Friday, March 20, 2009


Well....poor Bernie Madoff has to stay in prison. Waaaa.....ain't that just too fucking bad!
The judges figured that there was too much of a chance the bastard would skate.

From Associated Press via Yahoo News:

Appeals court rules Bernard Madoff must stay in prison

NEW YORK – Disgraced financier Bernard Madoff will remain in prison until he is sentenced in one of the largest financial frauds in history.

The 2nd U.S. Circuit Court of Appeals on Friday backed a lower court ruling a day after hearing arguments from a lawyer for the 70-year-old former Nasdaq chairman who sought Madoff's release from jail. The government argued against freeing him.

The appeals court said U.S. District Judge Denny Chin was correct when he sent Madoff to prison last week immediately after Madoff confessed that he had defrauded thousands of investors of billions of dollars for at least two decades. Investors who had trusted him were outraged that until then, Madoff had been confined to his penthouse apartment since his December arrest.

Chin had cited Madoff's age and said the possibility of life in prison heightened his incentive to flee. Madoff faces up to 150 years in prison at sentencing, scheduled for June 16.

"The defendant's age and his exposure to imprisonment are undisputed, and the court did not err in inferring an incentive to flee from these facts," the three-judge panel wrote.

"Moreover, the district court's finding that the defendant has the means — and therefore the ability — to flee are not clear error. The defendant has argued that all of his assets are accounted for and are inaccessible to him; however, the district court was not required to treat this defendant's financial representations as reliable," the judges said in the four-page ruling.

Bye-bye Bernie, hope ya have a 'good time' in prison. You should be happy nobody else got to you before the Feds did....'cause ya probably wouldn't have made it to prison if they had.

(em mine)


One Fly said...

This guy is old school and admits he knew he was doing wrong. I guess it shows what money will do to you.

Give me a bunch and I can be a case study that some don't go to the dark side.

Grandpa Eddie said...

And he knew it was wrong a long time ago, One Fly.
So, if he knew it was wrong, why didn't he stop?

HermitJim said...

This guy seems to have a lot of money and a lot of gaul...but is very short on character and morals!

Sounds like he should be in politics!

Grandpa Eddie said...

I don't think we need any more crooks in Congress, we've got enough there already.