Bernard Madoff receives 150 year jail sentence

US investment manager Bernard Madoff is today reeling after receiving a 150 year jail sentence in relation to his investment affairs. He recently pleaded guilty to 11 counts of fraud and other associated acts which resulted in billions of pounds of investor's money disappearing down the drain. While there is no doubt that US regulators are looking to make a point by sentencing him to 150 years in prison this is nowhere near the longest financial industry associated jail term ever passed which was 845 years for Sholam Weiss.



The judge in the Bernard Madoff case also passed legal powers over to the Federal prosecutors who are now going in search of up to $170 billion in assets which have been linked with Bernard Madoff and his family. Indeed his wife has even been forced to give up the family home and the sprawling property portfolio which has been built up using the proceeds of crime.



It seems highly inevitable that Bernard Madoff will spend his last days in jail although whether his sentence will be enough to quash the thoughts any other fraudsters with similar ideas remains to be seen. Thankfully he pled guilty to 11 counts thereby allowing the US government and the US courts to push through the case in double quick time.