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"Will Madoff ever leave prison alive?"

By Douglas A. Berman

The title of this post is the headline of this new piece at CNNMoney.  Here is how the piece starts: Convicted Ponzi scammer Bernard Madoff will probably spend the rest of his life in jail.  On June 29, Judge Denny Chin of the U.S. District Court in New York sentences the 71-year-old. The maximum sentence is 150 years in a federal prison, based on Madoff's guilty plea to 11 criminal counts, including fraud, money laundering, perjury, false filing with the Securities and Exchange Commission, and other crimes. "[The Ponzi scheme's] effect on society was widespread," said Ken Rubinstein, asset protection lawyer with the New York firm Rubinstein & Rubinstein. "Its effect on individual victims was economically and psychologically catastrophic...continue to full post

Full post as published by Sentencing Law and Policy on June 22, 2009 (boomark / email).