Madoff not going to appeal – will spend rest of life in prison

July 9, 2009

(ChattahBox) — According to his lawyer Ira Lee Sorkin, Bernard Madoff won’t appeal his 150-year prison sentence delivered on June 29. The decision was apparently reached on Monday when Sorkin and Madoff met, and although there may be a legal argument, because the maximum 150-year penalty may have been symbolic, at the age of 71, what would it accomplish except drag his family through the mud some more. As Sorkin said, even if the court said that 150 years was excessive and lowered the terms to 40 years, “what’s the point?

Madoff is currently being held in a federal detention center in lower Manhattan, pending his transfer to an as-yet undecided prison. He asked to be sent to a medium-security facility in Otisville, New York, 70 miles northwest of New York City. U.S. District Judge Denny Chin who sentenced Madoff to the maximum 150-year term for the 11 criminal counts to which Madoff pleaded guilty, including securities fraud, investment adviser fraud, mail fraud, wire fraud and money laundering, said he would recommend that Madoff be assigned to a prison in the Northeast.  On a side-note, Lori Richards is stepping down as head of the Securities and Exchange Commission office that inspects money managers and brokerages after congress criticized her unit for missing Bernard Madoff’s Ponzi scheme.

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One Response to “Madoff not going to appeal – will spend rest of life in prison”

  1. Eliot Bernstein on July 11th, 2009 8:35 am

    To those asking what happened to the auditor at Stanford, he was found dead, perhaps Stanford et al. including their lawyers Proskauer and Thomas Sjoblom should be investigated for murder as well.
    SPECIAL REPORTS
    Another Stanford Group associate died without much notice in January
    By Wayne Madsen Online Journal Contributing Writer Mar 5, 2009, 00:19(WMR) — On February 27, WMR reported on the death in January of this year of Charlesworth Shelley Hewlett, the accountant who audited the books of Stanford International Bank from a small office between fish and chips shops in north London. Hewlett was 73 and his lawyers said only that he died “peacefully.” WMR has learned from a state government source in the United States that Hewlett’s death was “unusual,” however, little more is known about the circumstances of Hewlett’s death

    Thomas Sjoblom of Proskauer Rose is pointed to in both the SEC and FBI filings as the man behind the scenes, directing employees to lie to the SEC re the financial condition of the companies. Why was Proskauer and Sjoblom not directly named by the FBI and SEC to give the victims full disclosure of how the scheme was worked with the SEC former enforcement dude Sjoblom. Holt has sued Proskauer and Sjoblom but why has the receiver not seized their assets and firm, how can the firm continue to operate with liability insurance unless their carrier is unaware and Proskauer failed to notify them of their integral part and massive pending liabilities??? The FBI and SEC investigators should formally charge Proskauer and the victims should demand Proskauer to fully disclose their role in ripping off their money.
    Proskauer also represents Willis Group Holdings who has also been sued in the Stanford mess for aiding and abetting the Stanford scam.

    MADOFF + STANFORD + DREIER + BAYOU GROUP (SAMUEL ISRAEL) + SATYAM + FISERV + ALBERT HU + The 1031 Tax Group LLC – Edward H. Okun = PROSKAUER ROSE & FOLEY & LARDNER
    Foley & Lardner partner Patricia J. (Trish) Lane represented FISERV, sue Foley, read on.
    Investors who have been burned in these scams should start to seek redress from the lawyers who were involved with these scams. I personally have been trying to notify regulators and authorities of a ONE TRILLION DOLLAR scam that is putting states like New York and Florida at huge risk, as well as, companies like Intel, Lockheed, SGI and IBM. The states and companies involved in the fraud fail to acknowledge the risk exposing shareholders and citizens to impending liabilities. Investigators, courts and federal agents ignoring the crimes and evidence, including a car-bombing attempt on my life. I know how Harry Markopolos felt trying to expose Madoff in a world without regulation.
    Did I hear Proskauer Rose is involved in Madoff (involved many clients too) and acted as Allen Stanford’s attorney. Investors who lost money in these scams should start looking at the law firm Proskauer’s assets for recovery. First, Proskauer partner Gregg Mashberg claims Madoff is a financial 9/11 for their clients, if they directed you to Madoff sue them. The most interesting point in the Madoff Proskauer linkage is that Jacqueline Wood a former SEC enforcement head was given a report in 2004 showing that Madoff was a scam by Walker-Lightfoot a SEC lawyer which Wood then buried and then was hired by, you guessed it, Proskauer Rose.
    Proskauer also hired the lawyers involved in the Bayou Hedge fund scam of Samuel Israel, the guy who faked his airplane death to evade prosecution.
    Then, Proskauer partner Thomas Sjoblom former enforcement dude for SEC and Allen Stanford attorney, declares PARTY IS OVER to Stanford employees and advises them to PRAY, this two days before SEC hearings. Then at hearings, he lies with Holt to SEC saying she only prepared with him but fails to mention Miami meeting at airport hanger. Then Sjoblom resigns after SEC begins investigation and sends note to SEC disaffirming all statements made by him and Proskauer, his butt on fire. If you were burned in Stanford sue Proskauer.
    Proskauer Rose and Foley & Lardner are also in a TRILLION dollar FEDERAL LAWSUIT legally related to a WHISTLEBLOWER CASE also in FEDERAL COURT. Marc S. Dreier, brought in through Raymond A. Joao of Meltzer Lippe after putting 90+ patents of mine in his own name, is also a defendant in the Federal Case.
    The Trillion Dollar suit according to Judge Shira Scheindlin is one of PATENT THEFT, MURDER & A CAR BOMBING. For graphics on the car bombing visit http://www.iviewit.tv.
    The Federal Court cases
    United States Court of Appeals for the Second Circuit Docket 08-4873-cv – Bernstein, et al. v Appellate Division First Department Disciplinary Committee, et al. – TRILLION DOLLAR LAWSUIT
    Cases @ US District Court – Southern District NY
    (07cv09599) Anderson v The State of New York, et al. – WHISTLEBLOWER LAWSUIT
    (07cv11196) Bernstein, et al. v Appellate Division First Department Disciplinary Committee, et al.
    (07cv11612) Esposito v The State of New York, et al.,
    (08cv00526) Capogrosso v New York State Commission on Judicial Conduct, et al.,
    (08cv02391) McKeown v The State of New York, et al.,
    (08cv02852) Galison v The State of New York, et al.,
    (08cv03305) Carvel v The State of New York, et al., and,
    (08cv4053) Gizella Weisshaus v The State of New York, et al.
    (08cv4438) Suzanne McCormick v The State of New York, et al.
    ( ) John L. Petrec-Tolino v. The State of New York

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