Bernard Madoff To Plead Guilty While Facing Victims In Court

3/08/2009

posted by N. Sioris

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Disgraced financier, Bernard Madoff is expected to enter a guilty plea on Thursday to one of the most monumental Ponzi schemes ever perpatrated. He has been insulated in his luxurios Manhattan apartment, where he has been under house arrest since December.

Before his arrest, the 70 year old former NASDAQ market chairman told an investigator there was "no innocent explanation" and he expected to go to prison.

On Thursday, he is expected to enter a guilty plea in the multi-billion-dollar fraud scheme. U.S. District Judge, Denny Chin invited victims to address the court, setting up an unusual confrontation with the people he is accused of cheating. Prosecutors submitted papers noting that crime victims have the right to be "reasonably heard at any public proceeding in the district court involving a release plea, sentencing, or any parole proceeding."

Mark Seal,of Vanity Fair Magazine provided close up portrayals of several of Madoff's victims in the video clips below as well as in this months' issue of Vanity Fair Magazine. You can read Mark Seal's Vanity Fair article in full here.

The victim's accounts are truly heartbreaking. Bernard Madoff needs to be made accountable to the fullest extent of the law for the devastation that he wrought upon the lives of his many victims.