Madoff Victims Invited To Say If He Should Get Out Of Prison

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FILE - In this Tuesday, March 10, 2009, file photo, former financier Bernie Madoff exits federal court in Manhattan, in New York. Madoff asked a federal judge Wednesday, Feb. 5, 2020, to grant him a “compassionate release” from his 150-year prison sentence, saying he has terminal kidney failure and less than 18 months to live. (AP Photo/David Karp, File)

NEW YORK (AP) — Victims of imprisoned financier Bernard Madoff’s mammoth Ponzi scheme can express views on whether he should be released early from prison, prosecutors said Friday.

The U.S. attorney’s office in Manhattan announced that those who suffered financial losses in the scheme have until the end of February to submit emails to Judge Denny Chin through the prosecutor’s office.

“If you are a victim of Madoff’s crimes and you wish to provide your views to Judge Chin with respect to Madoff’s motion for a sentence reduction, you may do so,” prosecutors said.

Chin, who now sits on the 2nd U.S. Circuit Court of Appeals, will decide whether to grant Madoff’s compassionate relief request to be released early from his 150-year prison sentence because of medical issues.

Madoff, 81, requested early release this week on grounds that he has terminal kidney disease and less than 18 months to live.

Madoff has been imprisoned since he pleaded guilty in early 2009 to defrauding thousands of clients of billions of dollars as he oversaw their accounts, sometimes for decades.

In his request for early release, his lawyer cited end-stage kidney disease and other “chronic, serious medical conditions,” including hypertension and cardiovascular disease.

Prosecutors have not yet responded in writing to the request by Madoff, who is housed at the federal prison in Butner, North Carolina, where he entered the palliative care unit of the facility in July.

The U.S. Bureau of Prisons has already denied Madoff’s request, concluding in December that his early release would “minimize the severity of his offense.”

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18 COMMENTS

  1. The markets where tanking nk one was making money. Yet these fools invested in a dream it greed. And they want us to continue to bail them out. Sorry I have no compassion for them

    • Yes very true and sickening how we are so hard on white collar crimes. It’s all about overzealous prosecutors getting a name for themselves by going after the filthy rich wall st dude.

      Think about it this way. This guy lost his whole family who disowned him and commited sucide. All his rich friends are no longer his club. He say for ten years. And he was the king of wall st. Is that last thing of dying in prison gona be the deterrent for others? Do you think anyone would still invest with this old man? So why imprison him

  2. Only invest what you can afford to lose. Bernie did nothing wrong. It’s the arrogant greedy gullible “investors” fault for being enablers. There is a total disconnect. The “haves” finally got caught with their pants down. Good for them. I hope they lose everything.

    • “Bernie did nothing wrong.”
      He defrauded people. He made up fictitious investment records and mislead people to think he was running a successful investment firm. There are numerous issurei dereisa in his theft of property.

    • I don’t know your comment sounds like jealousy. The “ haves” were definitely cheated and Bernie did plenty wrong. I still don’t think he should still be in prison but hey Bernie was the head of nasdaq etc… rich people are allowed to make money

    • The Great Divide: the only divide we can see here is the one between your comment and any sense of morality. Your comment is so morally repugnant, I have to pity anybody close to you.

    • Madoff clearly was a ganiv and thought (like all the rest of them) that he would get away with it. We have a Country with rules and regulations and if you live here you have to play by those rules or suffer the consequences.
      As far as the victims are concerned, I’m not shedding any tears over some of them’s alleged “losses”. If they had that much money to get into his exclusive club, there certainly was a lot more money from the well it came from. None of these people who allegedly lost everything had to immediately file for food stamps & welfare. Impossible. For if that was the case, how did they put bread and butter on their table a day before Madoff was exposed? Nobody was taking money out of their Madoff savings account on a daily basis. So bring me my violin.

        • I didn’t say that. What I’m saying is, stop with the crocodile tears. These people who “invested” with Madoff are doing just fine. I myself, have been investing in the stock market and mutual funds for 30 years. B”H overall I’ve done pretty well, especially recently under President Trump. But there were times where I took a big hit (in the immediate weeks after Sep. 11th was really rough) but that’s how the market works. I’m just sick of the alleged Madoff investors who were crying to the world that their life is over. It’s like these kvetchers, crying that they “could” of made $80 million dollars profit on a building they sold but instead “only” made $79 million. Gee, let’s start a Tzidaka campaign for them. Grow up.

  3. I don’t agree with those who essentially stated “good for them for losing their shirts, as they were greedy, and should have known better”. Many people not only make money on the stock market, but also lose money. Yes, Madoff should not have done what he was convicted of. However, he has paid dearly for his crimes. Both of his sons have died, his wife wants nothing to do with him, he has been publicly rebuked and shamed, and doesn’t have a pot to his name. Therefore, in the name of rachmonos and compassion, he should be given an early release, to live out his remaining days outside of prison.

  4. Dear Boroch, your words are very compelling. But, we really don’t know the full effect of what he did to people. How about those people who died before any money (if any money) was returned to them.
    When a person invests its for the purpose of seeing their hard earned money grow. He appeaed to be a “honest” , successful business investor.
    The tragedy of his family, is of his own making. He destroyed many families-as well as his own-but it was his behavior that caused all this destruction.
    Here’s a question for my own knowledge: Not a Bernie Madoff situation: If a person does something awful and for years and years doesn’t make it right, no matter how many times he was asked to do so..on his deathbed, if he asks Mechila, is one supposed to grant Mechila?

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