Madoff's Claim He Acted Alone 'Preposterous'

Thinks he doesn't deserve to die in prison

(NEWSER) - There are probably at least a few former investors who wish this was literal: Bernie Madoff says the judge in his Ponzi scheme trial made him the "human piñata of Wall Street" when he dished out a 150-year sentence. Madoff tells the New York Times Judge Denny Chin's ruling was excessive. "Maybe the judge felt, ‘Well, he’s 70 years old, so even if I give him 20 years, he’s going to be 90 years old,’" says Madoff. “But quite frankly, there’s a big difference with dying in prison, you know, and dying outside with your family." More»

Banks buying up Ponzi claims to cash in later

(NEWSER) - The wizards of Wall Street have found a way to turn Bernard Madoff into a hot investment. Big banks have been buying up the claims of the victims of Madoff's massive Ponzi scheme, offering scammed investors a fraction of what they are owed in the hopes of making big profits later as a court-appointed trustee chases down the Madoff money and makes settlements, reports the Wall Street Journal . More»

(AP) - Sex and scandal have not been enough to make major sellers out of books about Bernard Madoff. According to Nielsen BookScan, neither a much-discussed tell-all by alleged ex-mistress Sheryl Weinstein nor a recent wave of biographies about the imprisoned financier have caught on with the public. Weinstein's Madoff's Other Secret, has sold just 2,000 copies, ranking it No. 3,506 on Amazon. More»

(NEWSER) - Now that Bernie Madoff is guilty, it’s time to talk sentencing. CNBC hosted a contest to come up with the most inventive one for the disgraced financier, and the winner is: working for the SEC, "catching people just like him." But that doesn’t mean the other finalists— which include displaying Bernie for cash to pay back investors, and trading him to Palestine in exchange for Israeli soldiers—are any less worthy. Here are some more: More»

(AP) - Disgraced money manager Bernard Madoff emerged from seclusion today to confront a potential conflict of interest in his massive fraud case: a $900,000 investment by his lawyer's sons. Prosecutors asked the judge to rule on the conflict to clear the way for another highly anticipated proceeding Thursday, when Madoff is expected to avoid going to trial by pleading guilty in perhaps the largest securities fraud case in history. More»