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It’s Off to Prison for Bernie Madoff After Pleading GUILTY!

Bernie Madoff/youtube

Bernie Madoff/youtube

Bernie Madoff, one of the saddest figures of our times, is finally headed to prison after living far too long in his New York penthouse. Now the question is whether his wife will get to keep anything and whether she knew what was going on. She may end up being sort of a Carmela Soprano figure as in HBO’s popular series the Sopranos, who knew what was going on and benefited, but didn’t have any involvement. Maybe.

By DIANA B. HENRIQUES and JACK HEALY
New York Times

NEW YORK —   The disgraced financier Bernard L. Madoff was immediately handcuffed and led off to jail on Thursday after a hearing in which he pleaded guilty to running a vast Ponzi scheme that bilked investors out of billions of dollars.

Rather than letting Mr. Madoff remain free on bail and return to his apartment on the Upper East Side of Manhattan, Judge Denny Chin of Federal District Court ordered Mr. Madoff remanded as he awaited sentencing.

“He has incentive to flee, he has the means to flee, and thus he presents the risk of flight,” Judge Chin said. “Bail is revoked.”

Some of the dozens of Mr. Madoff’s victims in the downtown Manhattan courtroom began to applaud the ruling but were cautioned by Judge Chin to remain silent. As Mr. Madoff’s hands were cuffed behind his back, some victims pointed and nodded with apparent satisfaction.

And as he was led out of the richly paneled courtroom into an antiseptic white-tiled hallway, at least two of his victims were in tears.

“They are tears of relief,” explained Norma Hill of Armonk, N.Y., who sat in the first row of the packed courtroom. “It was a very courageous stand that the judge took. It has restored my faith in the justice system.”

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