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ProSense

(116,464 posts)
9. His
Mon Feb 17, 2014, 02:11 PM
Feb 2014

"Why is Bernie Madoff the only Wall Street criminal to face jail time?"

....brother was convicted too.

Peter Madoff, Former Chief Compliance Officer and Senior Managing Director at Bernard L. Madoff Investment Securities LLC, Pleads Guilty in New York to Securities Fraud and Tax Fraud Conspiracy
http://www.stopfraud.gov/iso/opa/stopfraud/NYS-1206291.html

Peter Madoff Is Sentenced to 10 Years for His Role in Fraud
http://dealbook.nytimes.com/2012/12/20/peter-madoff-is-sentenced-to-10-years-for-his-role-in-fraud

The Madoffs got what they deserved. So I wouldn't say "Bernie Madoff the only Wall Street criminal to face jail time." He's not, by any stretch.

Former BofA Exec Indicted For Fraud
http://www.democraticunderground.com/1002990749

Allen Stanford Convicted in Houston for Orchestrating $7 Billion Investment Fraud Scheme
http://www.stopfraud.gov/iso/opa/stopfraud/2012/12-crm-293.html

Former Chief Investment Officer of Stanford Financial Group Pleads Guilty to Obstruction of Justice
http://www.stopfraud.gov/iso/opa/stopfraud/2012/12-crm-785.html

Former Corporate Chairman of Consulting Firm and Board Director Rajat Gupta Found Guilty of Insider Trading in Manhattan Federal Court
http://www.stopfraud.gov/iso/opa/stopfraud/NYS-120615.html

Hedge Fund Founder Raj Rajaratnam Sentenced in Manhattan Federal Court to 11 Years in Prison for Insider Trading Crimes
http://www.stopfraud.gov/news/news-10132011.html

CEO and Head Trader of Bankrupt Sentinel Management Indicted in Chicago in Alleged $500 Million Fraud Scheme Prior to Firm’s 2007 Collapse
http://www.stopfraud.gov/iso/opa/stopfraud/ILN-120601.html

Yahoo! Executive and California Hedge Fund Portfolio Manager Plead Guilty in New York for Insider Trading
http://www.stopfraud.gov/iso/opa/stopfraud/NYS-120521.html

Three Former Financial Services Executives Convicted for Roles in Conspiracies Involving Investment Contracts for the Proceeds of Municipal Bonds
http://www.stopfraud.gov/iso/opa/stopfraud/2012/12-at-620.html

Former Chairman of Taylor, Bean & Whitaker Sentenced to 30 Years in Prison and Ordered to Forfeit $38.5 Million
http://www.stopfraud.gov/news/news-06302011-2.html
http://www.stopfraud.gov/iso/opa/stopfraud/2012/12-crm-342.html

Former Chief Financial Officer of Taylor, Bean & Whitaker Pleads Guilty to Fraud Scheme
http://www.stopfraud.gov/iso/opa/stopfraud/2012/12-crm-342.html

Seattle Investment Fund Founder Sentenced to 18 Years in Prison for Ponzi Scheme and Bankruptcy Fraud
http://www.stopfraud.gov/iso/opa/stopfraud/WAW-120210.html

Former Hedge Fund Managing Director Sentenced to 20 Years for Defrauding 900 Investors in $294 Million Scheme
http://www.stopfraud.gov/iso/opa/stopfraud/ILN-111117.html





Recommendations

0 members have recommended this reply (displayed in chronological order):

he basically turned himself in and pled guilty beachbum bob Feb 2014 #1
Further he was a small operation compared to jimlup Feb 2014 #2
stealing from the 1% irisblue Feb 2014 #3
He's not. not even close. look, all too often financial crooks get away with cali Feb 2014 #4
Madoff is the "Poster Child", those others convicted are pretty much in the same league 2banon Feb 2014 #6
hard to disagree with that as you made it totally subjective cali Feb 2014 #8
Exactly so... 2banon Feb 2014 #14
Point taken and it's an important point. 2banon Feb 2014 #5
I wonder if he's not in there for protection rather than punishment... grahamhgreen Feb 2014 #7
His ProSense Feb 2014 #9
Interesting no JPM or Citi people there, and the only BOA person is a "former" exec that BOA itself El_Johns Feb 2014 #18
I didn't see any Goldman people either. nt. druidity33 Feb 2014 #21
no. just indies. El_Johns Feb 2014 #22
Those were all small time compared to the trillions stolen by the big boys. hobbit709 Feb 2014 #27
Actually, I can add something that boosts both your point and cali's - bullwinkle428 Feb 2014 #10
Probably becuse he ran a clearcut con job Armstead Feb 2014 #11
Martha Stewart chuckstevens Feb 2014 #12
I was going to say that, but when I clicked on the actual thread, truth2power Feb 2014 #13
Because he robbed the 1%, and not the 99%. blkmusclmachine Feb 2014 #15
'Cause he stole from the also rich CanonRay Feb 2014 #16
Yup CFLDem Feb 2014 #17
He has good company with Sanford nadinbrzezinski Feb 2014 #19
He wasn't. There are others who also stole from the 1% serving time. LiberalAndProud Feb 2014 #20
Because he's one of the few to do anything illegal jmowreader Feb 2014 #23
What is not legal.. sendero Feb 2014 #25
A little bit of reading for you jmowreader Feb 2014 #28
I'm not interested.. sendero Feb 2014 #29
Why were Martha Stewart and Leona Helmlsey eagerly convicted and jailed? WinkyDink Feb 2014 #24
The tagline on that poster customerserviceguy Feb 2014 #26
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