Bernard Madoff received 150 years in prison for his sentencing. Madoff’s lawyer said that 12 years is enough. Why would he deserve 12 years when he took billions from innocent people? He knew it all along. It’s hard for people to understand how serious it is if they didn’t lose their money with them. If you’ve ever been cheated for your money, you will know how upsetting it is.
Madoff’s investors must have gone through a very tough time to recover from their losses. There was one that even committed suicide. He committed suicide on purpose. He didn’t want to live when people were going to sue him for billions. Madoff’s fraud was the most prominent in America’s history. He was called the worst American by people. He knew that he was cheating people and he didn’t care.
People think he was harmless but it didn’t appear so. His wife was shocked when she found out. She didn’t know that he was capable of doing the fraudulent act. The judge sentenced him to 150 years in prison. Bernard didn’t appeared remorseful in court. He should have been remorseful. He caused people to lose a lot of their hard earned money. He was put in a high security jail.
Investors could learn from this one particular fraud case. If you’re going to invest, you should research your company and the owner. It was interesting that Bernard was hiding records from investors and they didn’t see that it was a potential problem. In America, if you’re doing business with a company, they would allow you access to your record online so that it’s quicker. For example, you can look at your bank statement online and people put thousands in their bank. If a bank allows you access, why can’t Bernard allows you access? There is definitely something wrong there. If they are hiding things then it means there might be a problem. We can apply this to all other cases. If people are hiding from you then you should think twice.