Bernard Madoff, the swindler behind the biggest financial scam Wall Street has ever seen, has been sent to jail for 150 years by a judge in New York.
The 71-year-old had already confessed to massive fraud. But even now, officials don’t know exactly how much he stole. Investigators have the equivalent of more than 9 billion euros is missing – but they’ve recovered less than a tenth of that to return to the victims. Prosecutors said that figure alone is 32 times greater than that which would carry a life term. Even his defence lawyer had asked for a sentence that would see him behind bars until the age of 83.
Madoff’s thieving encompassed securities fraud, money laundering and perjury over decades that prosecutors said hit individuals, and some of the world’s biggest corporations. The Spanish Bank Santander has put up 170-million euros in an investor fund – it was one of the biggest conduits of funds to Madoff’s firm. They said Madoff’s conduct was unique in its scope and duration, and called for him to go to jail for 150 years.
Financial swindler Bernard Madoff sentetced to 150 years in prison