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March 12, 2009 - Lisa Reed
IRON MOUNTAIN — So this week I am going to blog about the greedy businessman who ripped off billions of dollars from investors. On Thursday, Bernard Madoff pleaded guilty to 11 fraud charges and apologized for his actions that began in the early 1990s. His scheme affected big and small victims, pushed two investors to commit suicide and depleted charities. Doesn’t it just make you sick that a greedy person could do that and not think of anyone but themselves? Madoff could face a maximum sentence of 150 years in prison, but until Thursday when a judge revoked bail, he was under house arrest in his $7 million Manhattan penthouse. How disgusting is that? On Thursday, the 70-year-old was jailed. He will be sentenced June 16.
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