Madoff victims urge judge to sentence 'monster' to life

clock

The judge tasked with sentencing alleged fraudster Madoff has received more than 100 letters from angry victims of the $65bn scam.

Over 100 former clients of Bernard Madoff who lost money in a Ponzi scheme have written to New York District Judge, Denny Chin ahead of sentencing, branding Madoff a "monster," with some comparing his crimes to murder, according to the BBC. The disgraced financier faces a federal court in New York and up to 150 years in prison if found guilty of operating what could be the biggest fraud in US history. In March, he pleaded guilty to 11 charges that he masterminded a $50bn investment pyramid scheme. Some victims urged the judge to sentence Madoff to life at a hearing scheduled for 29 Ju...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Watch Professional Adviser's Working Lunch with Schroders - Beyond the Pulse: Essential insights for financial advisers in 2025

Catch up on the discussion

Professional Adviser
clock 10 July 2025 • 1 min read
Investors 'do not understand' implications of private markets investing

Investors 'do not understand' implications of private markets investing

House of Lords Financial Services Regulation Committee looked at the issues

Linus Uhlig
clock 09 July 2025 • 1 min read
NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

Making technology work better

Katrina Lloyd
clock 03 July 2025 • 9 min read