When something seems too good to be true, it’s probably because it is. Consider this a cautionary tale…

• Bernard Madoff was sent to jail on March 12th after pleading guilty to one of the biggest fraud scandals in history. Many believe the international attention of Madoff’s fall has worsened our “national crisis of confidence and distrust of the financial system.”
• His crime: a global, multi-billion dollar Ponzi scheme.
• The jailing came 3 months after Madoff’s infamous confession of his crime to his sons. Madoff insisted two sons worked for a part of his business that was separate from the Ponzi scheme. Yet the court says they were “one.”

Facts & Figures

• Madoff faces a maximum 150-year sentence, but will most likely get as little as 20.
• Many of Madoff’s investors lost all of their money, and one even committed suicide.
• If he’s sent to a general population prison, his new reality would look like this: a TV in a common area, a ping-pong table, library visits, a rooftop basketball court every other day, and a khaki prison uniform.

Best Quote

“I realized that my arrest and this day would inevitably come.” – Bernard Madoff