." Still he did hear from some of his victims. Donald Ambrosino, a retired NYC corrections officer who lost his life savings thanks to Madoff: "How could someone do this to us? We worked honestly and so hard. This can't be real. We did nothing wrong." Another: "I have lost all of my life’s hard-earned savings. I have lost the home my husband and I had owned for 25 years because of this theft. I have lost the ability to care for myself in this old age."
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
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