Tuesday, June 30, 2009

(MY020) The ‘Beast’ who cheated thousands of their savings

Disgraced financier Bernard Madoff stands during his sentencing hearing in New York in this court artist's sketch completed yesterday. - Reuters picNEW YORK, June 30 — Victims of Bernard Madoff’s billion-dollar Ponzi scheme branded him at his sentencing hearing as a “beast” who had ruined their lives, forcing one to scavenge for food in dumpsters.
Madoff “discarded me like road kill,” said Ms Miriam Siegman, of Stamford, Connecticut, today at the hearing in Manhattan. She now relies on food stamps, collecting recyclable bottles and digging through dumpsters.
Nine victims told their stories to US District Judge Denny Chin before he sentenced Madoff to a maximum 150 years in prison.
Madoff’s lawyer Ira Sorkin had recommended a sentence of not more than 20 years, while prosecutors urged 150. The federal probation service recommended 50 years.


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