The former NASDAQ chairman, Bernard Madoff will plead guilty to ll counts of securities fraud, perjury and other crimes. He will not be accepting a plea agreement.
Madoff has been under house arrest in his $7 million Manhattan penthouse since he was arrested in early December after authorities said he confessed to his family that he had carried out a $50 billion fraud. [How sweet is that? I live in a hovel without windows but even so do you think if I stole a pack of Marlboros I would be allowed to hang out at my place under “house arrest?” I don’t think so.]
In court documents filed Tuesday, prosecutors raised the size of the fraud to $64.8 billion, an amount recounted in apparently false statements from November 2008.
Madoff was behind of the largest money laundering scandals ever seen. Yet why he is not sitting in a jail cell is beyond me. In fact, “The judge will decide Thursday whether to accept the plea and, if so, whether Madoff should remain free pending sentencing in several months.” Are you kidding me? There should be no doubt that he should hard time and I don’t mean some minimum security prison with swimming pools and tennis courts, I mean hard time with a 300 lb, 6’5″ cellmate named Tiny whose favorite pasttimes are smoking, working out in the yard and sodomizing the new inmates.
After I wrote the above statement, I found out that he had indeed been carted off to prison. I have to say, it is good seeing justice being served in this case. Now we just have to find the money so that the ones he stole it from can receive restitution. Maybe this will give a clear message to the richer people of this country who think they can do whatever they want because they are above the law. And trust me, I don’t begrudge the rich their wealth, just their arrogance.