Manhattan, NY – The Securities and Exchange Commission and Bernard Madoff have reached an agreement that could eventually force the disgraced investor to pay a civil fine and return money raised from investors.
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The agreement states that the allegations of fraud cannot be contested by Madoff and that possible penalties will be decided “at a later time.”
The SEC says that it has submitted the agreement to a Manhattan federal judge, who has to sign off on it.
does that mean NO JAIL TIME????
When will he ever EARN 50 BILLION DOLLARS to be able to pay back to the investors. Boy is he only getting a SLAP ON THE WRIST!!
Am I understanding this correctly? He will in essence plead guilty now, and a sentence will be determined sometime in the future?! Like when, when monkies wear shoes maybe.
The average american gets shafted once again.
what!!!!!!!!!!!!!!!!!!!!!!!!!!!!! someone explain what does this mean
Bernie pulled off another one! Amazing that guy has a first rate Yiddishe kup, Bravo way to go. Know if he can only help pollard, that would be something.
SEC settlements have nothing to do with criminal charges (that he will certainly have to face).This means very little.
He was never going to get jail time. His lawyers would have pled that he was senile or something.
This is simply a deal with the SEC, I believe, on the civil component. The criminal prosecution by the US Attorneys office is still going forward.
If the justice system won’t put him away, I’m affraid that street justice will….
Maybe he should hide in Cairo like that Nazi….
They have to get his cooperation and keep him out of prison where the mob would wack him for robbing the laundry.
You people don’t understand. The SEC are trying to cover themselves for all the years that they were supposed to be watching for guys like Madoff. They were simply sleeping at the switch while Madoff made off another big one.
there will be a criminal trial where he will receive life in jail
Doesn’t anyone posting on this article understand that this settlement is a routine procedural tactic in the civil case to expedite his providing information on locating any residula assets?
u ddont get it he didnt roub anyone, they all ran after him to give him money ,i undrstans when u looose money u wana blame it on some one but i guues he didnt do anything wrong , will u say no when peple run to give u money
Well he is getting away with it he is very smart whatever you call it he outsmarted the justice sysytem you have to give him credit for fooling people for 30 years
People… the man is not worth the arguing and name calling going on here between Jews. He is a crook period and although a clever man he will at some point be judged by higher authority. It is just a shame that this crook is Jewish and gives the antisemites from the non Jewish world and within our own to play on his religion. I for one am ashamed that he is one of the tribe.