The man responsible for the largest Ponzi scheme in American history has lost his Manhattan penthouse apartment to federal marshals. Bernard Madoff’s $7 million property, from which his wife was evicted without even being able to take any of her possessions, will be sold and the proceeds will go toward the victims of Madoff’s billion-dollar scheme.
According to reports, Mrs. Madoff begged marshals to allow her to take her fur coat, but in the end, all she could take with her was a straw bag and the clothes on her back. She maintains that she is innocent until proven guilty and …read more

On Monday, Bernard Madoff begged for a light sentence. He told the federal judge that he didn’t deserve the max sentence. When it was all said and done, Madoff received that max sentence of 150 years in prison.
For Madoff, who is 71 years old, the 150 years in prison is a life sentence. When the judge was sentencing Madoff, he called Madoff’s crimes “extraordinarily evil”.
Madoff was charged in a multi-billion dollar ponzi scheme that destroyed the lives of many people. Some of his victims lost their life savings, others lost all of their retirement money and some of his victims …read more

In a move that might inspire empathy out of the American public if it was anyone other than the wife of the man who orchestrated the biggest Ponzi scheme in history, Ruth Madoff has decided to give up a claim of $80 million in assets. This leaves Madoff with $2.5 million, much less than she would have gotten if she pursued the claim.
This settlement came late yesterday after U.S. District Judge Denny Chin, who is also responsible for sentencing Bernard Madoff in court on Monday, approved of the decision. Ruth Madoff will not be present for the sentencing but she …read more