Good. I hope that he lives a long life and dies in a flea infested jail. He's ruined individuals and foundations helping many people and did not deserve the luxury of living in his Manhattan high rise. Unfortunately I suspect he's going to get a country club prison and his family will be treated better than the victims who were left with nothing.
Madoff pleaded guilty Thursday to 11 counts in an epic fraud that robbed investors worldwide of billions of dollars, avoiding eye contact with swindled investors before he was led out of court with his hands cuffed behind his back.
Madoff was taken to the Metropolitan Correctional Center, near the Federal courthouse. It is run by the Federal Bureau of Prisons. He is scheduled to be formally sentenced on June 16.
U.S. District Judge Denny Chin denied bail for Madoff, 70, and ordered him to jail, noting that he had the means to flee and an incentive to do so because of his age.
Applause broke out in the courtroom after the judge's announcement. Madoff's lawyer says he plans to appeal the decision by the judge to revoke the bail.
Madoff spoke steadily in court as he addressed the judge before his guilty plea was accepted.
"I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed," he said.
"As the years went by, I realized my risk, and this day would inevitably come.
I cannot adequately express how sorry I am for my crimes." Madoff did not look at any of the three investors who spoke at the hearing, even when one of them turned in his direction and tried to address him.
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