Bernard Lawrence Madoff, is born in 29th April, 1938 in New York in U.S. He is an American businessman. He is also ex-chairman of the NASDAQstock exchange. He is managed the largest investor in NASDAQ Stock Exchange since his scam on March 12, 2009. His wife is Ruth Alpern Madoff. Madoff had two sons. They were Mark Madoff (45), Andrew Madoff (42).
Bernard Madoff is arrested for 11 offenses. He is making Securities scam, investment advisor scam, mail scam, wire scam, money laundering, false statements, perjury, making false filings with the SEC, stealing from an Employee Benefit Plan on March 12, 2009.
The complaint is filed since 2 days as Bernard Madoff scammed nearly 65 billion dollars. This the largest Ponzi Scam in the world. Only one person is made this fraud. He was completely responsible for this scam. He punished at least 150 years in prison. The Government estimation is 65 billion dollars. But he will compensate the amount 170 billion dollars. His face a maximum sentence of 150 years in prison, plus mandatory restitution of up to twice his ill-gotten gains. If the government's estimate of $65 billion is correct, he will have to pay $170 billion in compensation.
He has started his Ponzi scam since 1990. Madoff was house-arrested in December, 2008. The Judge ‘Denny Chin’ accepted his petition. He paid the amount of 10 million dollars for bail. Madoff is going to remand to Metropolitan Correctional Center. His property is declared that the worth of the amount is nearly 823–826 million dollars on 13th March, 2009.
“If we go to trial, we will show people in this struggling country and the world who look to us as the global moral leader, that we will hold all people accountable,” investor Maureen Ebel told Chin. “We can show the world that all crimes, all crimes, including crimes of greed, can be dissected, ruled upon and punished.”
“I don’t think for a minute that he has any remorse,” said Bennett Goldworth. “He’s a psychopath.”
Goldworth said that Madoff was invested 97% investment of his assets for 10 years.
“I’ve lost millions,” said Goldworth, vice-president of real estate brokerage-company, named ‘Corcoran Group’. “I’m happy that he went to prison.”
“I think it’s quite appropriate that he goes to jail,” said Biondo.
The case is booked on U.S. District Court for the Southern District of New York.