Bernie Madoff Pleads Guilty
Source: http://feedproxy.google.com/~r/StocksOptionsBlog/~3/sgyOZDA_NaY/Posted on Thursday, March 12th, 2009 | In Stocks to Watch
Contributed by: Daniel Shepard (http://www.navivest.com/blog) -
Thursday March 12, 2009
Navivest
Bernard Madoff pleaded guilty today to 11 counts of defrauding investors of billions of dollars, and was ordered to jail to await sentencing. He is scheduled to be sentenced on June 16, 2009.
Making a statement, Madoff said, “I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed. As the years went by, I realized my risk, and this day would inevitably come.”
Madoff was able to pull of his scam in which he basically took in money from investors, but never invested it as promised, after the economy took a dive and investors worried about market conditions, started pulling money out.
Tags: madoff
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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