Hey there friends…

It’s been a long time since I posted anything on this blog … Well now. here it is then…

Washington Post dated 30th June, was seen quoting this news.  Bernard Madoff, from US has been sentenced to the maximum 150 years in prison.

US district judge, Denny Chin, sentenced Bernard Madoff following a massive Ponzi scheme run by Madoff since at least the early 1990’s. This scheme is said to have demolished life savings of thousands of people. 

His total financial property which includes a $7 million Manhattan apartment where Ruth Madoff still lives. An $11 million estate in Palm Beach, a $4 million home in Montauk and a $2.2 million boat will be put on the market as well as a part of his term.

However, Madoff’s sentence is not the longest. New York businessman Sholam Weiss, 55, was sentenced in February 2000 to 845 years in prison for his role in a plot that skimmed $400 million from an insurance company, costing many of its 25,000 customers their life savings. The government lists his release date as Nov. 23, 2754.

And Norman Schmidt, 73, was sentenced in Denver last year to 330 years in prison for his role in a multimillion-dollar investment scam. He’s scheduled for release in September 2291.

Courtesy : Washington Post dated 30th June 2009.

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