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.
BCSC staff ambassadors tour the province, helping people protect themselves from fraud and unsuitable investments. Our goal is to enable BC investors to develop critical thinking skills to inform them of steps they should take to protect themselves when investing. Where we are this month Vancouver Better Business Bureau Top 10 Scams March 5 Media […]
Recently, my colleague and I had the pleasure of presenting an InvestRight seminar to a group at the Metrotown branch of Burnaby library. The reception the presentation received was great, and we had a quite a few questions during and after the seminar. Because this seminar was open to the public, I thought it would be […]