Bernard L. Madoff, 70, of New York City, pleaded guilty today to a 11 count fraud Information, admitting that, as head and sole principal of of Bernard L. Madoff Investment Securities LLC, he defrauded thousands of clients out of at possibly as much as $65 billion. The Information included charges of securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the SEC, and theft from an employee benefit plan. He faces up to 150 years in prison, plus fines. At his guilty plea hearing today, he is quoted as saying, "I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed." I cannot adequately express how sorry I am for my crimes." He also said that he is “painfully aware” that he has “deeply hurt many many people.”
Thursday, March 12, 2009
Madoff Pleads Guilty To All 11 Charges
Bernard L. Madoff, 70, of New York City, pleaded guilty today to a 11 count fraud Information, admitting that, as head and sole principal of of Bernard L. Madoff Investment Securities LLC, he defrauded thousands of clients out of at possibly as much as $65 billion. The Information included charges of securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the SEC, and theft from an employee benefit plan. He faces up to 150 years in prison, plus fines. At his guilty plea hearing today, he is quoted as saying, "I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed." I cannot adequately express how sorry I am for my crimes." He also said that he is “painfully aware” that he has “deeply hurt many many people.”
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