Madoff Attorney: My Client Feels Remorse

(CBS)  Bernard Madoff has always felt badly for the victims of his billion-dollar Ponzi scheme, the convicted swindler's attorney told CBS News' "The Early Show" Tuesday.

"He has expressed remorse from day one," Ira Lee Sorkin said, adding, "he's never been articulate about it."

Madoff received a 150-year prison sentence Monday for his massive fraud, a penalty that Sorkin said was a "death sentence" for his 71-year-old client.

"I don't ask any forgiveness," Madoff told the judge Monday. "Although I may not have intended harm, I did a great deal of harm."

He then addressed some of his victims: "I'm sorry.I know that doesn't help you."

U.S. District Judge Denny Chin, however, was unmoved. "This is not just a matter of money," Chin said. "The breach of trust was massive. Investors - individuals, charities, pension funds, institutional clients - were repeatedly lied to, as they were told their monies would be invested in stocks when they were not."

Madoff is believed to have defrauded investors of at least $13.2 billion by conservative estimates.

Complete Bernard Madoff coverage:

10 More To Be Charged, Source Says
Madoff Feels Remorse, Lawyer Says
Madoff Sentenced To 150 Years In Prison
Ruth Madoff: "Embarrassed And Ashamed"
Madoff's Fraud: A Family Affair?
Transcript of Madoff Sentencing
Analysis: 150-Year Sentence "Grossly Unfair"
Court Sketches: Madoff Sentencing

[Henri_Rochard]

I didn't have a nickle invested with Madoff, but you can be 100% certain that the fallout from his Ponzi scheme affected yours, mine, and everyone else's investments -- and I don't mean positively.

Hey, Madoff, don't drop the soap !!!

[nolarw]

The thing that bothers me about this situation is that we sentence Madoff to 150 years in a prison where killers and rapists will be after him, and yet we are not allowed to torture terrorists that have been instrumental in killing thousands of our loved ones. We just send them back where they came from.

[ponygal]

He's only sorry he got caught. They need to seize all his assets. have the IRS audit his business, personal income and investiagate all the monies transfered to his family. If they are not legitimate payments, then they are an accessory to the swindle. They need to hang him out to dry and set an example for other crooks who are stealing honest people's money. This will hurt the investment business because of this guy's greed.

[steeepe]

It's not a "death sentence". What an ass! It's a life sentence, which is what he deserves.

[doctajim]

I worked and counseled ex-felons for years and I believe Madoff is remorseful, BUT there are a lot of different kinds of remorse: remorse for a 150 year sentence, remorse for getting caught, remorse for hurting others, remorse for losing all his toys, remorse for embarassing his wife (and implicating, since she is likely a co-conspirator), remorse for destroying dedicated charities, etc, etc, etc. Sure he's full of remorse - but I'd bet if he got out tomorrow - he'd get right back into the fraud racket - conning is to great a rush for a man with his self-centered fantasies. His time in the joint will be short unless he's always in protective custody - no prison will be safe for him.

[cs4466]

He feels remorse that he was caught. Nothing more. If he had any sense of decency or conscience he would have stopped doing this long, long ago.

He deserves every second of that 150 year sentence.

[dartplayer501]

Check out http://www.reuters.com/article/topNews/idUSTRE55S4OI20090629. Doesn't seem like old Bernie's going to have a great time in jail to me. And Federal charges mean you serve 80% at least of the term, so it'll be 2129 before he's up for parole.

[lloydbest1]

I did.

Madoff's crime has not only ruined thousands of investors and indirectly killed at least two people but has shaken the very foundation of capitalism. If we go socialist (and I personally think that may not be the horrible idea it once was) it will be due, to a large part on good ol' Bernie's monumental over reach.
I believe Reuter's description of what prison life might be like for Mr. Madoff, as unpleasant as it is, is far too lenient. If he really ends up living the life described, he is getting off too easily. On a related thread I posted a fairly lenghty suggestion for a sentence (won't repeat it here) that doesn't involve jail time, torture or execution but would be far more unpleasant for the man than even life imprisonment in a maximum security facility.

[All_pols_need_2_go]

Remorse? The dude was smirking the whole time leading up to finally putting his ass in jail. NOW he feels remorse. What he needs to feel are daily shocks of electricity. Or better yet send him down south and we can strap him to a post on the beach naked and tie his hands just inches from his face so he can't reach it to knock the swarms of mosquitos that will be feasting on his worthless, pompus ass!

[underdogcity]

I believe that 100% of his remorse is not from the people he hurt, devastated, humiliated, and destroyed...it is of course, for getting caught and living the rest of his life in prison.

[SugrDaddy]

Hey, I think Bernie got a raw deal. People threw billions of dollars at him and got a poor return on their investment, that's capitalism.