150 years. That’s the jail time that convicted fraudster Bernard Madoff was sentenced to today in a packed New York courthouse.
In handing out the maximum sentence to Madoff, U.S. District Judge Denny Chin said,
“Objectively speaking, the fraud here was massive,” he said. “Here the message must be sent that Mr. Madoff’s crimes were extraordinarily evil and that this kind of manipulation of the system is not just a bloodless crime that takes place on paper, but one instead that takes a staggering toll.”
We have publicized the “staggering toll” investment fraud exerts on victims as part of the investor education we conduct to help people understand the size and scope of this problem and to prevent them from becoming victims themselves.
The research that we helped conduct in 2007 shows that it is not a “bloodless crime that takes place on paper” but causes very real health and social problems for its victims and their families. The victims that stepped forward to tell their stories of ruin today unfortunately give further proof to those findings.
Don’t fall victim yourself, take the proper steps to help prevent against falling victim to investment fraud. Get educated about the risks and how to properly research investments. You can do this on our InvestRight website.
When I read the story about Anwar Badshah in the Surrey North Delta Leader, some obvious red flags leaped out at me. Last June, he pleaded guilty to three counts of fraud over $5,000 and was sentenced to 18 months of house arrest by a provincial court judge in Port Coquitlam. BCSC investigators described the Badshah promotion as a Ponzi scheme. […]
On Saturday, September 13, BCSC InvestRight took part in the Focus on Seniors Forum at the City of Surrey Seniors Centre, hosted for the Punjabi community. The goal of the forum was to address the important issues of elder abuse and neglect. The panelists discussed valuable information about legal, safety and support resources available to […]