< Back to previous page

Fraud victims call for harsh sentence

Published on 16 Jun 2009 under category: legal

Victims of a case involving major fraud crimes have called for a harsh sentence for the man who has admitted being behind the scheme.

Bernard Madoff is currently waiting to be sentenced after pleaded guilty in March to fraud, perjury and false reporting.

These come after he was involved with the Ponzi pyramid scheme, which fooled thousands of people into parting with their money.

Mr Madoff has apologised for these fraud crimes, but some of the victims of them have written to judge Denny Chin to outline the effect that they have had on their lives.

The judge has previously stated that the impact that the fraud crimes had on people's lives would be taken into account when it comes to sentencing the 71-year-old former Nasdaq stock exchange chairman.

In other news, Cifas, the fraud prevention service, has released figures which show a 207 per cent rise in take fraud crimes between 2007 and 2008.