According to the Independent, the 70-year-old businessman - Bernard Madoff - is believed to have stolen as much as $65 billion in what is believed by the American authorities a long-term operation.
The Independent reported today: "His (Madoff's) investors included hedge funds, banks, Jewish charities, the wealthy, and small individual investors in North and South America and Europe."
Mr. Madoff could face up to 150 years in prison for the 11 charges he is accused of. Mr. Madoff pleaded guilty today after saying he was sorry.
This is history in the making. I believe that this case is one of the most remarkable cases of our times because of the economic situations we're passing through, and the fact that someone who stole such an amount of money is going to prison is a total inspiration for those who still don't believe in justice.
No other businessman with Madoff's records had been officially charged in a court of law before.
I believe that even if we apologise for the "mistakes" we make - which in this case, no mistakes were made because the whole operation was well-planned - we still have to pay the consequences of our actions. For this businessman, the consequences are 150 years in prison.
The picture was for this article was taken from www.bbc.co.uk/news
Independent article used to write this story:
Bernard Madoff's profile (Wikipedia):
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