Bernard Madoff - Famous Thief March 13, 2009

From CBS News:
"Bernard Madoff's lawyers have appealed his jailing, saying he should be released until sentencing because he never fled, even knowing he could expect to die in prison.

Madoff's lawyers filed papers with a federal appeals court Friday.

The disgraced money manager pleaded guilty Thursday to 11 felony counts, including securities fraud, in what may be the biggest fraud in Wall Street history. His $10 million bail was immediately revoked.

His lawyers also say they need to consult with Madoff to prepare for his June 16 sentencing, and his jailing makes that difficult.

At Madoff's plea hearing yesterday, defense attorney Ira Sorkin argued Madoff deserved to stay out because other high-profile financial criminals accused in multi-billion-dollar frauds were not jailed until sentencing, but Chin disagreed, telling prosecutors he did not even need to hear their bail arguments.

"In light of Mr. Madoff's age, he has an incentive to flee, he has the means to flee, and thus, he presents a risk of flight," Chin said.

A federal appeals court will hear the bail appeal Thursday.

Madoff woke up today in a 7 1/2 by 8 foot jail cell as Prisoner 61727-054 at the Metropolitan Correctional Center in lower Manhattan, reports CBS News chief investigative correspondent Armen Keteyian. And whatever the outcome of his bail status appeal, he'll soon be on his way to much harder time in prison, following his June 16 sentencing."

I am almost convulsed at the content of this story. Why shouldn't the nasty little thief go to jail, please? Send with him everyone else involved in his Ponzi scheme. There are people who are literally going back to work in their 90's because this guy stole their money. There are people who are homeless because of him. Talk about stealing from the poor to give to the obscenely wealthy! Put him away and grind up the key!

His lawyers told the judge his wife, who has a butt-load of the money, has offered to pay for private security guards to watch him. She would, of course, be paying the security guards with stolen money, but so what? Eh? He's an old man. Let it slide.

Talk about a crock. Let him rot and die in jail. I don't mean the country clubs they send politicians to, either.
This just annoys the hell out of me.
You know I will be ticked off when the Federal Appeals Court sets him free.


AP - "Bernard Madoff and his wife had $823 million in assets at the end of last year, including $22 million in properties stretching from New York to the French Riviera, a $7 million yacht and a $2.2 million boat named "Bull," according to a document his lawyers filed Friday."