Madoff gets 150 years for Ponzi scheme

The New York Times has reported that Bernard L. Madoff has been sentenced to 150 years in prison by a federal judge for operating a Ponzi scheme that has impacted thousands of people from all backgrounds and financial standings. From the story:

“I’m responsible for a great deal of suffering and pain, I understand that,” the 71-year-old financier told the court. “I live in a tormented state now, knowing all of the pain and suffering that I’ve created. I’ve left a legacy of shame, as some of my victims have pointed out, to my family and my grandchildren.”

View the story here.

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Former publisher of the Chicago Sun-Times gets 29 months in prison

The New York Times reports that F. David Radler, former publisher of the Chicago Sun-Times, was sentenced to 29 months in prison and fined $250,000 for stealing millions from shareholders of Hollinger International.

Radler's partner Conrad Black was sentenced last week to 6 1/2 years in prision for his role in cheating shareholders out of $6 million.

''I'm sorry for what I've done,'' said Radler, 65, who had pleaded guilty to fraud and testified against Black in return for a reduced sentence.

To read the Times full report click here.

Conrad Black gets jail time

Media mogul Conrad Black was sentenced to 6 1/2 years in prison by a federal judge on Monday for his role in cheating shareholders of Hollinger International, according to CNN reports.
The company once controlled the Chicago Sun Times, the Montreal Gazette, Britain's Daily Telegraph and the Jerusalem Post. It also oversaw abut 60 percent of Canadian newspapers.
In July, Black was convicted of mail fraud and obstruction of justice. He must also pay a $125,000 fine.
Black's associates, Peter Atkinson of Oakville, Ontario, Jack Boultbee of Victoria, British Columbia, and Mark Kipnis of Northbrook, Illinois, were also convicted of mail fraud.
To read the full report click here.