Your Opportunity to Sound Smart for the Day: Bernie Madoff Sentenced to 150 Years in Prison
Monday, June 29th, 2009Okay you guys, check it out. Later today, when someone’s all like, “Hey did you hear that Michael Jackson’s mother got temporary custody of the kids?”, you get to be all like, “Oh, yes, I think I heard that. I don’t know. I don’t follow celebrity gossip that closely; it all seems so silly to me. But I was relieved to hear about the Madoff sentencing today.”
Bernie Madoff, the evil New York financier who swindled investors out of billions of dollars using a Ponzi scheme (that’s your fancy word for the day — learn more about it here), was today sentenced to 150 years in prison for his crimes.
“I’m responsible for a great deal of suffering and pain, I understand that,” the 71-year-old financier told the court. “I live in a tormented state now, knowing all of the pain and suffering that I’ve created. I’ve left a legacy of shame, as some of my victims have pointed out, to my family and my grandchildren.”
Madoff’s crimes destroyed the life savings of many of his investors, leaving them working multiple jobs and barely scraping by in their retirement years.
“How could someone do this to us?” said Dominic Ambrosino, a retired New York City corrections officer who said he lost his life savings with Mr. Madoff and was the first victim to speak. “We worked honestly and so hard.”






