Posted by denised in 
Made-off leaving New York federal court
#55 When you are in charge of other people’s money and you steal it, you’re not allowed to keep it.
Bernard Madoff, the mastermind behind a 25 year, $50 billion Ponzi scheme, is expected to plead guilty to a laundry list of charges, including international money laundering, fraud, perjury and theft. Madoff’s actions have bankrupted hundreds of his investors and yet he feels he should get to keep his New York City penthouse and $62 million of his victims’ money. Madoff is expected to plead guilty and if convicted could spend the rest of his life in prison. Which brings us to Really Bad Boss rule #72. Don’t drop the soap. Read the full list of charges after the jump.
Charges against Madoff and maximum prison term:
- Securities fraud 20 years
- Investment adviser fraud 5 years
- Mail fraud 20 years
- Wire fraud 20 years
- International money laundering 20 years
- International money laundering 20 years
- Money laundering 10 years
- False statements 5 years
- Perjury 5 years
- Making a false filing with the SEC 20 years
- Theft from an employee benefit plan 5 years
